Pleasanton CA Homes for Sale | Pleasanton Market Update September 2016
- Inventory declines a little
- Pending sales tick up
- Prices soften
- Homes under $1 million in demand
- High end ($2 million-plus sluggish)
As we enter autumn, the Pleasanton real estate market is following a familiar trend, with inventory trending down, sales stable to up and prices softening. The lower end of the market (homes priced under $1 million saw the greatest demand in September, selling in only 21 days for 99% of the list price, on average. The middle of the market ($1 million to $2 million) continued to see strong demand as well and had just over a month’s supply at the end of September. The upper end of the market was, however, considerably more sluggish.
90 homes were actively listed at the end of September, down from 96 at the end of August. It was the second straight month that inventory declined. 84 homes for sale at the endo of September 2015. Pending sales increased by three units, from 52 in August to 53 in September, close to the 54 pending sales one year earlier. A 1.6 month supply was available at the end of September, down from 1.8 months at the end of August and equal to the supply of a year ago.
September’s sales price to list price ratio of 96% was the lowest since December 2012’s 95%. The ratio was 100% in August, was well as in September 2015. The median sales price fell to its lowest level since December 2015 at $969,000, 5% lower than August’s $1,015,000. The price per square foot was little changed at $489 in September. Homes that sold in September did so in an average of 30 days, up from 24 days in August and 20 days 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. Although inventory is higher than we have seen in a while, demand remains strong, 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 a few select properties, most other homes have to be priced strategically to get top dollar. More than ever, having a highly competent agent who knows the Pleasanton market will be critical to your success
Buyers: The current market is more favorable to buyers than we have seen in a while. However, prime properties are still getting a great deal of attention and even multiple offers on occasion. Being prepared to act quickly will be the key to getting the home you are looking for. 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.