Active – As of June 1, 2015 there were 22 active properties in Ruby Hill ranging from $1,335,000- $5,948,000.

Pending – 8 Properties ranging from $1,440,000-$2,850,000

Sold/Closed May 1- May 31, 2015 – 3 properties ranging from $2,099,000-$2,599,000

Pleasanton 94566 Overview  

The median sales price for homes in ZIP code 94566 in Pleasanton from Feb 15 to May 15 was $975,000 based on 97 sales. Compared to the same period one year ago, the median sales price increased 10.5%, or $92,250, and the number of sales decreased 28.7%. Average price per square foot for homes in 94566 was $463, an increase of 4.8% compared to the same period last year. The average listing price for homes for sale in 94566 was $1,692,441 for the week ending May 27, which represents a decrease of 4%, or $71,266, compared to the prior week.

Luxury Home Prices Exhibit Little Growth in Q1

Los Angeles, Miami Beach and San Francisco Lead the Top 20 Areas for Most Expensive Properties

In San Francisco Luxury Prices Are Just 4 times above the Rest of the Market

Sales of million-dollar-plus homes surged in the first three months of the year, holding their ground against a slumping economy.  But the luxury market, which Redfin defines as the priciest 5 percent of properties, didn’t see a corresponding jump in values. Luxury home prices grew at their slowest pace in three years, rising less than 1 percent from the same period a year ago. For the bottom 95 percent of homes, values advanced at a steady 4.3 percent.

Posh properties took longer to sell, too. The average luxury home sat on the market 96 days, up from 92 in the first quarter of 2014. For the rest of the market, houses took an average of 72 days to sell, the same as last year. While it’s normal for high-end homes to go unsold longer due to their weighty price tags, demand for those properties is slowing as price-conscious and first-time buyers make up a greater share of house hunters.

Housing Affordability Is Up As National Homeownership Month Begins

Housing affordability is up nationwide due to low interest rates and home prices as National Homeownership Month begins in June, according to a recent release from the National Association of Home Builders (NAHB).

The latest NAHB/Wells Fargo Housing Opportunity Index released in mid-May reports that about two-thirds of new and existing homes sold in the first quarter of 2015 were affordable to families that earned $65,800, which is the U.S. median yearly income, according to NAHB. Meanwhile, the median home price nationwide dropped by $5,000 from the fourth quarter of last year to the first quarter of 2015 (from $215,000 down to $210,000) while interest rates dropped from 4.29 percent down to 4.03 percent during the same time frame.

In addition to lower prices and interest rates, low-down payment programs offered by Fannie Mae and Freddie Mac can help creditworthy borrowers who cannot afford a large downpayment qualify for a mortgage. These programs offer downpayments as low as 3 percent for eligible first-time homebuyers.

“Now is a great time for consumers to buy homes,” said NAHB Chairman Tom Woods, a home builder from Blue Springs, Missouri. “Both first-time and move-up buyers can take advantage of these favorable market conditions and start building their American Dream.”

Homeownership carries with it financial benefits, according to the NAHB, since it is often a primary source of net worth and a step toward accumulating long-term personal financial assets. Homeowners can also deduct mortgage interest and property taxes paid from their taxable income, which can result in thousands of dollars in savings, particularly in the first few years of a mortgage when the largest percentage of the monthly mortgage payment is made up of interest.

Benefits of homeownership are not just financial, however, according to Woods.

“Homeownership builds stronger communities, provides a solid foundation for family and personal achievement and improves the quality of life for millions of people,” Woods said.

This information has been compiled from the CAR website, Redfin, MLS Data,Trulia, Zillow, Bay East Association of Realtors ,Helpusellachievers.com and Realtor.com. 

Meena Gujral – BRE#00950378

Ruby Hill Resident and Home Owner

925-425-9491