While inventory and sales pending of detaches single family homes in the neighborhood of Pleasanton rose for the 2nd consecutive month in February, both segments also continued to be lower than the rates from last year’s February. Properties priced between $1,000,000 and $2,000,000 headed the increase in the rates of inventory, while the market segment for properties priced below $1,000,000 had the biggest increase in the rates of sales pending. Despite the number of properties being sold in Pleasanton was smaller than previous year’s February (or for any of the last 7 years) inventory relative to sales pending was similar – February 2011 with 1.9 months and February 2012 with 1.8 months.
In general, 98 detached single family homes were being sold by the end of February, an increase by 15 or 18% from 83 of January. 126 properties were on the market in the previous year’s February. Sales pending went up by 20% to 54 in February from January’s 45. Inventory relative to sales pending was unmoved from 1.8 months of January
Single Family Homes in Pleasanton
February 2012 Inventory Vs Sales Pending
Properties listed below $1,000,000 remains to be the main neighborhood in Pleasanton, having 81% of sales pending in February & 56% of inventory. Inventory went up by 12% to 55 properties by the end of February, from January’s 49. When compared, there were 82 properties available in this market segment in February of 2011. Sales pending also went up by 25% during the month of February to 48, from January’s 35. There were a total of 50 sales pending in the month of February of the previous year. 1.3 months of inventory was in the market in this market segment, relative to sales pending, at February’s end, a small drop from January’s 1.4 months.
Single Family Homes Below $1,000,000 in Pleasanton
February 2012 Inventory Vs Sales Pending
The inventory of properties listed between $1,000,000 & $2,000,000 went up by 41% in February from January’s 22 to February’s 31. Sales pending were actually smaller in the month of February than in January, 9 and 10 respectively. That resulted to an up in the rate of months of inventory in the market relative to sales pending; 2.2 months in January and 3.4 months in February.
Single Family Homes $1,000,000 - $2,000,000 in Pleasanton
February 2012 Inventory Vs Sales Pending
There aren’t much changes that occurred in the market for properties listed more than $2,000,000. Inventory is unaffected at 12 and there was only 1 sales pending in February, contrary to 0 in January.
Single Family Homes More Than $2,000,000 in Pleasanton
February 2012 Inventory Vs Sales Pending
Although the total inventory is lesser in Pleasanton, relative to sales pending, it is in the same rate with the levels of February in the last several years. The deficiency in inventory can limit the level of sales. Let’s wait and see if that happens. The big question is what happens in the market at Spring – will the demand be able to absorb the up in inventory.
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