The Preserve Pleasanton Market Update August 2011

The Preserve neighborhood in Pleasanton broke out of an eight month slumber with a closed sale in March. The last sale prior to that was in August of 2010. One additional sale is pending and there are no active listings.

The sole pending sale is on Kolb Ranch Drive and has been on the market for 31 days. It is listed for $1,500,000 or $328 per square foot. It is not distressed (short sale or REO).

The only closed sale this year was on Crosby Drive and it sold for $1,670,750 or $321 per square foot. That price was only 92% of the asking price, below what we typically see in the Tri-Valley (95% - 100%). The property was on the market for 294 days. The table below lists all sales going back to the beginning of 2010 and the average statistics for all four properties combined. None of these properties were distressed.

The Preserve in Pleasanton is a neighborhood that remains very much in demand, with large semi-custom homes, many designer amenities, guest homes on some lots, and surrounded by over 100 acres of open space. Its commute friendly location and serene setting with rolling, wooded hills makes it a favorite with home buyers in the luxury price range.