Pleasanton’s inventory of detached single family homes declined to its smallest level since 2005, headed by properties listed below $1,000,000. Meanwhile, sales pending had the same rate as December 2009, which is the biggest December level documented since 2006. The market had 2.0 months of inventory relative to sales pending by the end of December, almost the same low level for the year of 1.9 months in February. This somehow gives a bit of positivity that the economy can bit by bit heat up. The New Year will surely improve the inventory. However, it currently appears that demand is quite steady in many sectors of the market in Pleasanton, particularly to most fairly priced properties. Interest rates continue to be at close record levels, so it looks like a lot of buyers have determined that this is an excellent time to make a purchase.
In general, inventory dropped by 35%, to 81 at December’s end from 125 units at November, a total decline of 44 units. There were 40 sales pending in December from November’s 54, a total decrease of 14 or 26%. Inventory relative to sales pending declined to 2.0 months by the end of December from 2.3 months of November.
Single Family Homes in Pleasanton
December 2011 Inventory Vs Sales Pending
Properties listed below $1,000,000 made up 58% of inventory in Pleasanton at December’s end, a decrease from November’s 66%. Inventory declined more significantly in this market segment than any other by 35 units or a total of 43% lose, to 47 at December’s end. 82 homes are available in this market segment at November’s end. Sale pending also dropped but not drastically. There were 35 sales pending during the month of December, a drop of 9 from November. 88% of sales pending in Pleasanton were in this price range in December, an increase from November’s 82%. At December’s end, inventory resulted to 1.3 months in this market segment, in comparison to November’s 1.9 months.
Single Family Homes Below $1,000,000 in Pleasanton
December 2011 Inventory Vs Sales Pending
Homes listed between $1,000,000 and $2,000,000 also had a decline in inventory but not like those listed below $1,000,000. There were 22 properties in this price range at December’s end, a drop of 8 or a total of 27% from November’s 30. There were just 4 sales pending in this market segment in December, in comparison to November’s 10. Inventory resulted to 5.5 months worth relative to sales pending in this market segment at December’s end, an increase from November’s 3.0 months. 27% of inventory in Pleasanton and 10% of its sales pending were from this price range.
Single Family Homes $1,000,000 - $2,000,000 in Pleasanton
December 2011 Inventory Vs Sales Pending
Inventory and sales of properties listed more than $2,000,000 were not as unpredictable as the other price ranges in December. Inventory only dropped by 1 unit to 12 at December’s end, while sales pending rose from 0 during the month of November to 1 in December.
Single Family Homes More Than $2,000,000
December 2011 Inventory Vs Sales Pending
On the whole, it was a really good December for the real estate market in Pleasanton. Demand is very good, as seen by strong sales pending in December. December’s market was a positive surprise, and hopefully will signify that there will be more steadiness this year. Here’s hoping…
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