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Pleasanton homeowners in it for the long haul Home value, quality schools, job opportunities among key factors By Dave Stark Many city homeowners and real estate professionals think there’s no reason to leave Pleasanton — a fact that will drive the residential real estate market for years to come. “Pleasanton is a unique community because it has so much to offer to so many different people,” said Jennifer Branchini, 2014 president of the Bay East Dave Stark Association of Realtors (BEAR). She should know, in addition to leading the association this year, her office at Better Homes and Gardens Tri-Valley Realty is in Pleasanton. Plus, she’s a Pleasanton resident. “Think about all the reasons to buy a home here,” she continued. “It could be a job, great schools or even as a place to retire; Pleasanton offers so much.” The concept of moving here and staying is reflected in real estate market trends. According to BEAR, in 2008 there were more than 4,200 homes listed for sale. That dropped to about 2,200 units in 2009 and hov-
ered in that range until 2011 when it dropped again to slightly more than 1,000 units in 2012 and only 740 units in 2013. During this same period, sales activity accelerated despite challenging purchase financing conditions and rising sales prices. “We know there are lots of reasons homeowners are staying in Pleasanton and rising prices and lack of inventory are two big factors,” Branchini said. “But you can’t discount the fact that there’s really no reason to leave this community.” Branchini explained that young families moving to Pleasanton for its outstanding schools can also take advantage of the employment opportunities. “Pleasanton is much more than just a bedroom community for San Francisco and Silicon Valley because you truly can live, work and play here,” she said. Affordability is another reason many homeowners are staying put. The median sales price for a single-family home peaked at $850,000 in 2005 until that amount was eclipsed in 2013 when prices topped $851,500. “We can brag about Pleasanton all day long,” Branchini said, “but when you let the numbers talk, they say the same thing. Our strong sales prices show the high demand for ownership housing in this town.” N
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Real estate professionals expect Pleasanton residents to maintain their homes in the city for years to come.
David Stark, Public Affairs Director for the Bay East Association of Realtors, manages the association’s media relations, political activities and works with elected leaders and government staff in the development of housing policies. He is also serving as the 2014 Chairman of the Board of Directors for the Pleasanton Chamber of Commerce.