Luxury Market Update

The high end home market in the Tri Valley showed continued growth in inventory in August, with sales remaining fairly steady. Here is the latest graph for homes over $1.5 million in the Tri Valley, including Alamo, Blackhawk, Danville, San Ramon, Dublin, Pleasanton, and Livermore. It shows about an 8 month supply of homes on the market given the current sales rate.



Click on the image to enlarge. The light green bar represents the inventory of resale single family homes. The dark green bar represents closed sales. The red line shows pending sales for the month.

There remains strong donward pressure on most homes in this area, with a handful of homes with outstanding ammenities or characteristics (lot size, view, location, etc)seeing strong demand.

In the Luxury catagory (homes over $2.5 million) the market is even softer, with over a 20 month supply of inventory on the market.



This market is somewhat like a middle school dance, where buyers and sellers are lined up at opposite ends of the room, and very few are in the middle actually dancing. Buyers have a lot to chose from right now, and sellers in this market segment have the resources and assets to wait it out. Expect much of the same as we head into the fall.