Homes for Sale and Real Estate Market Update Video for Pleasanton CA January 23, 2018
Hi everybody, this is Doug Buenz with the 680 Group and Venture |Sotheby’s and 680homes.com. This is our October Market Minute for Pleasanton California.
What’s going on in the market? Well, inventory is constrained still but it is higher than last year. Buyers are more cautious, certainly there seems to be a shift in the buyer mentality. They are more deliberate, there is not as much pressure to make multiple offers. So buyers have definitely slowed down their pace and that is having an impact.
The news media is starting to report that the market has slowed down. You are starting to see some of those news stories filter in and that will also further impact buyers thinking. But surprisingly prices are higher right now than they were last year at this time. So prices are still up there and we have not seen a serious deterioration in prices yet.
Let’s take a look at some of the stats.
Average Price Per Square Foot for sold properties in September was $598 a square foot in Pleasanton. In August it was $593. It is actually up slightly. In September of 2017 the average price per square foot for sold property was $531, so prices are actually by this measure, about 12% higher than they were last year at this time.
Let’s take a look at Active Pending and Sold Properties. The pace of the market. Right now there are 84 active listings in Pleasanton.
Single family home listings, there are 43 pending sales and 48 sold properties in the month of September.
How does that compare to last month? Last month we had 97 active listings, so inventory is down slightly. Pending sales were a little lower in August, so pending sales are actually a little bit higher 41 pending sales in August compared to 43 last months, and 63 closed sales in August compared to 48 this month. So that’s where you are starting to see a drop in activity.
If we look at Average Days on Market for Active Listings, right now for properties under $1,000,0000 in Pleasanton, the average days on market is 36 for the $1,000,000 – $2,000,000 price bracket, the average days on market is 31. For active listing and over $2,000,000 it is 142 days on the market, that’s not surprising.
So let’s take a look at Percentage of Listings with Price Reductions in Pleasanton in September. 39.3% of the active listings in Pleasanton had price reductions, 30.2% of the pending listings had price reductions and 29.2% of the sold properties had price reductions, so we are seeing some price adjustments out there as the pace of the market slows down.
Let’s take a look at Percentage of Homes Sold Over List Price. So in the under $1,000,000 price bracket 44% of the sales were over the asking price. In the $1,000,000 – $2,000,000 price bracket, 38% of the closed sales were over the list price and in the $2,000,000 plus bracket there was 0% of the properties that were sold over the asking price. So again, when you get into over $2,000,000 bracket the market of course is a little bit slower and moves at a little different pace.
Overall 37.5% of the sales in Pleasanton in September were over the asking price.
So there you have it. Prices are softening but still higher than they were a year ago. Inventory is still constrained and the buyers have a different attitude about the market and that will start to translated into less aggressive offers and we will see how that goes moving forward.
That is it for now. Be sure to like and share this with your friends if you think they would get some value out of it. We invite you to comment on this video below as well. Let us know your thoughts and as always if we can help you or someone you know with their real estate needs, call us today 925-621-0680 or go to our website 680homes.com for our listings.
Thanks for watching.
Homes for Sale and Real Estate Market Update for Pleasanton CA June 2018
Under $1 Million Pleasanton CA Properties
We’re in the midst of summer and the market’s a little bit of a mixed bag at the moment. The under million dollar market remains very hot, and inventory remains extremely limited, as there’s only seven homes for sale in Pleasanton CA under $1 Million right now. That’s down 42% from last month, so we continue to see challenges in inventory in that price range. Many of the indicators in the under $1 Million market are up as a result, including the average price per square foot, which is $729, up 7% from last month at the same period. However, the average days on market, interestingly enough, for sold Pleasanton CA properties is now 11 days on the market, which is ridiculously low in the context of the national market, but for this area it’s crept up a little bit. It’s up 38% from the closed sales last month at this time. The average sales price and list price ratio is right at 100%, which is down 11% from the same period last month. That’s for closed sales. Not as much inventory, but perhaps a little bit of fatigue on the part of buyers there, so we’ll see.
$1 Million to $2 Million Pleasanton CA Properties
In the $1 Million to $2 Million market segment, it looks like statistically things have cooled some. Homes for sale are up 7%, with 46 homes for sale right now in that price range. It’s up 7% as compared to last month at this time. Pending sales are down 10%, with 43 pending sales. Sold properties month to date are up 8% with 55 closed sales, so that is a reflection of past market activity last month. The average price per square foot in this price segment is $599, which is down 4% from last month. That compares to $729 in the under $1 Million market segment. As you see, the higher up in the price range you go typically the lower the price per square foot. Average days on market is 10 for sold properties, up a 11%, and the sales price to list price ratio in this price segment is 104%, which is very strong, but that’s down 2% from last month at this time.
