Pleasanton Hills Market Update October 2010

The real estate market in the Pleasanton Hills neighborhood of Pleasanton had a significant increase in activity over the past six months. There were five closed sales since April, compared to five in the 20 months prior to May of this year. None of the homes in Pleasanton Hills is distressed (short sale or REO).

One home, on Dolores Place, is actively listed in the neighborhood. It is listed for $1,129,000 or $368 per square foot. It has only been on the market for six days.

There is only one pending sale, located on Monaco Drive. It has been listed for 131 days at a price of $975,000 or $317 per square foot,

The five sales that closed during the past six months sold for an average price of $1,067,200 or $327 per square foot. The average sales price was 99% of the average asking price. Excluding 4897 Dolores Drive, which was on the market for 303 days, the sold homes were listed for an average of 13 days. Three of the sales closed during May and June, which may have been due to the federal tax credit then available to home buyers. We’ll have to see if the recent activity level in Pleasanton Hills holds up now that the tax credit is no longer available.

Built in the mid-1980s, these Victorian inspired homes are located close to downtown Pleasanton near the intersection of Bernal Ave and First St. Several of the homes in this desirable neighborhood have fabulous views of the Pleasanton Ridge and downtown.