Yesterday I did a Market Report on Home Sales in Pleasanton, CA. The Alameda and Contra Costa Counties some of the most upscale communities in the country. Pleasanton California is one of those upscale communities with many homes priced over $1,000,000.00. Today I have some charts comparing home sales above and below $1,000,000.00. These figures were pulled from the MLS on May 1, 2009.
Right now in Pleasanton there are 121 homes on the market above $1,000,000.00, but on 119 homes below $1,000,000.00. This is a very good ratio of high end homes. This will help all homes to hold their value.
Obviously there are a lot more home sales under $1,000,000.00. When looking at these charts be aware that the small number of sales, both above and below $1,000,000.00, can vary dramatically due to a single anomalies home sale.
These charts compare the Average and Median Sales prices. As might be expected there is a great deal more variance in the higher end homes from month to month.
The Higher priced homes do stay on the market longer. If you compare the number of homes for sale in each category to the number of sales this is obvious.
My favorite number to look at is price per SF. I was acutally surprised that the numbers for the higher end homes was not significantly higher.
For Sellers of a home under $1,000,000.00 the positive in this report is that the higher end homes will tend to keep your price up. Also the supply of homes is only about 8 months, whereas homes over $1,000,000.00 are looking at an 11 month supply. For people looking for a high end home this is a Buyers Market. However, the low number of Bank Owned Homes for sale and Short Sales indicates a healthy market compared to other areas.
If you are interested in Buying a Home or Selling a Home in Pleasanton or anywhere in Alameda or Contra Costa Counties or just East Contra Costa County, Brentwood, Antioch, Oakley, Discovery Bay, Pittsburg, Bay Point and others please contact me. I specialize in helping buyers of Bank Owned Homes. For regular updates please subscribe to this blog.
Subscribe to Gene Riemenschneider's East Contra Costa Home Blog by Email
