How many homes are currently on the market in Pleasanton? 

The number of homes for sale continues to increase at a steady pace.  As of 04/24/2008, there were 233 single family homes for sale in Pleasanton.  This compares to 183 homes that were available for sale at the end of April 2007. This represents a 27% increase from the same period one year ago. 

How many homes are currently pending in Pleasanton?

At the same time, sales activity levels are far below this time last year.  For the 1^st quarter of 2008, 91 homes sold in Pleasanton compared to 197 for the 1^st quarter of 2007.  This represents a 46% decrease from the same period of one year ago.

On the bright side, as of April 1st,  47 homes have been  reported  as pending.  This represents a significant increase compared to the average of 30 per month for the 1^st quarter of this year.  The breakdown of the prices are shown below:

Are home values increasing or decreasing?

The median sales price for Pleasanton homes as of 3/31/2008 was $780,000 compared to $839,000 as of 3/31/2007. This represents a 7% decrease from the same period of one year ago.

What’s Roy’s perspective on the market?

SHORT SALES, FORECLOSURES, BANK OWNED and REO PROPERTIES-these are terms used to describe properties sold under financial distress.  They are certainly making the headlines and getting lots of attention.  The bright news is that so far these types of property sales appear to represent a small fraction of Pleasanton home sales activity.  Of the 177 single family homes, town homes, and condominiums sold in the 1^st quarter of 2008, 8 were shorts sales and 7 were REO properties.   This represents slightly less than 9% of all sales activity.  As you can see, most of these sales were under $750,000.

Pleasanton Properties sold in 2008 involving short sale or REO

This raised single story home is situated on a corner lot of almost 10,000 sq. ft. Updated throughout, features include:

• Custom Remodeled Kitchen w/Stainless Steel Appliances
• Formal Living/Dining Room
• Family Room w/Fireplace
• Hardwood Flooring
• Updated Baths
• Beautiful Backyard with Sparkling Pool
• Laundry Room w/ Utility Sink

Walk to elementary school and park. Close to historic downtown. Both 580/680 freeway access.

For additional information and a complete tour of this home click here.

There is plenty of negative news out there about the real estate market. The truth is that real estate is all about the local market. Applying blanket statements to  the real estate market is akin to saying that the weather in the United States today will be 70 degrees and sunny. It’s just not that simple. 

The Pleasanton Chamber of Commerce, City of Pleasanton, The Pleasanton Weekly and Bay East Association of Realtors are co-sponsoring a town hall meeting on the status of the real estate market in Pleasanton.

This free event is open to the public and takes place on Wednesday, April 30 at 7:00 p.m. at the Veteran’s Memorial Building, located at 301 Main Street in downtown Pleasanton.

This event will be a great opportunity to find out what is really happening in our local market.

Speakers include Jennifer Hosterman, Mayor of Pleasanton; Carol Rodoni, real estate industry expert; George Duarte, East Bay Chapter of the California Association of Mortgage Brokers; and Jacqueline Rickman, Director of the Tri-Valley Housing Opportunity Center. For more information, please contact David Stark at (925)730-4068 or davids [at] bayeast [dot] org.

We’ll be in attendance as well. We hope to see you there!

Our listing at 2853 Victoria Ridge Court was recently reduced in price to $1,425,000. This beautiful custom home is a great example of the tremendous purchase opportunities the current real estate market is creating. If your family has outgrown your current home, please consider that this home is one of seven homes currently for sale in Pleasanton offering at least 5 Bedrooms and 4000 square feet of living space priced below $1,750,000. Of these seven homes:

• Only one home is offered below $1,500,000.
• Only one home offers expansive views of the Valley and Mt. Diablo.
• Only one home offers sellers willing to consider a “trade in” for your home (Pleasanton homes only. Certain restrictions apply).
• Only one home includes a $50,000 incentive loan buy down of your interest rate (Some restrictions apply). 

Contact us for all the details on this great opportunity.  Or come meet us at this Sunday, 4/27 at our Open House from 1-4pm. In the meantime, click here to tour this home.      Are you wondering what your current home is worth. Use our Market Snapshot to receive real time market updates. Click here to find out more.

 How many homes are currently on the market?

As of 2/29/08, there were 189 single family homes were for sale in Pleasanton. This compares to 130 homes for sale as of 2/28/07 and represents a 45% decrease from a year ago.

Commentary: Although this is a significant increase, it is important to keep the numbers in perspective. 189 Pleasanton homes for sale represents about 1% of the 17,107owner-ccupied Pleasanton homes. The City of Brentwood by comparison has approximately 498 homes currently for sale. Antioch has approximately 1058 single family homes on the market.
Are home sales increasing or decreasing?

During the month of February 2008, 40 homes went pending in Pleasanton. This represents the number of homes for sale that entered into contract. During the month of February 2007, 70 homes went pending in Pleasanton. This represents a decrease of 43% from one year ago.

Commentary: Although this is a significant decrease it is important to keep the numbers in perspective.

One unit of measure that helps us understand the stability of our local housing market is the unsold inventory index. This index is calculated by dividing the number of current pendings for a given month into the number of homes currently for sale. Using that formula the current unsold inventory index for Pleasanton is 4.7 months (189 divided by 40). In other words, at our current rate of sales it would take about 4 and a half months to sell through our current inventory of homes for sale. Although this number is significantly higher than one year ago, it is still relatively stable compared to some other communities.

Are home values increasing or decreasing?

The median sales price for a single family home in Pleasanton as of 12/31/2007 was $835,000. This represents an approximately 2% decrease versus the median price of $850,000 from one year ago.

Commentary: Overall the median price for Pleasanton is holding up fairly well. I believe that prices will stay fairly stable in our community.

What’s Roy’s perspective on the market?

Overall the Pleasanton real estate market continues to show strong resilience and remains relatively stable as compared to much of Alameda and Contra Costa counties. Although available inventory is up from a year ago and sales are down, 40 sales during the month of February represents lass than 5 months of inventory for the Pleasanton resale residential real estate market.  By comparison Livermore, Hayward, and Oakland all have a 10 month supply of inventory on hand. Dublin has an 11 month supply.