Pleasant Hill Home Demand and Price Reflection

The median list price in PLEASANT HILL, CA this week is $544,000. The 26 properties have been on the market for an average of 74 days. This low inventory here in Pleasant Hill is sufficient to keep us in a Seller’s Market. This entails that average listing prices for homes remain at or above market value, as reflected in the Market Action Index or MAI. The Market Action Index or MAI answers the question “How’s the Market?” by measuring the current rate of sale versus the amount of the inventory.

 

Real Estate Market Chart by Altos Research www.altosresearch.com

 

Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Time will tell, however, if the market heats up prices are likely to resume an upward climb.

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