Livermore real estate market update from Steve Eveleth Livermore Ca Real Estate Services. There are 158 homes for sale currently in Livermore. Average days on market is 41. There is 30% more listings with a 75% more days on market than in prime time of Spring this year or anytime during the year previously since the huge shot in the arm of market acceleration that started at the end of 2011. IMO we are in a "cooling off" period. Question is will it be temporary as expected for this time of year or is this a gradual trend toward a anticipated market correction as we transition into a more balanced market?
One thing I have noticed over the years is the "herding" mentality. If no ones buying and word is the market is slowing down, everyone waits to buy to see whats going to happen. However all this does is build up more a a surge of buyers when they do get off the fence and this "surge/purge" effect creates the pulse of the market highs and lows.
There is also however seasonal times of the year historically when supply and demand is effected, which is a time of year we are entering now. IMO I do not expect anything crazy like the crash of 07 or any drastic swings in price drops, not in the more desirable places like Livermore and greater bay anyway. Could we see a 3-5% drop? Sure. Does that mean its spiraling. out of control to a crash? Highly doubt it.
There is 1.5 houses in Livermore to accommodate every two people. Demographics, economic conditions and Location location location always plays a key role in any market. This should keep it stable and balanced.
Weather you look at your Livermore home purchase as an investment or dream of a family home for years to come, Livermore is a darn solid place to buy and a wise investment for the long term IMO> http://www.580homesales.com/