Pleasanton & Tri-Valley Housing Market Update April 2025: Inventory Rising, Buyers Cautious, What It Means for Home Prices

Summary:
The April 2025 Tri-Valley real estate market is transitioning from the fast early-year seller market to a more balanced market. Inventory has increased across Pleasanton, Danville, San Ramon, Dublin, Livermore and Alamo, average days on market have risen to about 33 days, and buyers are showing strong interest but submitting fewer offers. Mortgage rates may decline due to falling Treasury yields, which could bring additional buyers back into the market.

Pleasanton & Tri-Valley Real Estate Market Update – April 2025

By Gina Piper | Updated April 2025

Key Takeaways

• Market pace: Slower than early-year activity

• Inventory levels: Rising significantly across all Tri-Valley cities

• Days on market: Increased to approximately 33 days

• Buyer behavior: Strong showing activity but hesitant offer activity

• Market outlook: Financial market volatility is influencing buyer confidence and mortgage rates

Market Activity Slows After Early-Year Momentum

Compared to the more active period from January through early March — when inventory was low and well-priced homes sold quickly — the current market is moving at a slower pace.

This shift does not indicate weak demand. Instead, it reflects a transition from a tight inventory environment to a market where buyers have more options and therefore more time to evaluate decisions.

Inventory Levels Continue to Rise

Active Listings (April 2025)

Inventory has increased across every Tri-Valley city, with particularly significant growth in San Ramon, where available homes rose by 47 — an increase of more than 50% since the prior update.

In addition, local vendors such as inspectors and home stagers remain very busy, indicating that more listings are preparing to come to market as the spring season progresses.

Days on Market Increasing

As inventory rises, marketing times are naturally extending.

• Average days on market: approximately 33 days

• Earlier this year: fewer than 20 days (estimated)

Homes are still selling, but the urgency seen earlier in the year has moderated. Buyers now have the ability to compare properties rather than immediately competing for limited options.

Buyer Activity: Strong Interest, Cautious Offers

Open house traffic remains high, showing that buyers are actively searching. However, many are hesitant to submit offers.

A recent Pleasanton listing illustrates the trend:

• Over 80 groups toured the home in one weekend

• Several buyers expressed interest

• Only one offer was ultimately submitted

This pattern is currently occurring across multiple listings: strong showing activity paired with limited offer activity.

Financial Markets Influencing Buyer Confidence

Recent stock market volatility and broader economic uncertainty appear to be affecting buyer behavior. When financial markets fluctuate, buyers often become more cautious about making large financial commitments.

One potential counterbalance is mortgage rates. As investors move money into bonds during stock market declines:

• Treasury yields fall

• Mortgage rates typically follow

The 10-year Treasury yield — a key indicator for mortgage rates — recently reached its lowest level since October of last year. Mortgage rates are likely to move in the same direction, which could encourage more buyers to proceed with purchases.

What This Means for Sellers

• More competing listings than earlier in the year

• Pricing strategy is increasingly important

• High showing traffic does not always translate into offers

• Proper preparation, presentation, and realistic pricing are critical to attracting serious buyers

What This Means for Buyers

• Significantly more choices than earlier this year

• Less pressure to rush into decisions

• Potential opportunity if mortgage rates decline

• Increased negotiating leverage in certain situations

Market Outlook

Financial markets are currently reacting to economic uncertainty and tariff concerns, which is likely to produce continued short-term volatility. However, lower bond yields could lead to lower mortgage rates, potentially bringing hesitant buyers back into the market.

While conditions are less competitive than earlier this year, buyer demand has not disappeared — it has become more cautious. As markets stabilize and buyers gain confidence, activity should improve.

Overall, the Tri-Valley housing market is transitioning from a fast-paced seller environment to a more balanced and deliberate market, rather than entering a downturn.

Is it a buyer’s or seller’s market in the Tri-Valley right now?
The market is shifting toward a more balanced environment. Homes are still selling, but buyers have more choices and are taking longer to make decisions.

Why are homes getting showings but fewer offers?
Buyers are active but cautious due to financial market volatility and interest rate uncertainty. Many are waiting for confirmation that mortgage rates will stabilize or decline.

Are home prices dropping in Pleasanton and the Tri-Valley?
Prices have not broadly declined, but increased inventory is reducing extreme bidding wars and giving buyers more negotiating power compared to earlier in the year.