Pleasanton Home Prices Are Falling More Than Almost Anywhere in the US: Study
SmartAsset has found that Pleasanton and other Tri-Valley cities have seen some of the sharpest price drops in the country.
The average home value in Pleasanton fell from $1,762,153 in May 2022 to $1,548,736 in May 2023, a change of over 12 percent.
The average home value in Pleasanton fell from $1,762,153 in May 2022 to $1,548,736 in May 2023, a change of over 12 percent. (Scene)
PLEASANTON, CA — Pleasanton home prices are falling faster than nearly anywhere else in the United States, according to a study by financial planning firm SmartAsset.average home price in dublin irelanddublin, ca housing market predictionspleasanton, ca newsfire in pleasanton todayzillowpleasanton crime newshousing market dublin irelandhelicopter circling pleasantonSmartAsset analyzed Zillow's Home Value Index by tracking the fluctuation in values for single-family homes, apartments and cooperatives from May 2022 to May 2023.This analysis places Pleasanton in the seventh place for the fastest decline in value in the country. The average home price fell from $1,762,153 in May 2022 to $1,548,736 in May 2023, a change of over 12 percent.Are Bay Area home prices going down?
Will California home prices drop in 2023?
Are home prices dropping in California?
Where us home prices are falling fastest?
Adjoining Dublin ranked first in the entire country, down by a massive 15.4 percent in typical home value, down nearly $230,000 from $1,494,270 in May 2022 to $1,264,564 in May 2023.Livermore was ranked 15th, with prices down $127,170, or 10.67 percent, and San Ramon was ranked 17th, down $170,590, or 10.02 percent.Interested in local real estate? Subscribe to Patch's new newsletter to be the first to know about open houses, new listings and more.
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Overall, the researchers found that Bay Area homes experienced the most dramatic declines in the country, claiming the top four spots on the list. Dublin comfortably took the lead, while San Francisco was second, with values down 13.3 percent.See here for the top 18.The changes were less pronounced in SoCal, but a few cities still reported significant declines. Southland's biggest drops were seen in Santa Monica, which dropped 7 percent and ranked 41st overall, followed by Simi Valley and Burbank with 6.2 percent just outside the top 50.Here are the U.S. Cities Where Home Prices Have Dropped The MostDublin, California (15.37%)
San Francisco, California (-13.3%)
Palo Alto, California (12.82%)
Fremont, California (12.77%)
Kirkland, WA (12.37%)
Oakland, California (12.22%)
Pleasanton, California (-12.11%)
San Mateo, California (12.01%)
Bellevue, WA (11.99%)
Redmond, WA (11.61%)
While the low price point is welcome news for prospective buyers and a nightmare for owners, experts say the cooling is not a good sign for the market, noting that overall housing inventory remains tight. One expert told Bay City News that in some areas the declines may be more linked to lower demand, as people are moving to places where the cost of living is lower after years of rising prices have made homes unattainable.In the Bay Area, data from the California Association of Realtors found that the median price of a single-family home increased 36 percent between 2020 and 2022. Despite recent declines, home prices in places like Palo Alto are "unusually" expensive, the SmartAsset report says."We'd rather see house prices come down because of supply increases," Corey Smith, executive director of the Housing Action Coalition in San Francisco, told Bay City News. "We need to try to build as many homes as we can so that supply increases are what ultimately drives prices down."There are some signs that things are starting to move in that direction.In May, the state Department of the Treasury said new housing growth hit its highest level since 2008. The same report revealed that Alameda County, which is home to many cities with significant price drops, has had some of the highest housing increases in California.Smith told Bay City News he's optimistic about the years ahead, citing the state's increasing focus on affordable housing and recent legislative efforts to streamline new affordable projects that went into effect last month.Patch editor Lucas Combos and Bay City News contributed to this report.
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SmartAsset has found that Pleasanton and other Tri-Valley cities have seen some of the sharpest price drops in the country.
The average home value in Pleasanton fell from $1,762,153 in May 2022 to $1,548,736 in May 2023, a change of over 12 percent.
The average home value in Pleasanton fell from $1,762,153 in May 2022 to $1,548,736 in May 2023, a change of over 12 percent. (Scene)
PLEASANTON, CA — Pleasanton home prices are falling faster than nearly anywhere else in the United States, according to a study by financial planning firm SmartAsset.average home price in dublin irelanddublin, ca housing market predictionspleasanton, ca newsfire in pleasanton todayzillowpleasanton crime newshousing market dublin irelandhelicopter circling pleasantonSmartAsset analyzed Zillow's Home Value Index by tracking the fluctuation in values for single-family homes, apartments and cooperatives from May 2022 to May 2023.This analysis places Pleasanton in the seventh place for the fastest decline in value in the country. The average home price fell from $1,762,153 in May 2022 to $1,548,736 in May 2023, a change of over 12 percent.Are Bay Area home prices going down?
Will California home prices drop in 2023?
Are home prices dropping in California?
Where us home prices are falling fastest?
Adjoining Dublin ranked first in the entire country, down by a massive 15.4 percent in typical home value, down nearly $230,000 from $1,494,270 in May 2022 to $1,264,564 in May 2023.Livermore was ranked 15th, with prices down $127,170, or 10.67 percent, and San Ramon was ranked 17th, down $170,590, or 10.02 percent.Interested in local real estate? Subscribe to Patch's new newsletter to be the first to know about open houses, new listings and more.
E-Mail Address
Subscriber
Overall, the researchers found that Bay Area homes experienced the most dramatic declines in the country, claiming the top four spots on the list. Dublin comfortably took the lead, while San Francisco was second, with values down 13.3 percent.See here for the top 18.The changes were less pronounced in SoCal, but a few cities still reported significant declines. Southland's biggest drops were seen in Santa Monica, which dropped 7 percent and ranked 41st overall, followed by Simi Valley and Burbank with 6.2 percent just outside the top 50.Here are the U.S. Cities Where Home Prices Have Dropped The MostDublin, California (15.37%)
San Francisco, California (-13.3%)
Palo Alto, California (12.82%)
Fremont, California (12.77%)
Kirkland, WA (12.37%)
Oakland, California (12.22%)
Pleasanton, California (-12.11%)
San Mateo, California (12.01%)
Bellevue, WA (11.99%)
Redmond, WA (11.61%)
While the low price point is welcome news for prospective buyers and a nightmare for owners, experts say the cooling is not a good sign for the market, noting that overall housing inventory remains tight. One expert told Bay City News that in some areas the declines may be more linked to lower demand, as people are moving to places where the cost of living is lower after years of rising prices have made homes unattainable.In the Bay Area, data from the California Association of Realtors found that the median price of a single-family home increased 36 percent between 2020 and 2022. Despite recent declines, home prices in places like Palo Alto are "unusually" expensive, the SmartAsset report says."We'd rather see house prices come down because of supply increases," Corey Smith, executive director of the Housing Action Coalition in San Francisco, told Bay City News. "We need to try to build as many homes as we can so that supply increases are what ultimately drives prices down."There are some signs that things are starting to move in that direction.In May, the state Department of the Treasury said new housing growth hit its highest level since 2008. The same report revealed that Alameda County, which is home to many cities with significant price drops, has had some of the highest housing increases in California.Smith told Bay City News he's optimistic about the years ahead, citing the state's increasing focus on affordable housing and recent legislative efforts to streamline new affordable projects that went into effect last month.Patch editor Lucas Combos and Bay City News contributed to this report.
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