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More homes on the market and slightly lower sales prices signal the start of a busy real estate season.
The number of single-family detached homes listed for sale shot up from 46 last March to 87 this March. However, only 51 homes sold compared with 63 last March. More supply and fewer sales put some downward pressure on prices.
“While there are more active listings at this time compared with last year, what really hasn’t changed a lot are sales prices. The median sales price is down 4.5%, which is not a big change year-over-year,” said Nancie Allen, 2019 president of the Bay East Association of Realtors.
The median sales price for a single-family detached home in Pleasanton in March 2018 was $1.325 million. This March it was $1.265 million.
As prices ease, buyers moved quickly. A home was on the market in Pleasanton an average of 17 days last March. That dropped to 15 this March. “Pleasanton is still rocking and rolling, buyers are coming in and homes are being sold,” Allen said.
From a seller’s perspective, with prices dropping even slightly and homes selling quickly, they may have a different experience from even just a few months ago.
“Sellers do need to change their expectations a little bit,” Allen said. “They definitely need to listen to their Realtor, and they should not expect their home to go on the market priced as high as last year.”
Allen offered tips for buyers considering Pleasanton, saying, “You better have your ducks in a row when you put your offer in. I know that agents are looking for the best, highest offer with the best terms. Working with your Realtor to have a complete offer package will put you up and over some buyers who may not have done their home work.”
Asked if there is room for negotiation between buyers and sellers, Allen said, “It’s going to depend on property to property. What we’re seeing in Pleasanton is really property-specific.”
She explained the list price to sales price ratio dropped from 104% last March to 99% during March 2019. This means homes sold for slightly less than asking price. It’s still a sellers’ market but buyers have more power.
Allen added, “Properties are being priced well in Pleasanton, but I don’t think sellers should expect huge over-asking offers.”
Editor’s note: David Stark is public affairs director for the Bay East Association of Realtors, based in Pleasanton.
Editor’s note: David Stark is public affairs director for the Bay East Association of Realtors, based in Pleasanton.
Had a great lunch at new Ramen Restaurant 3 days ago. Quick service, Resturant very clean and excellent food.
Also recently had lunch at newly opened Chinese Restaurant (across the street from The Pleasanton Hotel – Dragon City). Food was excellent with friendly service – we’ll be back.
Realtors,
You have a responsibility to the community youre placing people into to ensure they keep up the appearance and quality of community that attracted the buyer to it to begin with.
Several houses on our street have turned over, all $1M+ and of those 3 have let their yards go unmaintained.
And some of these people dont seem to understand what their responsibility is around that. They like the schools and the safe well kept neighborhood, but dont realize they have to contribute to that.
Please put a little emphasis on talking to neighbors about what they want in a good new neighbor and to the buyer about what that reasonably means they need to commit to.
@ BobB is missing the point, not all neighborhoods have HOA’s and a lot of us take pride in keeping our neighborhoods looking nice it doesn’t take a lot of effort plus if you can afford to buy a million dollar plus house you can afford to pay a gardener to come by once or twice a month and do the basics. Please don’t drag down my neighborhood, that home you bought probably looked nice when you bought it at least maintain it.
When you ask for diversity you get diversity and all that comes with it quit being so racist it’s their house and yard. Some cultures dont view upkeep the same way is you. You reap what you sow
……this isn’t about race. What am I missing here?
Yea actually it is. it’s the 21st century everything is about race . Clearly the 1960,s were a waste of time
Well, this forum is going way off track….
It seems it all started with the very first post…
This issue is very simple, talk to your neighbors and see any help is needed to look good. I believe every home owner takes pride in their home. There could be many things happening in the background. If you are a buyer, for the first two years or more, every penny counts and people see what is must to spend and budget accordingly. If they are first time home owners they may need help in getting the yard clean, tools or landscaping companies etc as they may new to these activities..
@PP,
That is up to a homeowner’s association, not a realtor.
If your neighbors are complying with the laws and the rules for your neighborhood, then that is their business. High school ratings come from high test scores, not well groomed lawns.