Buyers Want Homes in Livermore Valley!

The limited supply of homes for sale in Livermore Valley continues to affect prices, according to the latest market data. Strong buyer demand in Livermore has given home sellers an edge, resulting in an average list-to-sales ratio of 100%! Here’s how the real estate market is shaping up for Alameda County, Livermore, and the rest of California.

According to the California Association of Realtors, median home sale prices for Alameda County increased by 7.5% in a year-over-year comparison. The median sales price in Alameda County for September 2012 was $491,670; we saw a median sales price of $457,210 in September 2011.

The days on market for homes in Alameda County continue to shorten, with an average of 59.2 for September 2012. A year ago, Alameda County days on market averaged 67.9.

Livermore home prices are in range of the county median. The average home sale price for Livermore during the last 30 days is $479,678.  Sales activity is brisk, with the average Livermore home spending only 30 days on the market.

Median home prices throughout the State of California are up by 19.5%, compared to September 2011. September 2012 home prices averaged $345,000 statewide; a year ago they averaged $288,700.  Throughout California, days on market are shrinking, with homes spending an average of 39.3 days on market in September 2012, compared to 54.2 a year ago.

Is now a good time to buy a home in Livermore Valley? If the days on market are any indication, a lot of home buyers think so! There is a collective expectation that home prices will continue to rise during 2013, and buyers are anxious to take advantage of the lower home prices they’re seeing today.

The biggest challenge to our market is the scarcity of inventory at the lower price levels. This is pressuring some buyers to go where the inventory is, be it in higher price ranges, or in locations outside of their original target. You can still find a great home for the money in Livermore Valley, but you may need to cast your net a little wider – and work with a real estate professional who can help you!

Local experience counts in  Livermore Valley real estate! 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 reliable professional guidance.

John Kurtzer
Your Livermore Real Estate Expert
RE/MAX Accord

Livermore Real Estate
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