Pleasanton Real Estate Market Update - Microsoft · •4.3% growth 2016 to 2018 •26% employment growth since recession •750,000 tech workers as of July 2017 •July 2016-July

Pleasanton Real Estate Market Update

How many new homes have been built?

New Residential Development

• Essex Property Trust: 498 apartments

• St. Anton Partners: 248 apartments

• Summerhill: 94 condos

• Auf Der Mar: 345 apartments

• Township Square:

✓ 210 apartments

✓ 35 single-family detached

✓ 62 town homes

New Residential Development

• Essex Property Trust: 498 apartments

• St. Anton Partners: 248 apartments

• Summerhill: 94 condos

• Auf Der Mar: 345 apartments

• Township Square:

✓ 210 apartments

✓ 35 single-family detached

✓ 62 town homes

Condos and Townhomes For Sale – 2017 to 2018

5

1412

15 1513

19

14

107

5

14

10

3

7

14

10 1013

15

11

15

4

0

10

20

30

40

50

60

Pleasanton

Source: Bay East Association of REALTORS®

Condos and Townhomes For Sale – 2017 to 2018

0

10

20

30

40

50

60

Dublin Livermore Pleasanton


Condo and Townhome Median Sales Prices

$0

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000

$800,000

$900,000

$1,000,000

Pleasanton


Condo and Townhome Median Sales Prices

$0

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000

$800,000

$900,000

$1,000,000



Condos and Townhomes Sold – 2017 to 2018

6

14 15

2022

27

22

16

22

18

10

17

1210

26

1820 20

15

20

8

14 13

7

0

10

20

30

40

50

60

Pleasanton


Condos and Townhomes Sold – 2017 to 2018

0

10

20

30

40

50

60



678

867 919 894

774

873

(100)

100

300

500

700

900

1,100

1,300

1,500

2013 2014 2015 2016 2017 2018

Pleasanton


Detached Homes for Sale – 2013 to 2018

350

667

375

559

446 500

744

1,140 1,093

1,293

740

1,044

678

867 919 894

774

873

(100)

100

300

500

700

900

1,100

1,300

1,500

2013 2014 2015 2016 2017 2018





-

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Danville Dublin Livermore Pleasanton San Ramon


Sales Prices

Pleasanton Median Sales Prices – 2018

$1,200,000 $1,221,000

$1,325,000 $1,300,000 $1,320,000$1,285,000 $1,300,000

$1,250,000

$1,124,000

$1,249,000$1,165,000

$1,130,000

$0

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18

Pleasanton


Pleasanton Median Sales Prices – 2018

$1,200,000 $1,221,000

$1,325,000 $1,300,000 $1,320,000$1,285,000 $1,300,000

$1,250,000

$1,124,000

$1,249,000$1,165,000

$1,130,000

$0

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000




Pleasanton Median Sales Prices – 2001 to 2018

$850,000 $810,000

$685,000

$1,036,375

$1,133,875

$1,249,500

$0

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018


Tri-Valley Median Sales Prices - 2018

$0

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000




Tri-Valley Median Sales Prices – 2001 to 2018

$0

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018



Sales Price Percentage Change – Pleasanton

15%

8%

4%

9% 9%10%

-10%

-5%

0%

5%

10%

15%

20%

25%

30%

2013 2014 2015 2016 2017 2018

Pleasanton


Sales Price Percentage Change – Tri Valley

15%

8%

4%

9% 9%10%

24%

12%

7% 7% 7%6%

25%

14%

7%6%

10%

3%

-10%

-5%

0%

5%

10%

15%

20%

25%

30%

2013 2014 2015 2016 2017 2018

Pleasanton Dublin Livermore


Sales Activity

Pleasanton Home Sales – 2013 to 2018

624 655 632 614 670 694

-

200

400

600

800

1,000

1,200

1,400

1,600

2013 2014 2015 2016 2017 2018


Pleasanton Home Sales – 2001 to 2018

703

1,015 1,008 1,029

811

662 629

453

537 604 609

651 624 655 632 614 670 694

-

200

400

600

800

1,000

1,200

1,400

1,600

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018


Tri-Valley Home Sales – 2001 to 2018

-

200

400

600

800

1,000

1,200

1,400

1,600

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Danville Dublin Livermore Pleasanton


Pleasanton Sales vs. Prices – 2001 to 2018

1,029

811

624 632 670 694 $722,500

$850,000

$851,500

$950,000

$1,133,875

$1,249,500

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

-

200

400

600

800

1,000

1,200

1,400

1,600

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018


Real Estate Market Drivers

Sellers Moving Less Frequently

76

76 6

5 56

5 56

78 8

910 10

1111.5

0

2

4

6

8

10

12

14Years Owned Home Before Selling

SERIES: 2018 Housing Market Survey

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® Source: California Association of REALTORS®

Sellers Moving Less Frequently

SERIES: 2018 Housing Market Survey

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

5

8

15

30

0 5 10 15 20 25 30 35

Millennials

Gen X's

Baby Boomers

Silent Generations

Source: California Association of REALTORS®

• Regional economy - $748b GDP

• $80,000 Per capital GDP

• 4.3% growth 2016 to 2018

• 26% employment growth since recession

• 750,000 tech workers as of July 2017

• July 2016-July 2017

✓Net outflow: 45,670 to other parts of U.S.

✓Net inflow: 58,156 from outside of the U.S.

Bay Area Economic Profile


Unemployment Rate: California Counties

2.0%

2.2%

2.4%

2.7%

2.8%

2.8%

2.9%

3.2%

3.4%

3.5%

3.7%

3.7%

4.1%

4.6%

6.6%

6.9%

0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0%

San Mateo

San Francisco

Santa Clara

Napa

Orange

Alameda

Contra Costa

San Diego

Santa Barbara

Sacramento

Ventura

San Bernardino

Riverside

Los Angeles

Kern

Fresno


517,008

245,375

300,900

211,183 189,742

258,108 228,842

137,192

53,950 27,883

130,080

66,507 69,690 59,986 47,551 36,996 52,298 39,935 18,668 8,329 -

100,000

200,000

300,000

400,000

500,000

600,000

California Job Creation vs. Building Permits

2010-2017

New Jobs Building Permits

Jobs / Housing Mismatch: 2010 to 2017

SERIES: Nonfarm Job Growth & New Housing Permits

SOURCE: CA EDD, Construction Industry Research Board


SERIES: California New Housing Permits

SOURCE: Construction Industry Research Board

61360

59960

0

50000

100000

150000

200000

250000

300000

350000

Single Family Multi-FamilyCA HCD Projected

Housing Needs:

180,000/yr.


Housing Needs: 1980 to 2018

For more information

David StarkPublic Affairs Director

Bay East Association of REALTORS®

Telephone: (925) 730–4068

Email: [email protected]

Pleasanton Real Estate Market Update - Microsoft · •4.3% growth 2016 to 2018 •26% employment growth since recession •750,000 tech workers as of July 2017 •July 2016-July

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