Pleasanton CA Homes for Sale | Pleasanton Market Update April 2016
Pending sales in Pleasanton were steady from March, after two months of 40% or more increases. That allowed inventory, which had been struggling to keep up, to surge in April. Quality inventory (good location, properly priced) continued to see multiple offers and fly out the door. Price indicators were more or less flat from March but showed strength and continued to be above those of a year ago. The average sale took only 20 days in April, another indication that the market is hot. The lower end (homes priced under $1 million) continued to be the hottest segment.
83 homes were actively listed at the end of April, up 43% from 58 at the end of March and one more than a year ago. Pending sales fell by one unit in April to 70. 90 sales went to contract in April 2015. Closed sales, following the jump in pending sales the prior two months, increased 13% in April, from 53 in March to 60 in April. Inventory relative to pending sales increased form 0.8 months at the end of March to 1.2 months at the end of April.
On average, homes sold for 100% of their list price in April, unchanged from March but below April 2015’s102%. April’s median sales price slipped4% from March’s $1,045,000 to $1,008,000. That was still 6% higher than a year ago. The price per square foot increased from $467 in March to $498 in April. One year ago, homes sold for $461 per square foot.
The average sale in April was on the market for 20 days, compared to 22 days in March and 19 days a year ago. 20 days is generally considered to be a hot market.
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. 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 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. 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 Pleasanton market and your own strengths as a buyer will put you in a strong position to secure the home you really want.