Pleasanton CA Homes for Sale | Pleasanton Market Update July 2015
The Pleasanton real estate market appears to be in summer snooze mode. It appears that everyone has gone to the beach. Inventory is down and there isn’t as much urgency amongst buyers. We’re just kind of drifting along. Perhaps many people are waiting to see what happens with interest rates, which are nearly certain to go up before too long, barring something to jar the economy onto a different path. Will inventory ever return to pre-2012 levels? This autumn should be interesting.
The inventory of homes for sale in Pleasanton took a pretty big drop in July, from 108 at the end of June to 85 at the end of July. That’s a 21% decline. July was also off the level of a year ago, when 92 homes were on the market. Sales also declined in July, with pending sales falling form 78 during June to 70 during July. July, however, did have 12 more pending sales than did July 2014. Closed sales took a precipitous dive, falling 34% in July. 67 sales closed in July, compared to 101 in June and 80 a year ago. Interestingly, properties were on the market for fewer days in July (15) than in June (27). July ended with a 1.2 month supply, down from 1.4 months at the end of July.
The median sales price in July was $950,000, 10% ($100,000) lower than in June and only $25,000 higher than a year earlier. The price per square foot was unchanged from June at $469, which was 8% higher than July 2014’s $434. The sales price to list price ratio remained at 100% from June.
The tables below provide further details on the current 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 Pleasanton. Even though inventory is up, there is still 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 Pleasanton 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 Pleasanton market and your own strengths as a buyer will put you in a strong position to secure the home you really want.