$2 Million Plus Pleasanton CA Properties
In the $2 Million plus market segment pending sales are up 67% month to date compared to last month to date. That’s an indicator of strength, with 15 pending sales. However, sold properties are down 45% this month as compared to last month at the same period. We’re seeing average days on market up to 27, which is up 13% from last month. Sales price to list price ratio is 97%, which is down 2% from last month. The average price per square foot on closed sales over two million dollar is $482, which is down 6.2%.
You can see we’re starting to see cooling in some of these price segments and some of these statistics, but overall the market still remains strong. This is not unusual for summer, when buyers sometimes get distracted with vacations and kids out of school, etc. But the market is still very good for buyers, hopefully we’ll see some more inventory come on. If you are a buyer we’re likely to see the pace of the market slow a little bit in the summer. That’s fairly typical, so good time to get out and buy a property. If you’re a seller prices are still at historic highs, so it is still a great time to sell.
As always, if you know someone that would be interested to know more about the Pleasanton housing market in this market report, please share it with them and if there’s anything we can help you with give us call at 925-621-0680. Or our website, 680homes.com.
This is Doug Buenz with the 680 Homes Group and that’s the real estate market update for Pleasanton CA.
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Homes for Sale and Real Estate Market Update for Pleasanton CA April 2018
Hi everybody, it’s Doug Buenz with The 680 Group at Venture Sotheby’s, and I’m bringing you a quick Pleasanton market update. As always if you could share this with someone you think might find it interesting, I would really appreciate it.
So basically right now as everybody knows the market’s super hot. If we look at the Pleasanton market overall the numbers certainly reflect that. For homes in Pleasanton under $1,000,000 there are three active listings right now. And believe it or not, that’s up 62% from last month at this time. So pretty slim pickings under a million dollars in Pleasanton. For pending sales there are eight of them. That’s unchanged from last month-to-date. And there are four closed sales so far this month, unchanged again from last month-to-date. So the story in the under $1 million market is very constrained inventory, lots of demand, and it remains hot!
If we look at the $1,000,000 to $2,000,000 bracket well, we’ve seen a lot of activity in that bracket. Right now there are 29 active listings at this point in April. That’s up 81% from this same period in March. So you can see starting to see more inventory come on the market now. Clearly sellers are “making hay while the sun shines”. There are 16 pending sales in the $1,000,000 to $2,000,000 range moth to date. That’s down 27%, so pending sales are a little bit slower this month compared to last month. For Sold properties, they are up 83% month to date over March to date. So again last month was very active in this price range, and that’s reflected in the sold properties. Average days on market for sold properties in this price segment is 9, which again shows it is very strong in this market segment. That’s up 29% however, so it’s creeping up a little bit with the inventory that’s coming on the market. The average price per square foot for sold properties month to date in this price range is $587. That’s down slightly (3.6%) from last month-to-date. And the average sales price to list price ratio is very surprising in this price range, coming in at 107%. So multiple offer territory between $1,000,000 to $2,000,000, and that’s an indication of how strong that market segment has been, although we’re starting to see more inventory. So if you’re a buyer don’t get discouraged – there’s some good properties coming on the market!
Now if you look at the over $2,000,000 market segment, inventory wise there are 24 homes for sale over $2,000,000. That’s up slightly from last month-to-date. It’s up 4.3%. There are two pending sales. That’s down 60% from last month-to-date, so there is a little less sales activity this month so far. There are seven closed sales this month-to-date. That’s up 250% from last month-to-date, again an indication that the market was very brisk last month in this price segment. Average price per square foot over $2,000,000 is $486 a square foot. That’s up under slightly under 1% from last month to date. Average days on market is 44. That’s down 52%. With the strong sales activity in the over $2 million bracket you’re seeing the days on market come down. And the average sales price to list price ratio is 98% in this price segment. And that’s up slightly 2% from last month-to-date. s
So, Sales price to list price over $2,000,000 is 98%. Sales price to list price $1,000,000 to $2,000,000 is 107% percent. This gives you an indication that the higher you go up the price range the fewer buyers there are, and a little softer the market is.
I hope you enjoyed this. If we can be of any help please do give us a call 925-621-0680 or visit our website 680Homes.com. We would love to be of assistance to you. Thanks for watching.
