Month-over-Month Changes

In November 2023, the Pleasanton real estate market experienced several notable changes compared to October 2023:

  • Homes Sold: There was a 23% increase in homes sold, with 32 homes sold in November compared to 26 in October.
  • Median Sale Price: The median sale price saw a slight decrease of 2%, from $1,730,000 in October to $1,692,500 in November.
  • Days on Market (DOM): The DOM decreased, dropping to 8 days in November from 11 days in October.
  • Percentage of List Price Received: Sellers received an average of 102% of their asking price, maintaining a strong seller’s advantage.

Analysis

The Pleasanton market in November shows a robust increase in sales volume, indicating a growing demand. The slight decrease in median sale price and DOM suggests a more balanced market, yet sellers continue to receive more than their asking price, highlighting a persistent seller’s market.

Year-over-Year Comparison

Comparing November 2023 to November 2022, the Pleasanton market shows the following trends:

  • Homes Sold: A decrease of 6%, from 34 homes sold in November 2022 to 32 in November 2023.
  • Median Sale Price: Increased slightly from $1.64M in November 2022 to $1.69M in November 2023.
  • Days on Market: A significant decrease in DOM, from 30 days in November 2022 to 8 days in November 2023.
  • Percentage of List Price Received: Increased from 95% in November 2022 to 102% in November 2023.

Analysis

Year-over-year data indicates a tightening market with fewer homes sold but at higher prices and much quicker sales. The substantial decrease in DOM and increase in the percentage of list price received underscore a strong seller’s market.

Price Points and Quadrants

The sales data for November 2023, broken down by quadrants, shows:

  • Top Quadrant: Median Sale Price: $2,727,625; Median DOM: 7; Avg. $/Sq.Ft.: $789.
  • Second Quadrant: Median Sale Price: $1,780,000; Median DOM: 7; Avg. $/Sq.Ft.: $763.
  • Third Quadrant: Median Sale Price: $1,535,000; Median DOM: 9; Avg. $/Sq.Ft.: $839.
  • Bottom Quadrant: Median Sale Price: $1,197,500; Median DOM: 9; Avg. $/Sq.Ft.: $808.

Analysis

The quadrant data reveals a diverse market, with the top and second quadrants showing higher sale prices and lower DOM. This suggests that higher-priced homes are in demand and selling quickly, indicating a strong market for sellers in these price ranges.

Conclusion

The Pleasanton real estate market in November 2023 demonstrated a dynamic landscape. The increase in sales volume month-over-month and the year-over-year rise in median sale prices, combined with a significant decrease in DOM, point to a robust seller’s market. The quadrant analysis provides valuable insights, showing that while all segments are active, the higher-priced homes are particularly competitive.

Data provided by MLS Listings and is deemed reliable but not guaranteed.