Sevillano & Ponderosa Legacy Livermore Market Update Dec 09

Homes in Sevillano and Ponderosa Legacy in Livermore are staying on the market a bit longer and selling further below the asking price than we have been seeing in other neighborhoods in the Tri-Valley. There were five closed and one pending sale in the past six months, compared to five closed sales in the prior six month period. There is only one active listing, which is about one month’s inventory.

The one active listing on Saratoga Ct in Ponderosa Legacy is priced at $1,475,900, which is $330 per square feet. It has been on the market for 209 days and is not distressed (REO or short sale).

The pending sale on Sevillano Ct in Sevillano was listed at $1,125,000 or $304 per square foot and has been listed for 120 days. It, too, is not distressed.

The closed sales sold for an average price of $1,035,500 or $234 per square foot, which was 87% of the asking price. That is well below the 95% - 100% that we are seeing in most neighborhoods in the Tri-Valley. Most of the closed sales were in Ponderosa Legacy. The closed sales were listed for an average of 111 days, with only two selling in less than 100 days. The Danielle Ct. home is a short sale.

Both Sevillano and ponderosa legacy are luxury home developments set in the vineyards of south Livermore.