Livermore CA Homes for Sale | Livermore Market Update May 2016
- Market hot
- But may be slowing
- Inventory highest since September
- Price indicators mixed
- Days on market still low but rising
While both inventory and sales have increased in Livermore every month this year, there are signs that the pace may be slowing. We are seeing fewer offers, even on well-priced, attractive properties. And although homes were on the market only 18 days in May, that is up from 11 days in April. Price indicators were mixed in May, with the median sales price increasing but the price per square foot and sales price to list price ratio falling. The market will probably remain strong through the summer but I do not expect the level of activity or the frenzied activity of last summer.
133 homes were actively listed at the end of May, up three from April and 19 more than a year ago. Pending sales increased by nine to 115, which was well off May 2015’s 125. Supply relative to pending sales stood at 1.2 months at the end of May, down slightly form 1.3 months at the end of April but higher than May 2015’s 0.9 months.
May’s median sales price was $725,000, up 4% from $695,000 in April and 1% from $718,000 a year earlier. The price per square foot in May was $405, down from $424 in April. One year ago, the price per square foot was $398. The average sale in May was for 101% of the list price and took 18 days. Those numbers compare to April’s 102% and 11 days, respectively.
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.