Sales of single family detached homes actually declined in Pleasanton in June for the first time since February. While the overall sales level remained strong, it is unusual for sales to decline in June. I suspect that low inventory is at least partially to blame. The median sales price rose during June and homes were on the market a shorter period of time.
67 sales closed during June, down about 8% from May’s 73. June’s sales were higher than they were in June 2011 (56) but lower than 2010 (74).
The median sales price rose again in June to $785,000, continuing a trend began in November 2011 when the median sales price was $645,000. June’s median sales price was nearly 6% higher than May’s $742,000. The median sales price in June 2011 was $757,500. The median price per square foot also rose in June to $357 from $339 in May, a 5% increase. After increasing for four consecutive months, the number of homes sold for over $1 million declined slightly in June from 20 in May to 18. That’s still about 27% of all June sales, the same as in May. The average sales price as a percentage of the lsit price fell in June to about 97.7% from 98.5% in May.
Sales that closed in June were on the market fewer days (34) than those that closed in may (48). Nine of June’s sales were distressed (short sale or REO), the same number as in May. The median age increased from 27 days in May to 29 in June.
Here is a list of all closed home sales in Pleasanton in June