Inventory was at its highest level since June 2009, and for the fifth month in a row, reports revealed a constant increase. Pending sales of single family detached homes, projecting the second biggest sale of the year, showed unwavering strength. Seventy percent of Pleasanton's inventory in July, which consisted of homes priced below $1 million, was what accounted for the increase in both inventory and pending sales.
In general, there was an increase of four units (1.8 %) of single family detached homes on the market, towards the end of the month in July with 224, as compared to that of June's with 220. There was an eight percent, or five units increase in unsettled sales from 62 in June to 67 in July. Relative to pending sales, which increased in July, inventory decreased despite the rising of absolute inventory levels in the same month. At the end of the month, 3.3 months of it were available, as compared to 3.5 months in June.
An inventory increase of six percent in the homes priced under $1 million, with 157 homes in July from 148 in June was posted. Sales that were pending increased at 11% rate to 52 in July from 47 in June. Inventory compared to unsettled sales in this price range was at 3.0 months in July, which barely changed from being at 3.1 in June. This price range was accountable for both of 70% inventory and 78% of sales pending of Pleasanton Market's in July.
For homes within the 1 million and $2 million price range, a dipping of the inventory was monitored. At the end of July, there were 47 of those homes available on the market as compared to having 52 at the end of June. It was a matter of 10% decrease, or 5 units. Sales that were pending slightly increased to 15 units in July from 14 in June. Inventory relative to pending sales was down at 3.1 months in July from 3.7 in June. This segment was what comprised 21% inventory and 22% sales in pending in the month of July.
Not much volatility of the market was accounted in homes that cost more than $2 million. Twenty units of these homes were available in the market at the end of July, which was the same for the month of June. In terms of sales pending, there was none for the month while there was one in June.
Inventory carried on with its upward movement but sales increased more, thus lowering the relative inventory level in Pleasanton. With the number of sales in pending at the current level, the market is generally in good shape.
Doug Buenz is a top producing Pleasanton Realtor with Alain Pinel Realtors. With over 20 years experience in Pleasanton real estate, Doug has built a solid reputation as a market leader. His web site http://www.680homes.com is a popular site for searching for Pleasanton homes for sale, as well as extensive information on the community, Pleasanton Schools, and the East Bay lifestyle. His personal blog The 680 Blog is a widely read source on Pleasanton market trends, real estate tips and advice, market insights, lifestyle information, and commentary.
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