According to David Stark, public affairs director for the Bay East Association of Realtors based in Pleasanton, the East Bay region had less supply during October compared with the same period last year, but did not have the increase in prices that normally accompany less inventory.
For the entire East Bay in October, inventory dropped 20%, while prices increased, on average, 2%. In the Tri-Valley, sales activity was strong, according to Stark. He reported, "More than 40% more homes sold in Alamo and increased more than 20% in Danville, Livermore, Pleasanton and San Ramon."
"The inventory of homes for sale was mixed in the Tri-Valley," Stark stated. "There were more than 20% fewer homes on the market in Danville, Dublin and Livermore. More homes were for sale in Pleasanton and San Ramon."
Sales prices during October remained fairly stable, according to Stark.
This all means that Pleasanton homeowners considering selling in 2020 may need to adjust their expectations as far as sales prices, but it's still a good time to sell because Pleasanton continues to be a really desirable area.
"Even though prices have remained stable during 2019, they are still at historically high levels so it still makes sense to sell," said Nancie Allen, 2019 president of the Bay East Association of Realtors. "Sellers still need to figure out that if they sell, where will they go to buy."
For homeowners staying in Pleasanton, Allen recommended thinking strategically before starting any home improvement projects. She questioned the value of a major kitchen or bathroom remodel in the current real estate market, specifically to prepare a home for sale.
"If you're planning to sell within a year, I typically wouldn't suggest putting big money into a remodel. If homeowners are planning to stay put for four to six years, it does make sense to do some remodeling and be able to enjoy those improvements," Allen added.
Realtors can help potential sellers with the process of preparing a home for sale.
While sales prices in Pleasanton flattened during 2019 and are predicted to remain stable during 2020, Allen observed that home ownership is still attractive, saying: "Pleasanton continues to be a really desirable area because of the schools and the amenities. Pleasanton is a great place to live and work."
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