Stoneridge Park/Place/Square Pleasanton Market Update Sep 2010

The Stoneridge Park/Place/Square neighborhood of Pleasanton remained active over the past six months but has cooled off since June. There were nine closed sales during the past six months but none since mid-June. It appears that the end of the federal tax credit for home buyers has put a damper on activity in this neighborhood. Five sales closed during the previous six month period.

There are six active listings at this time. The average asking price is $645,158 or $375 per square foot. That price per square foot excludes the Trevor Parkway property for which the square footage was not available and is significantly higher than we see for the pending and closed sales in the neighborhood. These homes have been listed for an average of 58 days. The property on Wheatman Court is a short sale.

Four pending sales have an average asking price of $663,975 or $323 per square foot. They have been listed for 39 days, on average. The homes on Lotus Court and Gach Court are short sales.

The nine closed sales were sold for an average price of $684,556 or $349 per square foot, which was mover than 99% of the asking price. They were on the market for 80 days, on average. However, if you exclude 3641 Huff Court, which was listed for 559 days, the average drops to 20 days for the remaining properties. 2919 Chocolate Street was an REO, while 2747 Curry Street and 3605 Huff Court were short sales.

Stoneridge Park, Stoneridge Place, and Stoneridge Square are planned neighborhoods at the end of Stoneridge Dr. in east Pleasanton. Stoneridge Park features single family detached homes ranging from 1,500 to almost 3,000 square feet. There are also a handful of larger semi-custom homes on 12,000 to 16,000 square foot lots with three car garages. Stoneridge Place is a patio home development, typically with four homes sharing a cobblestone driveway. Stoneridge Square features smaller lot detached homes. There is a community pool and spa, and Mohr Elementary School and Mohr Park are adjacent to the property.