Livermore Home Sellers Enjoy Market Advantage

Livermore home salesAfter enduring a few years of declining home values and a tepid market, Livermore home sellers are back in the driver’s seat. Nor are they alone; shrinking home inventories have meant higher prices and faster sales nationwide.  A recent study by Redfin shows that California real estate leads the trend!

Just how fast it the market? Out of 19 major metropolitan areas studied, more than one-third of homes were sold in two weeks or less during February 2013.

This hot pace is still a step behind California! For example:.

In San Jose, 63.1% of home listings were sold within the first two weeks of hitting the market.

Not to be left out, San Francisco saw 56.8% of home listings sold within two weeks.

Next, we have Ventura at 52.6%,  Los Angeles at 51.3% and Inland Empire at 49.8%.

The scalding sales trends are attributed to a year-over-year decrease in inventory, which has fallen 32%  since February 2012. This has translated into an average home price increase of 13.2%, on a year-over-year basis for the 19 metros in the study.

Here in Livermore, home sales continue to steam up the statistics, with homes spending an average of only 17 days on market. We are just outside of the two-week timeframe seen in other fast-moving markets, but who’s going to complain?

Meanwhile, our average home sale price is up to $573,553. Livermore home sellers are enjoying their command of the market with a list-to-sales ratio of 101%, meaning that most sellers are getting their full asking price, and then some.

While the opportunities look bright for California home sellers in 2013, please remember that market conditions will vary from one neighborhood to another. If  you would like to find out the market value of your Livermore home, ask me for your free home evaluation!

If you are thinking selling your home in Livermore, Pleasanton or Dublin , please contact me for expert guidance! My many years of experience in California real estate will be your competitive advantage!

John Kurtzer
Your Livermore Real Estate Expert
RE/MAX Accord

Livermore Real Estate
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