The market has been pretty quiet among many Bay Area cities over the last few months of 2015, including Pleasant Hill. Home sales declined in all nine Bay Area counties in the first month of 2015 which was the the result of limited affordability, according to a report released by the California Association of Realtors. Additionally the sales drop-off in the Bay Area was attributed to intense demand and inventory shortages, which have driven up prices. The report also stated that the Bay Area was the only region in the state where the average home seller could expect to take in about 100 percent of original asking price. This is obviously great for sellers but buyers are in a state of limbo. With that, homes haven’t been moving as quickly as they were in 2014.
In Pleasant Hill, the median sale price in February was down year over year by only 1%, from $644,500 to $637,000. The number of properties for sale in the month of February was 50, compared to 62 last February and roughly 42 in January of this year. Things picked up in February so hoping this trend continues so the market can level out. The number of new properties shot up from January to February, from 22 to 27, nothing substantial but an increase at that. The number of sold properties increased just 6%, from 16 to 17. Lastly, the average days a home sat on the market drastically increased from January to February, from 19 to 34, which is quite the opposite of most Bay Area cities. Pleasant Hill real estate was all over the map this month.
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