Livermore CA Homes for Sale | Livermore Market Update September 2016
- Inventory down a little
- Pending sales decline
- Prices firm
- Low end has a one month supply
Demand for real estate in Livermore remained strong in September, especially for homes priced under $1 million. Those homes had about a one month supply and sold, on average, for just under the asking price. The market for higher priced homes was more sluggish. In general, inventory and pending sales were off from August’s levels, while prices remained firm.
August’s median sales price was $713,000, which was3% higher than August’s $691,000and 9% higher than September 2015’s $655,000. The price per square foot was also higher in September, from $397 in August to $412. It was $392 a year ago. The average sale during September was for 99% of the list price, unchanged from August but slightly lower than a year ago (100%). On average, homes sold during September in 27 days, the same as in August but a little longer than a year ago (27 days).
Inventory has been up and down the past few months and was down again in September. 134 properties were actively listed at the end of September, compared to 139 at the end of August and 120 at the end of September 2015. 95 sales went to contract during September, five less than in August and seven less than a year earlier. Inventory relative to pending sales was unchanged from August at 1.4 months, which was higher than September 2015’s 1.2 months.
The tables below provide further details on the current Livermore CA market compared to prior periods, as well as a look at different market segments.
Sellers: It is still a great time to be selling a home in Livermore. Although inventory is higher than we have seen in a while, demand remains strong, especially for prime properties in excellent condition that are priced right. Proper marketing and staging will be important to getting the most for your home. While multiple offers are still occurring for a few select properties, most other homes have to be priced strategically to get top dollar. More than ever, having a highly competent agent who knows the Livermore market will be critical to your success
Buyers: The current market is more favorable to buyers than we have seen in a while. However, prime properties are still getting a great deal of attention and even multiple offers on occasion. Being prepared to act quickly will be the key to getting the home you are looking for. Having a professional Realtor who understands the Livermore market and your own strengths as a buyer will put you in a strong position to secure the home you really want.