Concord, CA..."Available Homes for Sale" analysis. This report includes Single, detached homes only that are currently available for sale per the Contra Costa Association of Realtors MLS as of Dec. 10, 2009.
It appears to be trending more from Bank Owned to Short Sales. You can see from the chart below that the bulk of available homes are priced at $499,000 and below (approx. 77% of ALL available). With this trend, the report is geared to show you how each price range breaks down to the type of sale it is. Here's the terminology of the categories: REO (Real Estate Owned/Bank Owned); SS (Short Sale); NONE (non-distressed/normal sale); DOM (days on market); $/SF (Price per square foot).
There are 129 homes currently available for sale. This chart shows the breakdown based on ALL available.
| Avg. Price | %REO | %SS | %None | DOM | $/sf |
| $437,000 | 32% | 51% | 17% | 60 | $233 |
Now let's look at how this breaks down per price range. Prices are rounded to the nearest hundredth dollar.
| Price Range | % of Total | %REO | %SS | %None | DOM | $/SF |
| up to $199k | 5% | 43% | 43% | 14% | 57 | $167 |
| $200-$299k | 29% | 18% | 56% | 26% | 37 | $204 |
| $300-$399k | 21% | 22% | 19% | 59% | 34 | $239 |
| $400-$499k | 22% | 18% | 25% | 57% | 66 | $238 |
| $500-$599k | 9% | 9% | 27% | 64% | 94 | $265 |
| $600-$699k | 6% | 0% | 12% | 88% | 68 | $311 |
| $700-$899k | 5% | 0% | 17% | 83% | 183 | $220 |
| over $900k | 3% | 0% | 0% | 100% | 109 | $327 |
Summary: With investors and First-time homebuyers, the $375,000 and below market is the most active and sought after price range. With the increase/trend of more short sales versus Bank Owned, it seems to confirm what the media is saying that the push is towards the banks to work more with the owners versus foreclosing on them.
What does this mean for the home buyers? Be prepared to be in multiple offer situations in the $375k below market. Also, lenders are demanding offers to be closer to 'market' prices on Short Sales and less likely to negotiate 'hot deals'. Also, until the majority of banks learn how to streamline their Short Sale process...buckle up! A Short Sale transaction will require extreme patience and time!
If you would like more information about buying or selling a home in the Concord and surrounding areas, please contact me. If you would like to learn more about Concord, CA, please visit their website.
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