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The question right now is does May represent a turning point for the real estate market in Pleasanton or is it just a pause as the market heads into summer? The market was a bit fragmented depending on the price range. Inventory was down in May from April, while pending sales were basically flat. The market for homes priced under $1 million cooled somewhat while it heated up in the $1 million to $2 million segment. With the end of the federal tax credit for home buyers, it’s possible that sales could slow in the coming months, even though demand has been high so far this year.
Overall, the inventory of single family homes fell from 166 in April to 156 in May, a 6% decline. Pending sales, meanwhile, increased by only 2 homes in May to 86, after climbing 15 units from February to March and another 23 units from March to April. 86 pending sales was still a high number for Pleasanton. The 156 available homes at the end of May represented approximately 1.8 months of inventory relative to pending sales, compared to 2.0 months at the end of April..
All Pleasanton Single Family Homes
Inventory Vs Pending Sales May 2010
In the under $1 million market segment, inventory increased while pending sales decreased, cooling this segment off a little. Inventory climbed six units from 78 single family homes in April to 84 in May, the highest number since July of last year. Pending sales fell 10 homes, to 57 in May, an 18% decline. There was 1.5 months of inventory in this price range at the end of May relative to pending sales, up from 1.2 months in April. Homes in this price range accounted for 54% of the inventory and 66% of pending sales at the end of May.
Pleasanton Single Family Homes Under $1 Million The market for homes priced between $1 million and $2 million tightened up in May, as inventory shrank and pending sales jumped. Inventory fell 14 units or 22%, from 63 in April to 49 at the end of May. Pending sales jumped nine units from 16 at the end of April to 25 at the end of May, a 56% increase. That is the biggest increase in pending sales in a single month since early 2008. The available inventory represented two months of pending sales, about half of April’s level. 31% of Pleasanton’s inventory and 29% of pending sales were in this segment. Pleasanton Single Family Homes $1 Million - $2 Million It was a bit quieter in the market for homes priced over $2 million. Inventory stood at 23 homes at the end of May, down two from 25 in April. Pending sales increased to four homes at the end of May, from one in April. There was approximately six months of inventory in this segment at the end of May. This is the smallest market segment in Pleasanton, accounting for 15% of inventory at the end of May and only 5% of pending sales. Pleasanton Single Family Homes Over $2 Million The different market segments in Pleasanton reacted differently in May. There has been demand for housing in Pleasanton to this point this year. Will that demand slacken due to the ending of the federal tax credit and to potentially rising interest rates or will May simple be a short pause as the market collects itself before heading higher?
Inventory Vs Pending Sales May 2010
Inventory Vs Pending Sales May 2010
Inventory Vs Pending Sales May 2010 
Pleasanton Market Update May 2010 – $1 million plus market heating up