Livermore CA Homes for Sale | Livermore Market Update October 2017
- Inventory at lowest level since January
- About two weeks supply
- Pending sales bounce back a little
- Prices firm up
Fewer homes were available for sale at the end of October in Livermore than at any time since January. The decline left just over a two week supply on the market. With buyers on the prowl, pending sales increased 6%, in spite of the dearth of homes available. Prices were firm, with homes selling for their asking price, on average. Other price indicators increased as well.
Inventory fell 27% in October, from 70 at the end of September to 51 at the end of October. That was about half the 107 homes on the market at the end of October 2016. 85 sales went to contract in October, compared to 80 in September ant 84 a year ago. The market tightened, with only a 0.6 month supply at the end of October, down from 0.9 months at the end of September and 1.3 months at the end of October 2016.
October’s median sales price was $800,000, a 5% increase from $765,000 in September and a 14% jump from $700,000 a year earlier. The price per square foot also increased, from $435 in September to $445 in October. On average, homes sold for 100% of their list price in October, unchanged from September but higher than October 2016’s 98%. Time on the market did not change much in October. The average sale took 22 days in October, one less than in September.
The tables below provide further details on the current Livermore CA 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 Livermore. Inventory is very low and demand is 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 Livermore market will be critical to your success
Buyers: The current market has been fairly balanced, especially compared to the previous few years but inventory is low and multiple offers much more common than in the past year. Prime properties, in particular, are getting a great deal of attention and multiple offers. Being prepared to act quickly will be the key to getting the home you are looking for. Having a professional Realtor who understands the Livermore market and your own strengths as a buyer will put you in a strong position to secure the home you really want.