Month-over-Month Changes

In September 2023, the Pleasanton real estate market displayed the following changes compared to August 2023:

  • Homes Sold: 42 homes were sold, showing no change from the previous month.
  • Median Sale Price: Decreased by 7% from $1,855,000 in August 2023 to $1,718,500 in September 2023.
  • Days on Market (DOM): Dropped to 7 days from 9 days in August 2023.
  • Percentage of List Price Received: Sellers received 102% of their asking price, up from 100% in August 2023.

Analysis

The month-over-month data suggests a mixed market. While the number of homes sold remained stable, the median sale price saw a decrease. The DOM shortened, and sellers received a higher percentage of their asking price, indicating a market that still favors sellers.

Year-over-Year Comparison

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

  • Homes Sold: Decreased by 11%, from 47 to 42.
  • Homes Listed: Decreased by 26%, from 58 to 43.
  • Median Sale Price: Increased from $1.60M to $1.72M, a 5% increase.
  • Median Days on Market: Decreased from 28 to 7, a 75% decrease.
  • Percentage of List Price Received: Increased from 97% to 102%.
  • Months of Inventory: Decreased from 1.5 to 0.8, a 47% decrease.

Analysis

Year-over-year, the market has seen a decrease in the number of homes sold and listed, but an increase in sale prices and a faster sales cycle. This suggests a seller’s market where inventory is tight, but demand is high enough to drive up prices.

Price Points and Quadrants

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

  • Top Quadrant: 11 homes sold, Median Sale Price: $2,750,000, Median DOM: 8, Avg. $/Sq.Ft.: $828.
  • Second Quadrant: 11 homes sold, Median Sale Price: $1,841,000, Median DOM: 7, Avg. $/Sq.Ft.: $851.
  • Third Quadrant: 10 homes sold, Median Sale Price: $1,597,500, Median DOM: 7, Avg. $/Sq.Ft.: $768.
  • Bottom Quadrant: 10 homes sold, Median Sale Price: $1,331,000, Median DOM: 8, Avg. $/Sq.Ft.: $895.

Analysis

The data shows that all quadrants are active, but the top and second quadrants are seeing the most activity. This suggests that higher-priced homes are moving quickly, indicating a strong market for sellers in these price ranges.

Conclusion

The Pleasanton market in September 2023 showed a stable number of homes sold compared to the previous month but a decrease in homes listed year-over-year. The increase in median sale price year-over-year and the shortened 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.