How many homes are on the market in Pleasanton?
The number of homes for sale continues to increase at a steady pace. As of 05/28/2008, there were 255 single family homes for sale in Pleasanton. This compares to 202 homes that were available for sale at the end of May 2007. This represents a 26% increase from the same period one year ago.
Are home sales increasing or decreasing?
At the same time sales activity levels are far below this same time last year. For the 1st quarter of 2008, 91 homes sold in Pleasanton compared to 197 for the 1st quarter of 2007. This represents a 46% decrease from the same period of one year ago.
Are home values increasing or decreasing?
As of 4/30/08, the median home price in Pleasanton was $823,000, a decrease from $895,000 in April 2007. This represents an 8% decrease.
What’s Roy’s perspective on the market?
42 homes are reported pending as of 5/28/08. This represents a significant increase compared to the average of 30 per month for the 1st quarter of this year although not as strong as the 65 sales reported in April. The breakdown of the prices are shown below.
Under $750, 18 Pendings, 43% of Sales.
$750 to $999, 6 Pendings, 14% of Sales.
$1M to $1.499M, 11 Pendings, 26% of Sales.
$1.5M to $1.999M, 4 Pendings, 9% of Sales.
$2M plus, 3 Pendings, 7% of Sales.
Here is the breakdown by price category of Pleasanton single family homes currently available for sale:
Under $750K, 75 actives, 29% of inventory, 4 months of inventory at current sales pace.
$750K to $999K, 68 actives, 27% of inventory, 11 months of inventory.
$1M to $1.499M, 35 actives, 14% of inventory, 3 months of inventory.
$1.5M to $1.999M, 35 actives, 14% of inventory, 9 months of inventory.
$2M plus, 41 actives, 16% of inventory, 14 months of inventory.
255 total active listings and 6 months of inventory.
As you can see, certain segments of the market are performing better than others. Overall 42 total pendings out of 255 available for sale represents about 6 months worth of inventory. A closer look at this unit of measure called the unsold inventory index shows that under $750,000 and $1M to $1.5M are in very high demand compared to the other price brackets.
