Pleasanton CA Homes for Sale | Pleasanton Market Update March 2016
The Pleasanton real estate market started to heat up in March. Pending sales took another big jump during the month and while inventory rose for the third straight month, the increase was not enough to keep up with demand. The market for homes priced under $1 million was particularly hot, with less than a two week supply.
Pending sales increased 41% in March, from 49 in February to 69 in March. March sales were still 9% lower than a year ago, when 76 sales went pending. Inventory increased form 53 at the end of February to 59 at the end of March, a 9% climb. One year ago, 60 homes were actively listed. Nearly 50% of pending sales were homes priced under $1 million, while only 26% of inventory was in this segment. There was a 0.8 month supply of homes at the end of March, down from one month at the end of February.
Closed sales doubled, from 24 in February to 50 in March. March’s sales were on the marked an average of 23 days, up a little from February’s 19 days. The average sale was for 100% of the list price. The median sales price was $1,045,000, a 5% increase from 995,000 in February and a 14% increase from a year ago. The price per square foot dipped in March , from $493 in February to $468.
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 is very 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 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 a great deal 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.