Castlewood Pleasanton Market Update January 2011

The real estate market in the Castlewood neighborhood of Pleasanton slowed down toward the end of 2009. In fact, there were no closed sales after July and there is only one sale currently pending. There are five active listings in the neighborhood, a few of which have been on the market for some time.

The five active listings have been available for an average of 304 days. The home on Castlewood Drive is a short sale and has been listed for almost 2 ½ years. Another, on Castledown Road has been listed for 11 months. The shortest time any of the actively listed homes has been on the market is another short sale on Castledown Road that has been listed for 78 days. The average list price of these five homes is $1,659,190 or $383 per square foot.

Only one sale is pending. The list price on this home on Golf Road is $1,250,000 or $523 per square foot. It has been on the market for 42 days and is not distressed (short sale or REO).

Four sales closed since the end of May, 2010, two in June and two in July. There have been no closed sales in Castlewood since then. These four homes sold for $1,333,238 or $379 per square foot. That is just over 72% of the asking price. These homes sold fairly quickly, on average in 34 days. That shows that the right home at the right price will sell quickly in Castlewood. None of the four closed sales were distressed.

Nestled around the Castlewood Country Club, amongst the trees on Pleasanton Ridge, this highly desirable neighborhood contains a mixture of newer and older single family homes. Castlewood is located very close to excellent schools and with easy access to the 680 freeway and scenic Downtown Pleasanton.