Livermore Valley real estate market reports for the first quarter of 2011 show a brightening picture. Let me show you what I mean with a quick summary of the home sales data I’ve shared in my prior blogs.
In nearly all price ranges for Livermore, Dublin, and Pleasanton, there are more contracts pending and closed sales for the first quarter of 2011, than there were for the last quarter of 2010.
The exception to the trend is the Dublin price range of $750,000 to $999,000, which shows a slightly softer first quarter for 2011 with an average of 67 days on market.
Each local market has a sweet spot, and for each local market, it’s different. Based on sales data for January through March of 2011, here is where the action is:
Livermore price ranges of $750,000 to $999,000 average 29 days on market.
Dublin price ranges of of $500,000 to $749,999 average of 20 days on market.
- Pleasanton price ranges of $300,000 to $499,999 average 27 days on market.
While we’re seeing improvements over the last quarter, note that home prices for the first quarter of 2011 are softer than they were a year ago. This is because of the temporary tax credit for first-time buyers that stimulated the real estate market in early 2010. For this reason, comparing the first quarter of 2010 to the first quarter of 2011 isn’t exactly apples to apples.
That said, let’s look at the 2011 first quarter activity for Livermore Valley homes priced $299,999 and under:
- Livermore – 59 days on market
- Dublin – 48 days on market
- Pleasanton – 52 days on market
Despite the affordability of the $299,999 and under price range, these properties are taking longer to sell than many higher-priced homes. A few things could contribute to this trend. Namely, the absence of the first-time homebuyer tax credit; the tightening of mortgage underwriting; and the number of properties for sale in this price range.
What should you expect when selling a home in Livermore Valley? First of all – you should expect it to sell! As your Livermore Valley real estate professional, I have the experience and market insights to create the sales strategy you need. To find out what you can expect in today’s market, contact me today for your free Home Evaluation.
Your Livermore Real Estate Expert