The Tri Valley in Northern California (consists of Livermore, Pleasanton and Dublin). Market statistics are always interesting, but so too is the context from which they come. What does it all mean?
Active Listings as of July 2, 2010
City Detached Other* Total Livermore, 14% of market is REO
Livermore 194 28 222 25% of market is Short Sales
Pleasanton 195 53 248
Dublin 68 75 143
Pending Listings as of July 2, 2010
City Detached Other* Total Pleasanton, 3% of market is REO
Livermore 206 75 281 10% of market is Short Sales
Pleasanton 118 57 175
Dublin 85 73 158
Sold Listings in June 2010
City Detached Other* Total Dublin, 9% of market is REO
Livermore 81 18 99 14% of market is Short Sales
Pleasanton 20 16 86
Dublin 29 25 54
* Other consists of townhomes, condos, patio homes and duets.
Inventory levels are still running a bit below average levels. In some price ranges, buyers have little to choose from Multiple offers occur in all three areas, although not it all price ranges. The percentage of distressed home sales in the region has certainly dropped, in part due to loan workout efforts, but also due to the uptick in sales activity. One local appraiser told me this was the best 'fliiper' market in the 25 years he's been doing appraisals locally.