The real estate inventory is at year round lows! There are 189 homes for sale in Pleasanton, 257 homes for sale in Livermore, and 185 homes for sale in Dublin CA. This is typical for this time of year although these numbers are similar to inventory numbers in 2003 – 2006. So what does this mean? These numbers technically mean we are in a seller’s market. A seller’s market is when there is 3-6 months of housing inventory. This is not entirely the case in today’s market though. The sellers are not in complete control, and buyers are very patient. It seems buyer have established confidence in the real estate market, yet are prepared to wait for the perfect deal. Interest rates are definitely helping as rates are about as low as possible. Seller’s on the other hand think their homes are worth more than they actually are and often over price them. Today’s buyers are researching comparable sales more than ever, and rarely over pay for homes. Although with not many options to chose from buyers may have to settle with what is available now. Typically more homes will come on the market in the beginning of the year. Each of the cities can use the inventory to have a well balanced market.
by Dan Gamache
