Month-over-Month Changes

In April 2024, the Pleasanton real estate market showed significant changes compared to March 2024:

  • Homes Sold: 57 homes were sold in April 2024, marking a 43% increase from 40 sales in March 2024.
  • Median Sale Price: The median sale price rose by 2%, from $1,949,400 in March 2024 to $1,980,000 in April 2024.
  • Days on Market (DOM): The Days on Market remained consistent at 8 days, the same as in March 2024.
  • Percentage of List Price Received: On average, sellers received 105% of their asking price in April 2024, up from 104% in March 2024.

Analysis

The month-over-month data indicates a robust market with increasing activity. The rise in homes sold and the slight increase in median sale price suggest a strong demand for housing in Pleasanton. The consistent DOM shows that homes are selling at a steady pace, and the increase in the percentage of list price received indicates competitive bidding and a strong seller’s market.

Year-over-Year Comparison

Comparing April 2024 to April 2023, we observe the following changes:

  • Homes Sold: Increased by 78%, from 32 homes in April 2023 to 57 homes in April 2024.
  • Homes Listed: Increased from 53 in April 2023 to 74 in April 2024.
  • Median Sale Price: Increased from $1.75M in April 2023 to $1.98M in April 2024.
  • Median Days on Market: Remained the same at 8 days.
  • Percentage of List Price Received: Slight increase from 104% in April 2023 to 105% in April 2024.
  • Months of Inventory: Decreased from 1.3 months in April 2023 to 1.1 months in April 2024.
  • Average Dollar per Sq. Ft.: Increased from $858 in April 2023 to $904 in April 2024.

Analysis

Year-over-year, the Pleasanton market has experienced significant growth. The sharp increase in the number of homes sold and listed indicates a higher market activity. The increase in median sale price and the percentage of list price received suggest that the demand remains strong, driving prices up. The decrease in months of inventory points to a tighter market, making it more favorable for sellers.

Price Points and Quadrants

The sales details for April 2024 are broken down by quartiles as follows:

  • Top Quartile: Homes Sold: 15, Median Sale Price: $3,350,000, Median DOM: 8, Average $/Sq.Ft.: $805
  • Second Quartile: Homes Sold: 14, Median Sale Price: $2,267,500, Median DOM: 8, Average $/Sq.Ft.: $894
  • Third Quartile: Homes Sold: 14, Median Sale Price: $1,805,000, Median DOM: 8, Average $/Sq.Ft.: $980
  • Bottom Quartile: Homes Sold: 14, Median Sale Price: $1,530,000, Median DOM: 8, Average $/Sq.Ft.: $889

Analysis

The data shows that all quartiles are active, with a balanced distribution of sales across different price points. The top quartile shows a higher median sale price and a slightly lower average dollar per square foot compared to the third quartile, indicating that luxury homes are selling at a premium. The consistent median days on market across all quartiles suggest a uniformly strong market where homes, regardless of price, are selling at a steady pace.

Conclusion

The Pleasanton market in April 2024 showed increased activity and strong demand compared to both the previous month and the same month last year. The significant increase in homes sold and listed, along with rising median sale prices, indicates a thriving market. The quadrant data highlights that higher-priced homes are particularly competitive, suggesting robust demand across all segments of the market.

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