Now here's a trend we like to see! The median price has gone up by 10% comparing September of '10 to '11. But more interesting is that it's the highest we've seen in that twelve month period. However, this can in part be due to higher priced homes having come down in price, where they are finding a greater pool of buyers, thus helping to raise the median.
Days on market has gone up quite a bit over the same time last year. That's consistent with all the cities of the Tri-Valley, but these numbers can certainly change when the price range or neighborhood data is inspected more closely.
This is a dramatic change. Pleasanton had inventory levels that were higher than both Dubin and Livermore last year, but have now dropped to less than typical levels. Comparing September to September shows the marked change. A couple of reasons for this swing - last year, home buyers bought earlier in the year, and inventory built up as the home buyer's credits expired. This year, purchasing has been followed more traditional patterns. And, without the appreciation that was once the norm, many sellers have decided to stay put for now.
We saw from the chart above that inventory (supply) is down. But this shows that compared to the same time last year, the demand has dropped considerably. It will be interesting to see how the year finishes up when we compared total units sold.
Comments (1)Subscribe to CommentsComment