Inventory in Livermore has never been this low since way back April 2005. Since 2005, it’s the first time for this neighborhood to have less than 100 single family detached homes for sale. It’s also the first time since the abovementioned period that inventory was outpaced by the sales pended through the month.

It is also the first time since then that sales pended during the month outpaced inventory levels.  Pended sales went up in the month of June, therefore we conclude that demand is showing no signs of easing off.

Lower by 27 (22%) from 121 homes at the end of May, there have been 94 homes for sale at the end of June. Now there exist less than one third the available homes for sale in this neighborhood as there were in April of last year when the inventory reached 295 homes. There were 104 pending sales in June, which is a 5% increase from 99 homes in the month of May; leaving .9 months of inventory relative to pended sales, versus 1.2 months for May.  

  

97% of Livermore’s pended sales during June and 73% of month-end inventory are homes that are priced at less than $1 million. Inventory in this section declined from 98 units to only 96 at the end of May. The sales that pended went up a little to 101 homes within June from 98 homes within May. As compared to 1.0 month for May, the inventory comparative to pended sales declined to .7 months for June.  

   

For homes in Livermore that are priced above $1 million over June, the activity has slowed down. The pended sales went up by two homes for a total of three within the month while inventory remained the same at 25 homes. 

  

Having distinct falling inventory and very strong demand, the lower end of the market continues to affect Livermore’s real estate market. The participation of sellers is badly needed but they seem hesitant to get in the game.

 

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