Since we’re at the end of the quarter, we’ll look at the broader picture and compare 3rd quarter 2018 to 3rd quarter 2019.
This quarter, inventory was up 6%, from 1,682 homes for sale in 2018 to 1,791 homes for sale in 2019.
The number of pending homes in the 3rd quarter also increased, from 1,601 last year to 1,723 this year, an increase of 7%.
The number of homes that sold was flat – 1804 last year and 1809 this year. We continue to have buyers absorb the increase in inventory as demand remains strong.
The number of days on the market increased from 22 last year to 28 this year. And the sales to list price fell from 101% last year to 99% this year.
Let’s see how median prices have fared compared to this time last year.
In Danville, the prices were down almost 1% to $1.38M
In Alamo/Diablo prices were up 10% to $1.82M
In San Ramon prices were down 9% to $1.12M
In Dublin prices were down 3% to $1.05M
In Pleasanton prices were down under a percent to $1.22M
In Livermore, prices were down 3% to $815K
In Walnut Creek, prices were up 4% to $1.2M
In Pleasant Hill prices were down 2% to $810K
In Concord prices were up 3% to $640K
In Lafayette, prices were up 5% to $1.5M
In Orinda, prices were down 1% to $1.48M
In Moraga prices were up 7% to $1.43M
Over the last year, we’ve seen homes take longer to sell and prices have softened in most markets. Despite an increase in inventory though, buyer demand remains strong thanks to low interest rates.
So if you’re thinking of selling, be sure to work with an agent who is going to go above and beyond to showcase your home and get you the price you want and the terms you need. Curious how we do that for our clients? We’d love to show you!
If you’re thinking of buying, when you see a home that may be The One, be sure to act fast because other buyers may have their eye on it too. It’s important to work with an agent who will help you find opportunities that may not be on the market. Want to learn how we do that for our clients? Just ask!