Pleasanton Homes Sold an Average of $30,000 Over List Price in 2023

Single Family Detached Homes in Pleasanton – Sold an Average of $30,000 Over List Price in 2023

One of my favorite things to do in January is to take a look back at the sales market for the prior year.  I keep track of the numbers monthly and then gather the final numbers for that year in January.  As you look at all the months of the year together, you’ll find an interesting story of what truly happened that year.  Pleasanton has its own unique story, which is different than what happened in San Ramon, Dublin or Danville.

While Pleasanton home sales did not exceed the Average Sold Price from 2022, the real estate market remained stable in Pleasanton!  There was only a 4.45% decrease in value from 2022 ($2,057,492) to 2023 ($1,963,725).  However, Pleasanton saw a 5.20% increase in home values in 2023 when compared to the home sales in 2021. 

8 Months in 2023 Homes Sold Over List Price

There was no major drop in home values overall in Pleasanton, like the experts were predicting.  In fact, Pleasanton ended the year with the Average Sold Price selling $30,000 over the Average List Price.  There were only 4 months in 2023 where the Average Sold Price was less than the Average List Price.

Limited inventory of homes for sale was prevalent in Pleasanton.  There were only 394 homes sold during 2023, compared to 533 in 2022 and 860 in 2021.  Pleasanton homes were on the market for an average of 15 days which was 2 days faster than homes in 2022 (average 17 days on market).

How Much Have Home Values Risen in Pleasanton?

What’s interesting for Pleasanton that if you purchased a home in 2013, the Average Sold Price was $1,058,643.  In 2020 the Average Sold Price in Pleasanton was $1,486,833 which was an increase of 40.45% in 7 years.  But in 3 years, Pleasanton homes increased 32.07% from 2020 to 2023.  Pleasanton homes increase an average of 85.49% in value from 2013 to 2023.

One interesting thing to note is that Pleasanton saw less of an increase in value than other cities nearby for the same 11-year span.  San Ramon saw an increase of 109.74%, Dublin saw an increase of 107.828%, and Danville saw an increase of 92.23%.  One factors as to why the values didn’t increase in Pleasanton compared is that San Ramon and Dublin is that those cities didn’t have homes in the million-dollar price range until 2015 & 2016.  Pleasanton was already averaging in the million-dollar price range in 2013.

2024 Outlook in Pleasanton, CA

What do I think will happen in Pleasanton in 2024?  I think Pleasanton will go back to the two-million-dollar price range for Average Home Sales by the end of the year.  There is still a strong demand for Pleasanton houses due to location, schools, amenities and proximity to employment centers.  I believe the market will be strong from January to October and then hit the seasonal slow down in November and December due to the holidays and election year.

What Should Home Buyers or Sellers Do in 2024?

If you are a buyer looking for a home in Pleasanton, it’s time to start looking!  Home values are not decreasing.  You will see a steady increase monthly in homes being Sold over the List Price.  So, it’s idea to get into your Pleasanton home early.  As interest rates are predicted to decrease, the competition will increase for homes.  If you can afford to purchase a home now, you can refinance when rates lower.

If you are considering Seller your Pleasanton home in 2024, it’s time to figure out your market strategy!  When would be the best month to put your home on the market?  Pleasanton saw the highest number of home sales from May to September. 

I’m always keeping track of the numbers in Pleasanton.  Give me a call or send me a message to discuss your home strategy for 2024!

If you are curious about what happened in San Ramon, Dublin or Danville, please click on the city to read my blogs about their homes sales in 2023.