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The economic forces that impact housing affordability in general also influence luxury real estate here in Pleasanton.
The National Association of Realtors reported that existing-home sales fell 3.6% month-over-month nationally during March 2026, and rising mortgage rates have led NAR to trim its sales outlook for the year.
Dr. Lawrence Yun, NAR chief economist, recently noted housing headwinds like softer consumer confidence and slower job growth are real, and both homebuyers and sellers feel them.
Similar trends are occurring in the Pleasanton real estate market. Overall, sales dropped from 29 homes during March 2026 compared with 39 homes during March 2025. However, that drop wasn’t felt by all segments in the market.
Sales actually increased in homes priced from $1.3 million to $1.6 million in Pleasanton compared to March 2025, and there was almost no change in the sale of homes priced at $3 million and more. The data tells us the demand for homeownership particularly at the “luxury” level is still very much alive.
“The Tri-Valley continues to attract buyers who are looking for quality of life and long-term value. Even when the broader numbers soften, these communities hold their own because the fundamentals are strong and people still want to live here,” said Bill Espinola, 2026 president of the Bay East Association of Realtors.
An example of the sustained high demand for homeownership is seen in how long a home is on the market. In this case, what didn’t change tells an important story. The average days on market for single-family detached homes in March 2026 was 15, which is the same amount of time that was seen a year ago.
The number of homes for sale is another indicator of where the local real estate market is heading. Pleasanton’s active listings dropped about 36% year-over-year during March.
Fewer listings in a desirable market like Pleasanton can mean more competition for the right home, and that decisive action matters.
“Inventory is tightening in some of our communities including Pleasanton, and buyers who are prepared and working with a knowledgeable Realtor will be in the best position to move quickly when the right home comes along,” Espinola said.
Nationally, even with the revised forecast, NAR still projects existing-home sales to increase 4% for the full year of 2026 and expects home prices may rise about 4% as well. The foundation has not cracked.
“We’re seeing a more measured market than we’ve seen in recent years, but that’s not necessarily a bad thing. For serious buyers in the luxury tier, a more balanced pace can actually mean more time to make thoughtful decisions,” Espinola said.
Working with a local Realtor who understands the microtrends within each community, not just the national averages, is more important than ever.
Editor’s note: Devin Davis is a public affairs specialist for the Bay East Association of Realtors, which is based in Pleasanton.
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