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Pleasanton CA Homes for Sale and Real Estate Market Update March 21, 2018
The Pleasanton real estate market remains hot! Inventory remains tight, and demand is strong. Overall we have seen an increase in inventory this month, but pending sales are up as well. The net result is there are 38 available homes for sale in Pleasanton as of today, which is down from 40 last moth to date. So more homes have hit the market, and more homes have sold. In fact, we have 45 pending sales in Pleasanton so far this month, which is up 55% from the same period in February. So we are entering the Spring market with a frenzy of activity in most price ranges.
See the attached chart for details, which compares this month to date with the same period in February overall and by different price brackets. For overall activity (all price ranges), we see inventory and new listings relatively unchanged, but a big jump in pending sales (up 55%). Sold homes is up 107% so far from February. The average days on market for sold homes is 13, which is up from February as a result of several sales in the $2 million plus market, which traditionally sees longer market times. The sales price to list price ration overall is 106% for sold properties, meaning that on average homes sold for 6% over their asking price. Another indication that the market is very strong. Here are some other interesting data points from the 3 price brackets:
Under $1 Million: Only 5 homes currently for sale. 6 days on the market on average for sold homes. Homes sold for 107% of list price on average. Average price per sq ft is $607. This market segment is on fire, and as the market moves up there are fewer and fewer options for buyers under $1 million
$1 Million to $2 Million bracket: 11 available homes for sale, which is down 42% from the same period in February. New listings are also down 43%, with 17 new listings month to date. Pending sales are up slightly (26), and sold homes are double the same period last month (22). The average price per sq ft for closed sales is $574, and the average sales price to list price ratio is 104%, which is up 3% from the same period in February. This market segment remains very robust.
$2 Million plus bracket: This price segment saw the biggest jump in activity. Available home for sale is 22 right now, up 37% from the same period in February. There are 12 new listings, which is up 200% from last month. And we had 8 pending sales, a whopping 700% increase from last month at this time. There are 3 closed sales, versus none last month at this time. The average days on market is 62 for closed sales, which again illustrates that this segment takes a bit longer to sell. The average price per sq ft for closed sales this month is $479.
The Spring market is on! Happy Hunting!
Hi everybody. It’s Doug Buenz with the 680 Group at Venture Sotheby’s here in Pleasanton. I wanted to give you a quick update on the Pleasanton market, and spring has sprung. The market is at a frenzied pace in most cases. If we take a look at this month, March, compared to last month, February, at this time, we have some interesting stats.
Just to give you an idea, there are 38 homes for sale right now in Pleasanton. That’s still an insanely low number by historical standards. New listings, there’s 43 so far this month, and pending sales, there’s 45. So, the new inventory’s getting absorbed and then some. The sold homes, we’ve closed 29 homes so far this month overall in Pleasanton. That’s up 107% from last month at this time. The average days on market overall is 13. The average price per square foot is $579, so that’s down insignificantly.
The average sales price to list price ratio is 106%, and that’s up about 2%. We’re seeing multiple offers in most cases. If you look at the three price brackets, under a million is on fire. There are only five homes, FIVE HOMES for sale right now in Pleasanton under a million dollars. There were 14 new listings this month and 11 pending sales. 11 pending sales is up 83% from last month, so a constrained inventory market to be sure.
We’re seeing the average price per square foot at $605 a square foot, and the sales price to list price ratio for homes under a million is 107%. That’s up 2% from February at this time. If we look at the $1,000,000 to $2,000,000 bracket, a little higher price, we’re seeing new available homes at 11. That’s down 40% from last month at this time. There are 17 new listings so far this month. That’s down 43%, so a little less inventory in that price bracket.
There are 26 pending sales. That’s up about 20%, and there are 22 closed sales this month in that price bracket, $1,000,000 to $2,000,000. That’s up. That’s double what it was in February. The average days on market for the sold properties is 5, five days on market between a $1,000,000 to $2,000,000. Man, that’s a smoking-hot price segment. That’s down almost 70% from last month.
The average price per square foot in that bracket is $574. That’s up about 3%. The average sales price to list price ratio on sold homes is 104%. Again, multiple offer market, so that market segment is doing great. The $2,000,000+ market is showing some sign of life as well. There are 22 homes for sale right now in Pleasanton over two million dollars. That’s up 37% from last month.
