Worry? Nahhh!

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:

  •  Actives:
  • Number of actives this week: 166
  • Number of actives last week: 159
  • That is a 4.40% increase – 3 weeks in a row we’ve had increases!
  • Average days on market: 41
  • Median price: $631,397
  • Average price: $788,097
  • ++++++++++++++++++++++++
  • Pendings:
  • Number of pendings this week: 124
  • Number of pendings last week: 127
  • That is a 2.36% decrease – Two weeks in a row we’ve had a decrease!
  • Average days on market: 26
  • Median price: $564,975
  • Average price: $657,944
  • 70 properties have gone pending since the beginning of the month.  That’s an average of 2.8 per day.
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About the Author Bill

I help small businesses be more successful.

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