Pleasanton July 2025 Real Estate Update

The Pleasanton real estate market in June saw both inventory and pending sales decline, with a surge in closed sales.  The market remains skittish and volatile, with stubborn mortgage rates continuing to put a damper on demand.

Let’s take a dive into the numbers for June:

Supply/Inventory:  The inventory of available single-family homes slid to 105 homes for sale at the end of June, a 16% decrease from the end of May when there were 122 homes for sale.  However, this represents an 17% increase from June of last year.  This indicates that the build-up of inventory over the past 6 months has peaked for now. 

Demand: Pending sales (homes under contract) showed a 17% drop in June, with 52 pending sales for the month, down from 62 in May.  However it was 16% higher than June of 2024.  Closed sales were up sharply, with 63 closings in June, up from 42 closed sales in May.  This is 17% higher than June of last year. Median days on market for closed sales rose to 19 in June, which is 19% higher than May and 36% higher than June of 2024.  Average days on market for Active listings in Pleasanton stands at 38, showing that most homes are simply taking longer to sell.

Prices: The median sold price was up slightly in June at $1,770,000, which is up 5% from May’s figure of $1,685,000.  However, it is 4.8% lower than June of last year. The median sold price per sq ft continued to decline, coming in at $852 in June, down 1.3% from May’s figure of $864.  This continued a downward trend, with the average sold price per sq ft in April showing $866 and March showing $884 per sq ft.  The average sales price to list price ratio in June continued to trend lower, declining to 97%, down from 98% in May, 100% in April, with a peak of 106% in May of 2024.  This is perhaps the best indicator that the market has softened.  Approximately 30% of the current listings have had price reductions. 

Interest Rates: Average 30-year fixed mortgage rates have eased slightly, sitting at 6.67%, which is down about ¼% from the average rate of 6.89% at the beginning of June.  It is still well above October of last year’s low point of 6.08%.  Interest rates remain the key driver for the real estate market.  We will see if rates will ease up as we head further into Summer.

Economic/Other Considerations: Things have calmed down on the economic front.  The capital markets have largely recovered from the turbulence in April, the inflation outlook has improved, and in general there are strong signals that the economy has stabilized.  Consumer confidence has also improved.  All eyes remain on interest rates, which continue to impact demand.  Here’s hoping this will lead to improved activity in the real estate sector