Month-over-Month Changes

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

  • Homes Sold: There was a significant decrease in homes sold, with 23 homes sold in December, down 32% from 34 sales in November.
  • Median Sale Price: The median sale price decreased by 12%, from $1,706,000 in November to $1,501,000 in December.
  • Days on Market (DOM): The DOM for homes increased slightly, rising to 9 days in December from 8 days in November.
  • Percentage of List Price Received: Sellers received an average of 104% of their asking price in December, up from 102% in November.

Analysis

The month-over-month data indicates a cooling in the Pleasanton market, with a notable decrease in the number of homes sold and a reduction in median sale prices. However, the increase in the percentage of list price received suggests that while the market may be slowing, it remains favorable for sellers.

Year-over-Year Comparison

Comparing December 2023 to December 2022, we observe the following trends:

  • Homes Sold: There was a 21% increase in homes sold, from 19 in December 2022 to 23 in December 2023.
  • Median Sale Price: The median sale price saw a slight decrease, from $1.54M in December 2022 to $1.50M in December 2023.
  • Days on Market: A significant reduction in DOM, from 26 days in December 2022 to 9 days in December 2023.
  • Percentage of List Price Received: Sellers received 104% of their asking price in December 2023, an increase from 96% in December 2022.

Analysis

Year-over-year, the Pleasanton market has seen an increase in the number of homes sold and a faster sales cycle, indicating a growing demand. Despite a slight decrease in median sale prices, the increase in the percentage of list price received points to a robust market.

Price Points and Quadrants

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

  • Top Quadrant: 6 homes sold, Median Sale Price: $2,125,000, Median DOM: 8, Avg. $/Sq.Ft.: $738.
  • Second Quadrant: 6 homes sold, Median Sale Price: $1,556,944, Median DOM: 13, Avg. $/Sq.Ft.: $795.
  • Third Quadrant: 6 homes sold, Median Sale Price: $1,317,500, Median DOM: 11, Avg. $/Sq.Ft.: $868.
  • Bottom Quadrant: 5 homes sold, Median Sale Price: $1,175,000, Median DOM: 8, Avg. $/Sq.Ft.: $889.

Analysis

The quadrant data reveals a balanced market across various price points in Pleasanton. The top and second quadrants show significant activity, indicating a healthy demand for higher-priced homes. The relatively quick DOM in these quadrants suggests a competitive market for buyers.

Conclusion

The Pleasanton real estate market in December 2023 demonstrated a decrease in the number of homes sold month-over-month but an increase year-over-year. The market is experiencing a slight adjustment in median sale prices but remains strong, as evidenced by the high percentage of list price received by sellers. The quadrant analysis provides insights into the diverse demand across different price points, with a particularly competitive market for higher-priced homes.

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