Livermore housing market update:
There are currently 84 homes total on the market per active MLS. In the past 60 days we have 91 pendings and 36 closed. Assuming most of the 91 pendings will close lets say for round numbers sake about 50 sales per month. With 84 total homes on the market we are looking at about a 6-7 week supply. Also of the 84 homes are the market, about 25% are slow movers that have been on MLS for some time for one reason or another. So what we're actually working with is probably about 50 of the 84 that are in "active" phases of actually being sold which narrows out 6-7 week inventory down to about 30 days worth of actual moving inventory. Thats not much....not much at all!
We are staging up for another nice year of solid gains as long as rates stay put and job growth and economic factors stay strong and positive.
So what does this mean to you as a buyer or seller? Sellers you can expect your home to sell quickly if its priced right and often times for maybe a little more than you expect.
Buyers: take advantage of a mortgage you can afford with a low locked in 30 yr fixed rate. No one likes to buy at the top of the market. Buyers love to buy and a year later have some equity. If your buying in the very near future the chances are very high you'll look back and be glad you did!
(disclaimer: this post is just my personal opinion for information only and in no way should influence you to buy or sell with my services)