New listings in the $2,000,000+ market are 12, so there are 12 new listings in Pleasanton this month. That’s up 200% from last month, so it’s double. Pending sales, there are eight pending sales in that price bracket. That’s up a whopping 700% from last month, so a lot of activity in that two million plus. Even the $3,000,000 plus, we’ve seen a couple sales this week, so the upper end is showing signs of life. We’re getting lots of Peninsula and South Bay buyers moving into that price segment.
There are three homes that closed this month over $2,000,000. The average days on market for those is 62, a little longer days on market for the higher-priced inventory. The price per square foot on average was $479, a little lower price per square foot in the upper reaches. The sales price to list price ratio is 96%, so didn’t quite hit asking price.
That’s what’s going on in the market right now. Spring is here. Inventory is continuing to hit the market, which is good news for buyers. Get ready. Get pre-approved. Work with a great agent. If we can help you at all, please give us a call. Doug Buenz and The 680 Group, (925) 621-0680, or visit our website, 680homes.com. We’d love to help you.
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Pleasanton CA 2017 Homes for Sale and Real Estate Market Year In Review
Tight inventory and strong demand was the norm for Pleasanton real estate in 2017. We had more sales in 2017 than 2016, with substantially fewer homes available to sell. That led to higher prices, with the median sales price increasing 9% from 2016. Homes priced under $2 million were in very high demand and sold in an average of only 20 days (a 20 day average sales time is generally considered to indicate a hot market).
Sales increased 7% in 2017, a nice increase given the reduction in supply. The median sales price increased $90,000, from $1,050,000 in 2016 to $1,140,000 in 2017. Relative to the list price, homes sold for an average of 99% of the original list price, unchanged form 2016. Time on the market was down from 2016 by an average of two days.
Homes priced under $1 million were the most in demand and the least available. Demand was also very strong for homes priced under $2 million. That is demonstrated by two statistics in the chart above, days on market and sales price to list price. Properties with a $1 million or less price tag sold in an average of only 21 days for 102% of the list price. The same was true for the $1 million to $2 million price range.
The table above shows the lower level of inventory in 2017 than 2016. It also indicates that sales were strong in spite of the lack of supply. May, June and July were particularly strong months, even more than normal seasonality would predict. We ended the year with the lowest inventory we have seen in at least two years but with very strong sales.
The table above highlights just how strong the demand was for homes priced under $1 million. Inventory was below the level of sales throughout the year, whether looking at pending or closed sales. The year ended with only one property actively listed in this price category.
The story was about the same for homes priced from $1 million to $1,999,999. Sales were consistently well above inventory and the year ended with only seven of these homes for sale. The last half of 2017 was a very active time in this price range.
Homes priced over $2 million saw a different dynamic in 2017. Inventory was well above sales and there was less volatility in sales, month to month. Inventory ranged from a high of 33 in April to a low of 11 in January. 12 homes were actively listed at the end of 2017.
Real Estate Market Update Video for Pleasanton CA & San Ramon CA, January 23, 2018
Hi everybody, it’s Doug Buenz with The 680 Group at Venture Sotheby’s Real Estate. I wanted to do a quick market update. We’re now at January 23rd, and I just wanted to give you a little bit of the pulse of the market right now. We’re seeing new listings hit the market in the Pleasanton CA real estate market. There were 27 new listings this month to date. That’s up 145% versus last month. In the San Ramon CA real estate market there’s 23 new listings so far this month, which is up 53%. So, we’re starting to see inventory hit the market.
News bulletin for you buyers: Get ready, because I think we’re going to see some great opportunities in the market to purchase. Pending activity is strong, even in the upper end, so far this month, which is great news. Days on market is down this month for sold properties, so the market remains very hot with a lot of demand. So, just be aware of that as a buyer. The average days on market in Pleasanton CA homes for sale this month for sold properties is 15. That’s down 32%.
San Ramon CA homes for sale averages 12 days on market for sold properties, which is down 7%. The outlook is continued strong demand. There’s no getting around it. People need a place to live, and people are coming to this area in search of good schools and good housing values. We do think we’ll see more inventory here as we get towards the Spring, especially with some of the tax law changes, etc. Buyers, so far, seem to be a little bit more cautious than normal, but we’ll see how things roll out given all the changes. The market is good.
Real estate is great. If you need any help with buy or selling, please give us a call at 925-463-2000, and if you like this content and like this video, please do share with your friends. If you have any comments, please comment. Thanks so much for watching. Doug Buenz, The 680 Group at Venture Sotheby’s in Pleasanton, California.