After four years of double-digit inflation in Bay Area housing, prices are starting to stabilize.
In April, the median sales price for a new or existing home or condominium in the nine-county region was $850,000, up 2.4 percent from the previous month but unchanged from April 2018.
The current median price for a home in Livermore as of June 1 is just under that mark, at $824,888. In Dublin, it’s a little higher at $880,000, while the median list price in Pleasanton is just over $1.2 million.
That Livermore home priced at $824,888 is a three-bedroom, two-bath home on a 4,000 sq.ft. lot in Magnolia Common, off Central Avenue. The home is just under 2,000 sq.ft. and was built in 2014. It features upgraded flooring and counter tops, extra storage in the garage.
The home in Pleasanton closest to that city’s median price is a brand new two-story zero-lot-line house with four bedrooms and three baths, being constructed by Meritage Homes. Located on Stanley Boulevard, this home is expected to be completed in September. Offered at $1,211,350.
Dublin has two homes at its median price point of $880,000: a 1,138-sq.ft. three bedroom, two bath detached home built in 1962 on a 7,416-sq.ft. lot on Kilrush Road in central Dublin; and a four-bedroom, three-bath five-year-old townhouse located on Tralee Village Drive off of Dublin Boulevard.
The lowest-priced homes currently listed are three one-bedroom, one-bath condos in Dublin, priced in the mid-$300,000s; a one-bedroom, one-bath condo near downtown Pleasanton, listed at $409,000; a two-bedroom one-bath condo on Murrieta Boulevard in Livermore offered for $410,000.
The most expensive properties include two vineyard properties off Highway 84. One is a vineyard and winery with 21 acres and a 5,287-sq.ft. home on Kalthoff Common in Livermore, priced at $7.9 million. The second is a 35-acre estate with a 7,000-sq.ft. home on Ruby Hills Boulevard listed for $7.499 million.
The highest-priced home in Dublin is a 5,205-sq.ft. home in Dublin Ranch with views of the golf course, priced at $1.8 million. This home boasts five bedrooms and five-and-a-half baths, a marble foyer and soaring ceilings.
If you are not looking for a home at any of those priced points, you may be wondering: What can I buy in the Valley for the price of a median Bay Area home?
The Multiple Listing Service, used by Realtors to share information about homes on the market, shows 35 homes in the three cities priced between $825,000 and $875,000.
In Livermore, 12 of the 155 homes on the MLS are in this price range: one condominium, one townhouse and 10 detached homes.
The condo is a brand new three-bedroom, three-bath home with a two-car garage on Tranquility Circle in the Sage Community. It is priced at $828,000. At 2,169 sq.ft., this is the largest home offered in this price range in Livermore.
The townhouse, also in Sage, was built in 2016 and is a little smaller at 2,006 sq.ft. It includes four bedrooms and three baths, plus a two-car garage. The upstairs loft has been configured as a fifth bedroom. It is priced at $874,000.
Most of the detached homes in this category are located in established neighborhoods throughout Livermore, but they do include one newer three-story zero-lot line home near Downtown, with four bedrooms and three baths, priced at $825,000, to a two-bedroom, one-bath country home on 12 acres on San Antonio Valley Road, priced at $850,000.
That two-bedroom house is the only country property in this category.
The next largest lot is on Susan Lane near Big Trees Park. It boasts a four-bedroom, two-and-a-half bath two-story home with sideyard access, and is priced at $859,000.
In Dublin, more of the 118 homes on the MLS fall into this price range – 16. Two are condos, four are townhouses and 10 are detached homes.
Sizes range from a 1,246-sq.ft. single-story detached home in Echo Park with three bedrooms and two baths, built in 1964 and priced at $865,000, to a 2,342-sq.ft. three-story, 14-year-old townhouse in Dublin Ranch priced at $874,868. (The smaller home has added living space that is not included in the square footage.)
In fact, that townhouse is the largest home in the three cities in this category.
Seven of the 10 detached homes were built in the 1960s.
One of the condos – a three-story unit built on Cadence Avenue built by Brookfield Homes – is brand new. Priced at $869,880, it has three bedrooms and two-and-a-half baths in 1,691 sq.ft., plus a garage.
In Pleasanton, only five of 138 homes are in this price range, and only one of those is a detached home. The others are a duet and three townhouses.
The detached home, at 1,075 sq.ft., is the smallest unit in this price range in the three cities. It has three bedrooms and two baths and is situated on a 3,700-sq.ft. lot on Trenton Circle, off of Stanley Boulevard, priced at $849,950. The home features a solar energy system that is owned, not leased, so energy costs should be very low.
The duet, a three-bedroom, two-bath unit in Northway Downs, features hardwood floors, an updated kitchen and a back yard. It is priced at $869,000.
The townhouses are all three-bedroom, two-bath units with garages, located in Hyde Park, Pleasant Village and Stoneridge.
If you are thinking about buying or selling a median-priced home – or a home of any price – contact your local Realtor today.
Cher Wollard is a Realtor with Berkshire Hathaway HomeServices Drysdale Properties, Livermore.