As we noted in our previous post, there are good opportunities for buyers right now. Likewise, this is a great window of opportunity for sellers in the Pleasanton and Tri Valley real estate markets. Check out the items below to find out why listing your home during the holidays is sometimes a savvy decision:

By selling now, you may have an opportunity to be a non-contingent buyer during the spring, when many houses are on the market for less money. This will allow you to sell high and buy low.

You can sell now for more money and we will provide for a delayed closing or extended occupancy until early next year.

Even though your house will be on the market, you still have the option to restrict showings during the six or seven days around the Holidays.

January is traditionally the month for employees to begin new jobs. Since transferees cannot wait until spring to buy, you need to be on the market during the Holidays to capture that market.

Some people must buy before the end of the year for tax reasons.

Buyers have more time to look for a home during the Holidays than during the regular work week.

Buyers are more emotional during the Holidays, so they are more likely to pay a higher price than any other time.

Houses show better when decorated for the Holidays.

Since the supply of listings will dramatically increase in January, there will be less demand for your particular home. Less demand may mean less money for you.

Serious buyers have fewer houses to choose from during the Holidays and less competition may mean a higher sales price for you.

People who look for homes during the Holidays are more serious buyers.

If you are considering selling your home, contact us. We’ll discuss the reasons why it makes sense for you to sell in this market.

J.D. Power and Associates 2008 Home Buyer and Seller Survey ranked Keller Williams highest among real estate companies in buyer satisfaction.

Keller Williams scored highest in the three home buying categories: agent, office, and services. “When buying a home, customers particularly appreciate agent professionalism, responsiveness to calls and e-mails and the agent’s skill in locating and showing properties in the appropriate price range-all areas in which Keller Williams excels,” said Jim Howland, senior director of the real estate and construction practice at J.D. Power.

 Additionally, the survey found that despite the popularity of online home buying and selling tools, real estate agents are the key to customer satisfaction.

Click here to read all the results of the survey.

 If you’re thinking about buying or selling, we’d be happy to meet with you for a complimentary consultation. Or if you want to keep an eye on home values in your neighborhood, sign up for our Free Market Snapshot Report. Click here to sign up.

Mid Year Market Update

The first six months of 2008showed mixed results for our Pleasanton Real Estate Market.  Overall the market appears to be searching for some semblance of normality.  Let’s call it the new normal.

SINGLE FAMILY HOMES:  Inventory levels are up for single family homes from this time last year.  There are currently 253 single family homes available for sale. That is up 21% (209) from one year ago. The year started out with 135 and has nearly doubled since then.   For the moment inventory levels are actually pulling back slightly.  The month of June started out with 262 homes. 

Sales activity for June 2008 vs June 2007

 Sales activity for Jan-June 2008 vs. Jan-June 2007 

As you can see, the number of sales is down dramatically from the same period of one year ago.  This is at least partly due to the difficulty associated with obtaining financing.

TOWNHOMES & CONDOMINIUMS:  Inventory levels are fairly flat from one year ago.  There are currently 69 townhomes and condominiums available for sale.  This is down slightly from one year ago (72). 

At the current pace of sales Pleasanton presently has an unsold inventory index of 8 months. This is a number used to measure the strength of sales activity in a market place.  The bright spot for this category is that inventory levels have remained very flat since one year ago.  This is very significant since other communities are seeing a dramatic increase in inventory.

SUMMARY

Although the number of sales compared to the same period a year ago is down significantly, the pace of current sales activity is fairly stable relative to inventory levels.  At the current rate of sales, June should end with approximately 50 sales for single family homes. 

 At the current level of inventory of 250, that represents about five months worth of inventory.   The next two months should give us an idea of what direction the market is headed.  There are many potential buyers going through open houses and many of my Realtor colleagues are busy writing offers.  Financing restrictions are loosening up a bit although rates have bumped up recently.

Our listing at 11 St. Michel Court in San Ramon was only on the market for 19 days before it went in to contract. The average number of days on the market for single family homes in San Ramon for the month of May was over 50 days.

Considering selling your home? Click here to sign up to receive our free, real time market updates. These reports will keep you updated on what’s happening in your local market. Or contact us directly. Our seller consultations are always complimentary, straight forward and geared toward your best interests.

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.