I always knew that home ownership brought stability and it’s nice to see how the statistics indicate this. I thought long and hard when we picked a tag-line. “Building community one family at a time” is really something to believe in.
Happy Monday to Everyone! I shared these number with a few clients and they asked if they should be worried about the rise in inventory. ” Nahh, I told them.” When I first got my license in December of 2005 I think we had about 600 homes on market, or some crazy number like that. Increased inventory is just another sign that we are headed toward the more “normal” Market I have been talking about lately. No need to worry.
The Tri-Valley real estate market remains very healthy as we lag the frenzied Silicon Valley market. Our sales climate seems to follow suit with them. They are not seeing signs of a slowdown yet. When we start to see more of those high income earners running toward Livermore and Pleasanton, It might be a sign that the South Bay market is too high and that mentality will spread. I still feel we have another 1.5 to 2 years on the upside before we see a real turn in the market.
I’ve never professed to have a magic ball but I’ve been in the business long enough to see the initial stages of a market change from down to up and back again. We have now seen a slowdown in the upswing which will eventually level off and trend down over time. If you are long-term purchaser, these things are not such a big deal.
Here are this week’s Livermore market statistics:
New listing in Livermore. Wow, What a great home for $505,000. 3 beds and 2 baths 1064sf. All updated and ready for new ownership. It’s just gorgeous. Cute really is an understatement. Call Natalie Swanson for all the details and for information about our other up and coming team listings.
Other coming soon listings:
662 Zircon Way, Livermore
57 Agate Court, Livermore
12046 Glenora Way, Sunol
1452 Onyx Road, Livermore
1684 Genoa, Livermore
Keller Williams Tri-Valley
2300 First. St. #316
Livermore, CA 94550
Here are this week’s Livermore market statistics:
Number of actives this week: 145
Number of actives last week: 141
That is a 2.84% increase
Average days on market: 40
Median price: $628,794
Average price: $805,071
Number of pendings this week: 138
Number of pendings last week: 134
That is a 2.99% increase
Average days on market: 28
Median price: $599,975
Average price: $661,486
36 properties have gone pending since the beginning of the month. That’s an average of 3.27 per day. Market days is trending a little higher but overall market seems to be doing just fine.
How does this affect you? Call me for answers. 925-580-9829 Homes@natalieswanson.com
Keller Williams Tri Valley 2300 First St. #316 Livermore, CA 94550
I wish I had a crystal ball to show what the real estate market in the Tri-Valley was going to do. In reality, nobody has this magic ball, but we are able to intelligently guess what is going to happen by considering a variety of indicators and subjectively concluding a predictable future. If you believe that markets actually do have cycles then it’s pretty darn simple. Expect for Livermore and the surrounding market to plateau over the next 18 months and then gradually hit a down cycle. If you are an investor, now is NOT the time to buy for cash flow in Livermore and the surrounding area. Most pricing is just too high in the detached market. Muli-units need to be viewed independently.
If you are first time homebuyer or a move-up Buyer and are considering a long term purchase, now is the time to buy. Holding long term will weather any market decline. A long term strategy makes people wealthy with real estate. If purchasing for a shorter duration, lets say less than 4 years, you may want to consider a 5 or 7 year variable rate loan, and make sure you get a good deal when you purchase.
In the short term as we enter the August, 2014 Tri-Valley market, we will see increased market days, higher inventory and return to a more balanced real estate market. Sellers will pay a heavy price if they over price their homes. Nicely priced homes will still sell fairly quickly. It’s critical for Sellers to understand pricing dynamics and trust their agent with pricing recommendations.
Contact me today for a complimentary market analysis or to discuss your personal real estate needs. We are happy to help you here at the Swanson Real Estate Team.
Natalie Swanson, Team Leader
Keller Williams Tri-Valley #01709115
This brief market summary will provide all the information you need to know about what the market looked like this past week.
Here are this weeks Livermore market statistics:
> Number of actives this week: 139
> Number of actives last week: 116
> That is a 19.83% increase – BIGGEST INCREASE SINCE WE’VE BEEN WATCHING THIS!
> Average days on market: 34
> Median price: $679,234
> Average price: $837,409
> Number of pendings this week: 124
> Number of pendings last week: 124
> Average days on market: 29
> Median price: $588,995
> Average price: $642,213
> 35 properties have gone pending since the beginning of the month. That’s an average of 2.33 per day
Natalie Swanson Keller Williams Tri-Valley 2300 First St. #316 Livermore, CA 94550
Buyers have suffered enough over the last 24 months while trying purchase homes here in the Tri-Valley, especially in my backyard, Livermore, CA. If you are a Buyer, it’s time to dry your tears. A new kind of real estate market has arrived. We have seen a shift to longer market days and price reductions. We have returned to a more “normal” market.
What does a more “normal” market bring? It brings the contingent Buyer. With less competition a Buyer can now make an offer on a property and not have to compete for the home. Good news! I’ve been in sales now for 9 years and just had my first back to back to back contingent sale process. There are so many things to consider during the negotiation process.
This market still requires a professional. Do you need one? Please call us today. We are happy to help you navigate.
Natalie Swanson, Keller Williams Tri-Valley. BRE#01709115
Prices continue their trend up. While listing prices continue to rise, Buyers are now responding by allowing more and more overpriced listings to sit on market. It’s now a much better time to buy with less competition. Natalie Swanson BRE#01709115 Keller Williams Tri Valley
Home is located in the Beautiful Sunset East neighborhood close to the award winning Sunset Elementary School. The interior of the home is updated with laminate flooring, tile flooring in the bathrooms, and an open kitchen and great room. In the family room there is a fire burning stove. The backyard includes a shaded patio and a play house.This prime living location is close to wine growing area and down town Livermore.
1888 Buena Vista Ave, Livermore. $900,000 3 beds, 2 baths, built in 1968. 2060sf home on nearly 1 acre lot(200ft less than 1 acre) Shop/barn/garage/tack grandfathered in. Nice wide lot with lots of potential. Incredible opportunity to live on a county road so close to town. New and refinished hardwood. Updated kitchen. Long term owner of 40 years.
Keller Williams Tri-Valley Realty
2300 First St. #316
Livermore, CA 94550