Detached home sales on the previous post showed a 21% increase in median home price. Look at the jump for attached homes - 37%! This is a good reminder about stats - comparing like properties will give you a better feel for your home type than looking at market stats for both detached and attached homes.
These homes are taking a little bit longer to go into contract that a year ago. This may be in part due to HOAs as buyers and their lenders have more to consider before placing their offer. And, this market segment is appealing to investors, so some of the properties may be tenant occupied with less convenient showing times for would-be buyers.
Supply was flat comparing year to year numbers, although this shows a decrease in demand. Demand in this case is measured by closed sales. The number of buyers out looking far surpassed the number who were actually able to buy and close a sale. Demand across all property types for Livermore was stronger in 2013 than the previous year, but it hadn't quite jumped the way it did during the typical spring selling season.
Before we get too excited about the upward trend in supply, let's look at what that really implies. Last January we had just barely over 2 weeks supply of attached homes for sale. And this January, we were up to just shy of 1 month's supply. Breaking that down to actual homes on the market (about 34 homes for a 30 day window), it's not a great variety. Remember, this category includes townhomes, condos and duets of all sizes and price ranges. So if you're looking for a 3/2 townhomes in your preferred price range, there might not even be one.
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