Home Prices Heat Up in Livermore Valley!

Livermore Valley home prices have warmed up this summer! According to the California Association of Realtors, median home sale prices for Alameda County increased by 1.5% in a year-over-year comparison. The median sales price in Alameda County for June 2012 was $493,240.

Homes for sale also spent fewer days on market. The median days on market for Alameda County were just 59.5 during June 2012.  A year ago, days on market averaged 65.3.

Another sunny spot in real estate news is the statewide reduction of distressed property sales. Traditional equity sales accounted for 58% of the California housing market during June 2012. Bank-owned properties and short sales came in at 42% of the market.  A year ago, distressed properties claimed 49.5% of the market.

If there’s any bad news within the good news, it’s the fact that home inventories are low, especially in the $400,000 and under price range. This is discouraging to home buyers who waited for better bargains, only to find fewer homes to choose from. Consequently, sales have slowed somewhat in the lower price ranges, while homes priced above $500,000 have good sales activity.

As you climb the price ladder, sales volumes remain positive. June 2012 home sales in the 1-million plus price range were up 18.5% from a year ago. Prices in the luxury home market have held on to gains during the early summer. While there has been talk of a “fiscal cliff” effect among affluent homeowners, we have yet to see it materialize in California.

While these statistics help us understand the direction of the market, individual home values are always unique. The location of your home, along with the amenities and condition, have a large bearing on its value. This is why local experience counts in  Livermore Valley real estate! If you are wondering about your home value, let me prepare a comparative market analysis for you.

For the latest home sales activity for your neighborhood, contact me! I have the local expertise you can trust for Livermore, Pleasanton and Dublin! Whether you are buying or selling a home, I can provide the latest market data and the professional guidance you need.

John Kurtzer
Your Livermore Real Estate Expert
RE/MAX Accord

Livermore Real Estate
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