Pleasanton CA Homes for Sale |Pleasanton Market Update September 2017
- Inventory loss slows
- Pending sales fall 7%
- Prices steady
- Demand for homes priced under $2 million strong
Inventory has been falling since June but the decline slowed in September with a net loss of only two properties from August. Supply was still less than two thirds the level of a year ago. Pending sales have been declining since May and were off 7% from August. Prices have held up as the market has slowed, with homes priced under $2 million buoying the market. Homes priced from $1 million to $2 million sold for an average of 102% of the list price in September.
58 homes were actively listed at the end of September, two less than at the end of August but 32 less than a year ago. Pending sales fell from 54 in August to 50 in September. 54 sales went pending in September 2016 also. With both sales and inventory falling, inventory relative to sales was little changed at 1.2 months.
The average sale in September was for 99% of the list price, unchanged from August. The median sales price dipped from $1.2 million in August to $1,1,43,000 in September, which was still 17% higher than September 2016’s $973,000. The price per square foot was up from $506 in August to $509 in September, compared to $486 a year ago.
Homes sold in September did so in an average of 27 days, compared to 23 in August and 30 in September 2016.
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 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 Pleasanton 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 Pleasanton market and your own strengths as a buyer will put you in a strong position to secure the home you really want.