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Your Tri-Valley Market Report

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If you live in the Tri-Valley, you may be aware of the craze the real estate market has been in for over a year. Home sales are at an all-time high, sellers are experiencing multiple offers, often above asking price such as my latest listing at 1629 Prima Drive in Livermore that closed $313,000 over asking price, and homes are selling before they even go on the Multiple Listing Service (MLS). 

Buyers eager to move to a more comfortable lifestyle with more room to grow, as we have been reporting in our blogs over the past year, are bidding with all their might, often being advised their offer was not the one accepted. 

Throughout all of this roller coaster real estate chaos, one fact is certain: the Tri-Valley continues to be a stable place to call home. If you are lucky to live in our area with the beautiful parks and trails, you know this is just a little slice of peace on earth. If you are wanting to buy in the Tri-Valley area, we say, “Welcome, Neighbor!”

Dublin Market Report

This Dublin Market Report details the latest real estate activity for Dublin, CA and is consistent with what The Gamache Team is seeing in our everyday transactions. 

Notice the number of days on the market is zero, compared to our report last month, when the number of days on the market in Alameda was 63. This could very well be an indicator of where the market is headed in the future.

Pleasanton Market Report

The Pleasanton Market Report also shows 0 days on market. Pleasanton continues to bring families to town who like the community feeling, the easy access to shopping, plethora of dining, and trails, parks, and location.

Livermore Market Report

The Gamache Team is seeing a renewed interest in Livermore. Its quaint downtown, parks, wineries, golf courses, and weather draw individuals and families to this ranch city. Our sale at 1629 Prima Drive was a record-hitting sale, and we received many offers for this home that went pending within 10 days. We expect to see more buyers investing in the prime real estate in Livermore.

Thinking of Moving to the Tri-Valley? Debating on Cashing in and Selling Your Tri-Valley Home? Contact The Gamache Team

In this crazy market, it’s important to work with an experienced team of professionals who can guide you to making the best real estate decision. The Gamache Team lives, works, raises our families, and volunteers in the Tri-Valley. We would be honored to be your realtor. Let’s work together! Contact us!

The Pace of Tri-Valley Home Sales Hits Record High With No Sign of a Slowdown

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According to the National Association of Realtors®, September 2020 Home Sales were 10.5% higher than those in August 2019.  U.S. News and World Report states that more homes have already sold in 2020 than in 2019, and we are barely into the third quarter. The momentum in home sales hasn’t been this strong since December 2006 when the Great Recession hit.

Reasons for Explosive Home Sales in the Tri-Valley Area

Two primary factors play into the reasons home sales are exploding. First, we have historically low interest rates. Homebuyers who previously haven’t been able to afford a home can now afford one. As well, those who were once in a target price zone can now afford more of a home. The dollar goes a longer way with rates in the 3’s and previously the 2’s. 

Secondly, there are more homebuyers shopping for a home than there are homes for sale. Millennials and Gen Z buyers are the hottest buyers, aging to the point where homeownership is currently important to them.

Other buyers include families who want a bigger home to accommodate “the new normal.” Popular homes are ones with spare bedrooms, ADU’s, third car garages for a home gym, and space for everyone to work, learn, and co-exist. 

With so many people competing for homes, homes are being snatched up. Many sellers are experiences multiple offers way over asking price, some that are cash only, and others with terms too enticing to pass up, leaving many still without keys to a new home. 

Our July blog spotlighted the trend of many homebuyers to move out of rural areas to be closer to cities that provided restaurants, shopping, dining, and recreational opportunities. The American Dream started to become a reality for homebuyers who were finally able to live to work instead of work to live.

The Gamache Team’s Experience with the 2020 Home Sales Surge in the Tri-Valley

The jump in home sales is consistent with the momentum The Gamache Team has seen over the past several months. While our spring market came to a slight halt, our summer sales experience more than made up for the delayed spring market.

Sellers who trusted The Gamache Team with their home sales in the Tri-Valley, especially Dublin, Livermore, and Pleasanton, were pleased to have their homes in contract within a week on average. It was not uncommon to be able to receive multiple offers, many over asking price and with terms too good to pass up.

We prepared our buyers to battle for the home of their dreams in the Tri-Valley. Knowing that the demand for homes was greater than the supply, the Gamache Team made sure our buyers were fully prepared with loan approvals, solid offers, and competitive terms and attractive pricing.

Considering a Move in the Tri-Valley? Contact The Gamache Team

With years of real estate experience under our belt, The Gamache Team has been helping Tri-Valley buyers and sellers for decades. Now more than ever, the home is more than just a home; it’s a place to work, learn, grow, gather, and play.

Today’s home represents a way of life. With these changing times, residents are realizing their needs may not be met in their current home situations, so they are turning to The Gamache Team to find them a home that better fits their needs.

If you are in the market to buy or sell a home, contact The Gamache Team.

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