Are you curious about the real estate market in Tri-valley area of San Francisco? Some still consider this to be relatively affordable than it’s neighbor Silicon Valley!
Plenty of major companies/businesses like Tesla, Amazon, Ikea are considering or have plans of moving to this area already. One of the biggest outlet mall in San Francisco Bay Area is already expanding. Bart Extension to Livermore appears to be a reality in the near future and Livermore is evaluating plans of upgrading its Downtown areas.
Let’s take a peek at what is going on with residential real estate in Livermore, Pleasanton, Dublin, San Ramon and Danville areas.
I have chosen two criteria, median price and number of homes sold, to study the trend comparing year-to-date (May 2016) to last year January to May 2015.
The data obtained directly from mls shows that the number of homes sold in these areas are down when comparing to homes sold last year. Dublin is taking the lead in sales being down by (20%) and Pleasanton showing the sales to be down by (13%) over the last year.
Median price, on the other hand, is up in all areas when comparing to last years data. Pleasanton has the highest gain (11%) and Dublin the lowest gain among its neighbors at (1%).
So, where do we go from here? We are going through the peak season at this time. Good homes that are priced appropriately are still receiving multiple offers and as my last report suggested, still getting offers way above listing price! The above data suggests that market is slowing down when comparing to recent years even though median price keeps jumping up. With the rise in Interest rates coming soon, we should see a further slowdown in sales and a somewhat significant slow down in home prices!