Livermore Real Estate: What this changing market means for you?

The market is shifting but let’s look at this week’s data to understand what is really going on…

Currently we have 167 total active listings, 140 detached single family homes to be exact. Our inventory is up by 18% but we have just over a month’s supply which is still considered low. In fact, if you look at our inventory over the last several years we are back to pre-pandemic levels…2017 was a healthy (yet more normal for us) sellers market.

With more inventory and less buyers we are experiencing a slowing (or normalizing). On average, homes sold in the last 3 months were only on the market for 8 days… but days on market for currently active homes IS growing. Additionally, home prices are softening a bit but they are still selling at 105% of their list price.

What does all this mean?

Well, if you’re a seller…staging and strategic marketing are key if you want to stand out vs. sit on the market. If you’re a buyer, you have more homes to choose from and more negotiating power.

If you have questions about buying or selling, we’d love to chat with you. Visit LoveLivermore.com/consult