Month-over-Month Changes

In October 2023, the Pleasanton real estate market experienced some notable shifts compared to September 2023:

  • Homes Sold: There were 26 homes sold, a significant 40% decrease from the 43 sales in the previous month.
  • Median Sale Price: The median sale price remained stable, showing no significant change from the previous month.
  • Days on Market (DOM): The DOM increased to 11 days, up from 7 days in September 2023.
  • Percentage of List Price Received: Sellers received an average of 102% of their asking price, maintaining a strong sellers’ market.

Analysis

The month-over-month data suggests a cooling in the Pleasanton market, with a notable decrease in the number of homes sold. The stable median sale price, combined with an increase in DOM, indicates a slight shift towards a more balanced market. However, the fact that sellers are still receiving above their asking price points to continued strong demand.

Year-over-Year Comparison

Comparing October 2023 to October 2022, the following changes were observed:

  • Homes Sold: Decreased by 32%, from 38 to 26.
  • Median Sale Price: Increased by 8%, from $1.60M in October 2022 to $1.73M in October 2023.
  • Days on Market: Decreased from 19 to 11 days.
  • Percentage of List Price Received: Increased from 98% to 102%.
  • Months of Inventory: Decreased from 1.2 to 1.0.
  • Average Dollar per Square Foot: Increased by 7%, from $770 to $824.

Analysis

Year-over-year, the Pleasanton market has experienced a decrease in the volume of homes sold but an increase in the median sale price and a faster sales cycle. This trend suggests a continued seller’s market, with high demand and limited inventory driving up prices.

Price Points and Quadrants

The sales details for October 2023 were broken down by quadrants:

  • Top Quadrant: 7 homes sold, Median Sale Price: $2,850,000, Median DOM: 7, Avg. $/Sq.Ft.: $833.
  • Second Quadrant: 7 homes sold, Median Sale Price: $1,900,000, Median DOM: 7, Avg. $/Sq.Ft.: $895.
  • Third Quadrant: 6 homes sold, Median Sale Price: $1,689,500, Median DOM: 7, Avg. $/Sq.Ft.: $823.
  • Bottom Quadrant: 6 homes sold, Median Sale Price: $1,345,000, Median DOM: 13, Avg. $/Sq.Ft.: $721.

Analysis

The data indicates that all quadrants are active in the Pleasanton market, with the top and second quadrants showing the most activity. This suggests that higher-priced homes are moving quickly, indicating a robust market for sellers in these price ranges.

Conclusion

The Pleasanton market in October 2023 demonstrated a decrease in homes sold compared to the previous month and year-over-year. However, the increase in median sale price year-over-year and the stable DOM indicate a strong market, particularly for sellers. The quadrant data provides valuable insights for both buyers and sellers, showing that higher-priced homes are particularly competitive.

Data provided by MLSListings and is deemed reliable but not guaranteed.