The median sold price for Detached Homes in Livermore shows some volatility. But it is much more a condition of what’s available for sale, than home price fluctuations. Compared to the same time last year, we’re within 1%. But you can see the swings from Jan-Feb, then Mar-Apr which paint rather an unusual picture. On inspection of the detail, the difference between April of last year to this is just $4250 – not much of a swing at all. Continue to more market reports.
If you’re out home shopping, please don’t get the idea that you have a lot of time between seeing a home and making an offer, if of course you’ve found a house you really like. This is an average. Homes that are in good condition and priced well are going pending within just days, often with multiple offers and over list price. I expect that when May’s numbers are in we’ll see this average fall yet again.
This truly shows how the market has turned. Last fall and winter we had less than a normal supply of homes on the market, but buyers weren’t out in force. Now however, they’re feeling the tides turn, the interest rates have dipped yet again, and the time is ripe. Most agents have clients ready and willing to buy, but waiting for additional inventory to allow them to be able.
Supply down, demand up. There in a nutshell is the evidence that the tides have changed. We are now in a seller’s market. Of course we haven’t returned to sky high pricing as we experience in 2005, but you’ll certainly hear tales of buyers who are in bidding wars, and missing out.