Livermore CA Homes for Sale | Livermore Market Update April 2016
Livermore continued to add inventory in April. April followed March’s 33% increase in available homes for sale with its own increase of 33%. The rate of increase in pending sales slowed, however, from 42% in March to 14% in April. Demand was still strong, especially in the lower end and particularly for quality homes in prime locations and appropriately priced. Multiple offers were common and the average sales took only 11 days. 20 days in considered a hot market. Price indicators were nearly flat from March.
The median sales price in April was $695,000, 1% less than March’s $703,000 but 7% higher than April 2015’s $650,000. The price per square foot increased 2%, from $417 in March to $424 in April. That was 9% higher than a year ago. ON average, homes sold for 102% of their list price in April, unchanged from March and 2percentage points higher than in April 2015.
133 homes were on the market at the end of April, 33 more than at the end of March and 44 more than a year earlier. Pending sales were up 14%, from 92 in March to 105 in April. 117 sales went to contract a year ago. The faster rise in inventory left a 1.3 month supply at the end of April, up from 1.1 months at the end of March and 0.8 months at the end of April 2015.
84 sales closed in April, eight more than in March but 19 less than a year ago. The average closed sale took 11 days in April, compared to 14 days in March and 18 days in April 2015.
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 a great time to be selling a home in Livermore. Inventory remains low and there is strong demand from buyers, 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 many properties, having a highly competent agent who knows the Livermore market will be critical to your success
Buyers: Being prepared to act quickly will be the key to getting the home you are looking for. Prime properties are getting a great deal of attention and multiple offers. The result is that they don’t stay on the market long. 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.