Month-over-Month Changes

In March 2024, the Pleasanton real estate market saw significant changes compared to February 2024:

  • Homes Sold: The number of homes sold in Pleasanton increased dramatically from 19 sales in February to 40 sales in March, a rise of 111%.
  • Median Sale Price: There was a notable increase in the median sale price from $1,825,000 in February to $1,949,400 in March, reflecting a 7% growth.
  • Days on Market (DOM): The average days on market remained stable at 8 days, indicating consistent market conditions.
  • Percentage of List Price Received: Sellers received an average of 104% of their asking price, up from 103% in February, showing strong buyer competition.

Analysis

The substantial increase in home sales coupled with the rise in median sale price suggests a burgeoning market in Pleasanton, with homes selling quickly for more than the asking price. The stability in the days on market further indicates a balanced demand and supply.

Year-over-Year Comparison

Comparing March 2024 to March 2023, the Pleasanton market shows:

  • Homes Sold: A 29% increase in sales, up from 31 homes in March 2023.
  • Median Sale Price: An upward trend from $1.86M in March 2023 to $1.95M in March 2024.
  • Days on Market: Remained unchanged at 8 days.
  • Percentage of List Price Received: Improved from 100% in March 2023 to 104% in March 2024.
  • Months of Inventory: Decreased from 1.5 months in March 2023 to 0.8 months in March 2024, suggesting a faster-moving market.

Analysis

Year-over-year data reflects a healthy growth in sales volume and pricing, with a decrease in inventory levels, which underscores a strong seller’s market where properties are moving quickly and for higher prices.

Price Points and Quadrants

The breakdown of sales for March 2024 by price quadrants in Pleasanton is as follows:

  • Top Quadrant: Median Sale Price: $3,439,000; Median DOM: 10; Avg. $/Sq.Ft.: $812.
  • Second Quadrant: Median Sale Price: $2,321,500; Median DOM: 8; Avg. $/Sq.Ft.: $819.
  • Third Quadrant: Median Sale Price: $1,817,500; Median DOM: 10; Avg. $/Sq.Ft.: $892.
  • Bottom Quadrant: Median Sale Price: $1,624,500; Median DOM: 8; Avg. $/Sq.Ft.: $856.

Analysis

The sales data indicates that higher-priced homes (top quadrant) tend to stay on the market slightly longer but command higher prices per square foot. The overall market activity across all quadrants is vibrant, with properties in lower quadrants moving quickly, reflecting strong demand across various price segments.

Conclusion

The Pleasanton real estate market in March 2024 exhibited robust growth and competitiveness. Sellers are achieving higher sale prices, and buyers are actively participating in the market, driving up the percentage of list price received. This dynamic market environment suggests that Pleasanton remains a sought-after area for real estate investment, with opportunities for both buyers and sellers to capitalize on current market conditions.Data provided by MLS Listings and is deemed reliable but not guaranteed.