Loading ...The Pleasanton CA real estate market saw a spike in activity in April, as pending sales for the month rose to their highest level since June 2007. Despite continuing dismal news on the national and regional real estate markets, and shaky economic indicators, many buyers in Pleasanton are deciding that values have reached a point where they are very attractive, and are deciding to act. This is yet another example of why there is no “real estate market”, but rather a series of micro markets that vary in terms of activity, outlook, and strength. Even within the city of Pleasanton there are neighborhoods and areas that are fairing much better than others. But as a whole, Pleasanton saw a strong month of activity in April. There were 67 pending sales for detached homes in April, up from 35 in March, and 43 in February. Inventory rose to 221 homes on the market at the end of April, up from 206 in March. This is perhaps a sign that this summer could see strong activity, certainly welcome news (click on graph to enlarge).
In the under $1 million price range, there were 42 pending sales in April, up significantly from 26 in March and 30 in February. Overall, 2/3 of the sales were in the under $1 million price range. Inventory rose to 118 available single family homes at the end of April, up from 106 at the end of March (click on graph to enlarge).
In the $1 million to $2 million price segment, activity was up significantly. There were 20 pending sales in April, making it the most active month in this price segment since May of 2006. March saw 8 pending sales in this price segment, so it was certainly a good month. Inventory rose slightly, with 70 homes on the market at the end of April as compared to 67 at the end of March (click on graph to enlarge).
In the over $2 million price range, activity was up as well with 5 pending sales in April as compared with 1 in March and 3 in February. Inventory remained unchanged, with 33 homes on the market at the end of April (click on graph to enlarge).
Overall, the spike of activity is certainly welcome news. With many sellers getting more aggressive on pricing, many buyers are getting off the fence and taking advantage of the values available in the marketplace. With interest rates remaining low for the foreseeable future, there is hope that this will be an active summer for the Pleasanton housing market. Only time will tell….
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Pleasanton Market Update - Pending Sales Double in April