Pleasanton CA Homes for Sale | Pleasanton Market Update October 2015
While the Pleasanton real estate market generally continued to slip into an autumn lull, that was not necessarily the case for all homes in all neighborhoods. It’s what I would term a Dalmatian market, with some homes receiving a great deal of attention, while others languished on the market longer. The demand has been neighborhood and price (and in some cases home) specific. Demand for lower priced homes remains strong. Inventory, which has been falling since June, continues to be a constraint. In general, we’re seeing more homes staying on the market longer and fewer homes are receiving multiple offers or selling for more than their list price than has been the case most of this year.
After falling for four straight months, pending sales increased 15%, from 53 in September to 61 in October. Two thirds of those sales were homes priced under $1 million. October’s pending sales were also six units higher than a year ago. Seven fewer homes were for sales in October (77) than in September (84); however, October’s inventory was higher than October 2014’s by seven units. Closed sales fell to 46 homes in October, down from 55 units in September and 51 a year earlier.
Price indicators were mixed in October, with the median sales price rising but the price per square foot and the sales price to list price ratio falling. In fact, October was only the second month this year with a sales price to list price ratio below 100%. That ratio was 97% in October, compared to 101% in September and 97% in October 2014. The median sales price in October was $958,000, which was $28,000 higher than September’s $930,000 and $95,000 higher than a year ago. The price per square foot fell from $499 in September to $462 in October, which was still 6% higher than a year ago.
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. Inventory has been falling and 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.