Back in November/December 2019, we predicted and it was an overall consensus that we would have an inventory issue with housing in 2020. Throw in the pandemic and it has now become even worse. Inventory numbers across the Tri-Valley are indicative of what you would see in a normal market for December/January. Definitely not the numbers we are used to seeing in the usually robust spring and summer months.
I have been part of multiple offer sales with 18, 14, and 8 offers and have heard of 22 offers for a home in Livermore. That home went 100,000+ over asking, 7 day close, and all cash. I am also seeing an uptick in all-cash offers as they had subsided for a time.
To say this is a HOT Sellers’ market might be an understatement. Here are some inventory numbers for the Tri-Valley as of 7/28/2020;
(D) detached home (CS) Coming soon listing (AC) Active contingent- meaning it has an offer already
- Danville – D=83 / CS= 9 / AC= 1 – * Warm market but steady
- Dublin – D= 34 / CS=6 – *HOT market only 34 detached home. Multiple offers
- Livermore – D= 50 / CS= 9 / AC = 6 – * HOT market multiple offers on many homes
- Pleasanton – D=54 / CS=6 / AC = 1 – *HOT market
- San Ramon – D= 40 / CS=12 / AC = 2 – *HOT market
This is a very HOT Sellers’ market, so if you or someone you know is thinking about selling now is a great time. Feel free to call, text, or email me to discuss. We hope this finds you happy, healthy, and safe.
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