Autumn Sales Trends for Livermore Valley!

September home sales  in California were lower than August by 6.2%, marking the beginning of a seasonal slowdown.  Statewide, 35,404 units were sold in September as compared to 37,734 in August. 

Looking back a year ago, September 2010  home sales totaled only 33,176.  On the whole, California home sales improved in volume on a year-to-year basis, with a gain of 6.7%. 

Despite the increased sales activity, home prices remain softer than what we saw a year ago. This is due to the continued presence of short sales and foreclosures in the market. 

Throughout California, distressed properties accounted for nearly half of all September 2011 home sales activity.  The discounted prices of these properties continue to attract investors.  But these discounts also affect the market values of area homes. 

Half the battle of clearing  foreclosures and short sales, is preventing more homes from becoming distressed properties.  In many cities where high unemployment is a factor, it’s difficult to stop new dominoes from falling.  

This is what separates Livermore Valley from much of California and the rest of the country, and gives our home sales outlook more optimism.  Unemployment levels in Livermore are at 7%.  While this isn’t great news by itself, it’s better than Oakland’s 16% and also beats the national average of about 9%. Meanwhile, Dublin has unemployment of 6.5%, and Pleasanton shows a jobless rate of 5.4%.    

Stronger employment figures means fewer mortgage defaults, and in turn, fewer distressed properties, which eventually lead us to improved home values.

Livermore Valley’s diverse economy, scenic vineyards and pleasant climate continues to attract new residents to our area. I pay close attention to local market data in order to give my clients the best information possible. If you are thinking of buying or selling a home in Livermore, Pleasanton or Dublin, get the expertise of a Livermore Valley real estate professional.  I can help you with all of your real estate needs, so contact me today!

John Kurtzer
Your Livermore Real Estate Expert
RE/MAX Accord

Livermore Real Estate
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