Pleasanton CA Homes for Sale | Pleasanton Market Update July 2015

Pleasanton CA Homes for Sale | Pleasanton Market Update July 2015

Pleasanton is a bustling suburban city with small town charm. This vibrant Northern California community is situated at the crossroads of Interstates 580 and 680. Pleasanton is also in close proximity to the San Francisco and San Jose metropolitan area.

This attractive city continues to be one of the most desirable places to live in the Bay Area. It offers modern conveniences and amenities and spectacular vistas and recreational opportunities. Pleasanton has also been recognized by the U.S. Census as one of the wealthiest middle-sized cities in the nation.

There is not much activity in the real estate market in Pleasanton. This month, inventory is down and there is not much urgency among buyers. This may be because people are still observing the interest rates, which are expected to increase before too long. This coming autumn, we will find out if the inventory will return to pre-2012 levels.

The number of homes for sale in Pleasanton decreased significantly this July, from 108 at the end of June to 85 at the end of July. This shows a 21% decline which was not really surprising since July was also off the level last year with only 92 homes on the market. This month, pending sales also went down, from 78 during June to 70 in July. However, as compared to the July 2014, there were 12 more pending sales this time. Closed sales also took a big drop, falling 34% this month. July’s 67 closed sales is lower as compared to 101 in June and 80 last year. Interestingly, properties stayed in the market for fewer days than last month, with only 15 days in July and 27 in June. July finished off with a 1.2 months supply, a bit lower than 1.4 months at the end of June.

This month’s median sales price was $950,000. This is 10% ($100,000) lower than last month and only $25,000 higher than the previous year. The price per square foot remained the same as that of June at $468. This is 8% higher than July 2014’s $434. As for the sales price to list price ratio, it stayed at 100% from June.

The tables below give more details on the present market compared to prior periods, as well as a look at different market segments.

Sellers: This is still the perfect time to be selling a home in Pleasanton. Although the inventory increased, the demand from buyers is still strong, especially for reasonably priced prime properties in impressive condition. Even though multiple offers are still the norm for some properties, working with an experienced and highly competent agent who is familiar with the Pleasanton market will set the stage for your success.

Buyers: To get the home that you are looking for, you need to act as quickly as possible. Although Pleasanton homes for sale linger on the market a bit longer, and there are fewer multiple offers, prime properties attract the attention of more buyers and get multiple offers. If you want to be in a strong position to act on new listings, you will need your own strength as a buyer and the service of a committed agent who has in-depth knowledge of the Pleasanton market.