The median home sale price in Livermore, CA has risen dramatically in the last year and a half, currently sitting at $1,195,000. This is due to the lack of homes on the market and high demand for housing in this area. With builders trying to build more houses, we can expect prices to level down sometime, but there are no signs of it at this moment in time.
The real estate market here has been booming for years now but the shortage of supply caused by the pandemic was the tipping point. Livermore’s population has increased by over 50% in just 4 years while construction permits have doubled during that time span too! All these new residents are putting pressure on the housing market and listing prices have risen accordingly. It’s not unusual to see a home rise $100,000 in value in just one or two years which is why it’s so important to buy a property before it goes up in price.
While Livermore has seen significant growth, prices have been fairly reasonable for a number of years. That has changed after the pandemic. The median sale price was at $850,000 this same time last year and it jumped $200k within a year. Neighboring cites like Dublin, Pleasanton and Castro Valley have seen similar growth in the price jump.
Livermore is a city in Alameda County, California. It is one of the suburbs that surround Oakland and San Francisco. Livermore has a population of about 80,000 and the median age is 35. The average home sale price was $1.2 million last year, up from $498,000 10 years ago! This astounding increase is simply because people are willing to buy. Livermore is a great place to live with a lot of benefits. The best thing about living in Livermore is the low crime rates. Livermore has been ranked #2 safest city to live in America by Forbes magazine. There are also many great schools, parks, and events for families that make this a great place to raise kids!
With the market for homes in Livermore set to become more competitive and with prices continuing to rise, there is a high chance that home prices will continue increasing. If you are having trouble affording your mortgage payments or finding housing, contact one of our experts today! Our team can help you find an affordable dwelling or negotiate on your behalf so you can purchase what you need affordably.