Number of Actives last week: 82
Number of Actives this week: 106
That is a 29.27% increase
Average Days on Market: 37
Median Price: $762,500
Average Price: $945,473
Number of Actives last week: 76
Number of Actives this week: 101
That is a 32.89% increase
Average Days on Market: 48
Median Price: $1,239,000
Average Price: $1,620,432
Number of Actives last week: 52
Number of Actives this week: 58
That is a 11.54% increase
Average Days on Market: 37
Median Price: $880,000
Average Price: $906,012
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:
No surprise here. We have seen this over the last 12 months. The stats now show what I have been saying for quite some time. The Tri-Valley shines with a hefty median sales price increase from last year but the decline in appreciation and sales will eventually erode affordability to a point where we people will begin to ask “How high can we go?”. This is always something to consider when buying a home…………
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
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
In case you hadn't heard, we are now seeing some homes sit on market in Livermore. It's not the end of a good market, it's just a sign that there has been a small shift that you need to know about. When you combine rising interest rates with Sellers who price homes on the very edge of high value, it's a recipe for increased market days.
How do you avoid this as a Seller? Ask you agent to give you a range of value when listing your home and price your home on the lower side. The worst that can happen is that you will get multiple offers if the market thinks the price is too low. You just can't go wrong with this strategy. Using this strategy has helped me keep an average days on market of 7 for all my listings this year. This average is the lowest in Livermore. I hope to keep this average!
Contact me for more information!
What a crazy time is has been lately in Livermore real estate. Sellers have come out of the woodwork. I can tell you exactly what’s going in the real estate market in several sentences. Livermore inventory is UP, Prices are WAY up, BUT the frenzied market is now stabilizing and we are seeing less offers on properties.This reason is two-fold. Interest rates increasing has dampended demand somewhat and many Seller’s over-pricing their homes is now leading to homes sitting on the market. It’s not a coincidence you are seeing more for sale signs. The general trend right now is that Sellers are finally realizing they have a lot more equity than they did last year. Long-time owners are hitting the road and families are looking to move up. Retirees are moving to places like Trilogy in Brentwood.
Have you ever heard Trilogy Brentwood? If not, you need to look there. I have helped three differenct couples move there this year alone. If I was 55 that is where I would be moving to. For more information please call me. I can connect you with Gail Washaeur out there. She is one of their sales reps.
Wonder what your home is worth and what you should do to prepare it? Please call me today. I can help.
We have seen a jump in the inventory of available homes for sale in Livermore and surrounding areas. We saw a noticeable drop off in demand little over a month or so ago. This slowdown was probably a direct result of the increasing costs to finance a home. Interest rates have climbed quickly making a home purchase that much more expensive. Rather than seeing 15 to 20 offers on a home we are now seeing 2 to 5 offers and now some homes are sitting on market for a period of time. These Sellers may have gotten a little greedy and listed their homes too far over other comparable sales.
Although financing is now more expensive, you might wonder what this increased inventory means for you as a Buyer? It means you now have more options and less competition to deal with. If you have been sitting on the sideline for awhile, now is good time to have a second look. If you are using FHA financing you might want to re-enter the Buyer arena. FHA Buyers had been sidelined for quite some time in the heat of the frenzy. Things have changed! We are seeing a return to “ more normal “ market conditions.
If you are considering a sale or purchase please contact me today. I specialize in the Livermore market area and work with my team to help serve you.
Please join me for a complimentary consultation on Wednesday, February 29th between 5:30 PM & 7:30 PM.
Come with your questions about the short sale process, foreclosure prevention, refinance, bankruptcy and credit restructuring. I can also provide you with a market analysis.