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Closed sales in Pleasanton fell off significantly in July as the loss of the federal tax credit to home buyers weighed on the market, especially in the lower end. There were 43 closed sales of single family homes during the month, compared to 74 in June. The median sales price for Pleasanton was $899,899 in July, up from $822,500 in June. The increase in the median price was driven primarily by an increase in sales of higher end homes. 44% of the homes sold during July were priced over $1 million, compared to 30% in June and 19% in May. The median price per square foot was largely unchanged at $356 from $354 in June and $351 in May. It was the lower price ranges that saw the sharpest drop in closed sales, but we could certainly see a rebound in August.
The sales that closed during July were on the market for an average of 30 days, down from 38 for June’s closed sales. On average, homes sold for 98.1% of the asking price, compared to 98.3% in June. 12% of the closed sales were distressed sales, either short sales or bank owned properties, down from 19% in June and 28% in May.
The neighborhoods of Ruby Hill, California Place, Moller Ranch, and Bonde Ranch all saw strong activity in July.
Here is a list of all closed home sales in Pleasanton in July:
Pleasanton Home Sales July 2010