Month-over-Month Changes

In August 2023, Pleasanton’s real estate market underwent several changes compared to July 2023:

  • Homes Sold: 40 homes were sold, marking an 11% decrease from 45 sales the previous month.
  • Median Sale Price: There was a 1% decrease in the median sale price, from $1,850,000 in July to $1,830,000 in August.
  • Days on Market (DOM): The DOM increased to 9 days from 7 days in July.
  • Percentage of List Price Received: Sellers received 101% of their asking price, down from 105% in July.

Analysis

The month-over-month data indicates a slight cooling in the market. The decrease in homes sold and the lower percentage of list price received suggest a market that is becoming more balanced. However, the DOM remains low, indicating that homes are still selling relatively quickly.

Year-over-Year Comparison

Comparing August 2023 to August 2022, the following changes were noted:

  • Homes Sold: Decreased by 30%, from 57 to 40.
  • Homes Listed: Decreased by 2%, from 53 to 52.
  • Median Sale Price: Increased from $1.58M to $1.83M.
  • Median Days on Market: Decreased from 22 to 9.
  • Average Dollar per Sq. Ft.: Increased from $797 to $856.
  • Percentage of List Price Received: Increased from 98% to 101%.
  • Months of Inventory: Decreased from 1.3 to 0.7.

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 August 2023 were broken down by quadrants:

  • Top Quadrant: 10 homes sold, Median Sale Price: $3,018,000, Median DOM: 10, Avg. $/Sq.Ft.: $790.
  • Second Quadrant: 10 homes sold, Median Sale Price: $1,918,500, Median DOM: 8, Avg. $/Sq.Ft.: $885.
  • Third Quadrant: 10 homes sold, Median Sale Price: $1,625,000, Median DOM: 8, Avg. $/Sq.Ft.: $822.
  • Bottom Quadrant: 10 homes sold, Median Sale Price: $1,242,500, Median DOM: 10, Avg. $/Sq.Ft.: $875.

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 August 2023 showed a decrease in 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 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.