Pleasanton CA Homes for Sale | Pleasanton Market Update May 2015
The pace of change in the Pleasanton real estate market slowed in May. The number of available homes for sale had increased by 40% or more the past two months but went up only 12% in May. Pending and closed sales increased at about half that rate, leaving slightly more inventory relative to sales. The median sales prices dipped a little from April but prices remained strong and homes still sold for more than their asking price (on average).
The inventory of homes for sale increased by 10 units, from 82 at the end of April to 92 at the end of May, a 12% gain. May’s ending inventory was even higher than a year ago when 87 homes were actively listed. While sales increased again in May, the rate of increase from the prior month slowed again to 6%. 93 sales went to contract in May, five more than in April. 82 sales went pending in May 2014. May’s closed sales were on the market an average of 13 days, little changed from 14 days in April.
The medina sales price declined 2% in May, from $950,000 in April to $935,000. May’s median price was still higher than May 2014’s $926,000. The average price per square foot increased to $477 in May, up 3% from $461 in April. On average, homes sold for 102 of their original list price in May, unchanged from April.
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 a great time to be selling a home in Pleasanton. There just is not enough inventory to satisfy demand and it is the sellers who have the advantage right now. Proper marketing and staging will be important to getting the most for your home. Being prepared to evaluate multiple offers and sift through the options will be critical. While multiple offers will be the norm, being extremely familiar with the Pleasanton market will be critical to get the most value out of your home.
Buyers: Being prepared to act quickly will be the key to getting the home you are looking for. Properties are not staying on the market long and multiple offers are the norm. Understanding the current market and your own strengths as a buyer will put you in a strong position to act on new listings. Intimate knowledge of the Pleasanton market is critical.