This week marks the unofficial end of the residential real estate season in our area, which runs from early February through late May. That doesn’t mean no one buys or sells homes any other time of year, but the market tends to be noticeably slower.
When folks return to work from the long Memorial Day weekend, their focus is more likely to be on weddings, graduations and other end-of-school year events, and vacations, rather than house-hunting.
That makes June, July and August a great time to buy for buyers who are not so distracted. If you might be in the category, a little data about the market might be in order.
At the height of the 2018 market thus far – April 1-30 – Alameda County saw 691 single-family detached homes come on the market, and 827 transactions close, according to Trendgraphix, which provides real estate market data.
In Livermore during that same one-month period, 71 detached houses were offered for sale through the Multiple Listing Service; 106 homes went into contract and 101 transactions closed.
The last time more Livermore houses came on the market than off was a year ago, in April 2017. In general, this has been a very hectic seller’s market.
The Livermore single-family detached houses that sold last month ranged in price from $550,000 to $3.95 million, with the median price being $831,000 and the average $952,371.
Properties were on the market an average of 12 days before going into contract. The median days on market was 8, with 61 being the longest time on market for any home that sold last month. Two sold without going on the market at all.
On average, the sales price was 103 percent of the asking price, with the range for all sales being 95 percent to 112 percent of the asking price.
Of those 71 houses, most – 60 – were purchased by buyers using conventional loans. Another three were financed through FHA, VA or some other type of financing, such as personal loans. Despite the hype about cash buyers, only 8 transactions were all-cash.
So that was April. What’s going on now?
As of the beginning of this week, Livermore had 78 detached homes on the MLS, ranging in price from $629,000 to $7.9 million.
The average list price was $1,362,702, while the median price was $994,212. (The broad spread between average and median prices is mostly because a handful of properties with acreage priced above $2 million skew the results.)
Houses currently available for sale in Livermore vary greatly in size – between 1,026 sq.ft. and 5,287 sq.ft. with lots ranging from 2,207 sq.ft. to 100 acres – and in age, from brand new construction to a pair of farmhouses each over 100 years old.
The asking prices for these homes range from $629,000 to $7.9 million, with the median price being $994,212 and the average price $1,362,702. (This list only covers single-family detached homes. If we also looked at condos, townhouses and mobile homes, the lowest price as well as the median and average prices would be lower.)
Right at that median point are two very different homes, giving a hint of the variety of housing available in Livermore:
First is 811 Barney Common, a brand new 2-story home offered by the builder for $993,424. This 4-bedroom, 3.5 bath home by Signature Homes is 2,616 sq.ft. on a tiny 2,970 sq.ft. lot --- ideal for dual-income households who don’t want, or need, a big yard. The house has many upgrades and the builder is willing to help with closing costs. The development, which includes other similar houses, is located off Vasco Road close to the ACE train station.
Another home of about the same size– 2660 sq.ft. – with 4 bedrooms and 3 baths in two stories, but built in 1987, is located at 1806 Bluebell Drive. This unique home sits on a quarter-acre lot that accommodates space for entertaining, a garden area, a play area and additional parking for boat, RV or extra cars. It is located north of Interstate 580, near Scenic Drive.
Just above the median price point is 1137 Tokay Common, a distinctive single story on a 10,417 sq.ft. lot in a small enclave of custom homes near downtown Livermore. Built in 1985, this 2127 sq.ft. home with 3 bedrooms and 2.5 baths has wood-beam ceilings with skylights. Solar power keeps energy bills low.
Just under the median price is 1232 Asti Court on one-third acre at the top of a quiet cul-de-sac in Sunset East. This 4-bedroom 2.5 bath home is in the popular Silvertip model, and has upgraded flooring, remodeled bathrooms and skylights. The huge back yard includes an in-ground pool and spa, mature landscaping, sideyard access – even a mini-vineyard. Its location gives it views front and back. The property is priced at $975,000.
Also in the $900,000s, are four homes in four separate established neighborhoods: 1802 Meadow Glen Drive in the Meadows, 1137 Dana Circle in Windmill Springs, 1630 Frankfurt Way in Sunset East and 10 Alysia Court in Autumn Valley. These houses range in size from 1879 to 2299 sq.ft. on lots from 6877 to 9091 sq.ft., and are priced at $929,950 to $950,000.
Among new home builders, Signature’s Centra development off of north Vasco includes two models priced in the mid-900,000s.
The largest townhomes in Sage by Shea Homes, off Isabel Avenue near I-580, are also priced in the 900,000s. The location is planned to be convenient to future BART expansion.
If you are thinking about purchasing a new or resale home in Livermore – at any price point -- contact your local Realtor today.
Cher Wollard is a Realtor with Berkshire Hathaway HomeServices Drysdale Properties in Livermore.