Livermore CA Homes for Sale | Livermore Market Update March 2016
The real estate market in Livermore continued to heat up with the weather in March but even with the added activity, sales were not as strong as a year ago. Inventory, on the other hand took another big jump in March and more homes were for sale at the end of the month than at the end of March 2015. Homes that sold did so quickly and for more than their asking price. Homes priced under $1 million were most in demand and had less than a three week supply at the end of March.
100 properties were actively listed at the end of March, a third more than February 75 and 22% more than a year ago. Pending sales increased 42% in March, from 65 in February to 92 in March. 123 sales went to contract in March 2015. A 1.1 month supply was on the market at the end of March about the same as February’s 1.2 months.
Closed sales also increased, from 52 in February to 76 in March. The median sales price was $703,000 in March, off 4% from $731,000 in February but 2% higher than March 2015’s $691,000. Other price indicators rose in March. The price per square foot increased from $405 in February to $417 in March. The average sales price was 102% of the list price in March, compared to 100% in February and 101% a year ago. March’s sales were on the market for only 14 days on average, less than half of February’s 32 days.
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 is 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 some 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. While properties are staying on the market a bit longer, and there are fewer multiple offers, prime properties are still getting lots of attention and often see multiple offers. 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.