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Spring Real Estate: Eager homebuyers heat up Pleasanton market

by capitalizefinancial
April 30, 2021
in Real Estate
0
Spring Real Estate: Eager homebuyers heat up Pleasanton market

Homes in Pleasanton are selling for significantly more than their list price and in record time.

Is this sustainable? One local real estate expert says yes.

“Every time I think there’s going to be a little bit of a break, you hear more stories of crazy multiple offers,” said Pleasanton Realtor Jennifer Branchini, the 2021 treasurer for the California Association of Realtors. “Unless we get a ton of inventory, the fierce competition is going to persist for a while longer.”

The median sales price for a single-family detached home in Pleasanton has exceeded $1 million each month since 2016. During March 2021, the median price was $1.53 million.

Homes sold, on average, for more than 10% of their asking price. And during the first quarter of 2021, a home was on the market in Pleasanton for an average of 13 days, compared to 27 days during the first quarter of 2020.

Home sales in Pleasanton increased 60% compared with last March 2020.

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