Overall, June was a booming month in real estate for the Bay Area. The job market is thriving, interest rates are still low and rent rates are at an all time high. With all of that being said, the housing market is pretty solid. Demand for homes in California showed no sign of cooling as summer officially began, with three Bay Area cities named among the nation’s five most booming real estate markets. Homes in the state remain in high demand due to limited supply conditions and a thriving economy. These factors have helped drive median list prices in some parts of (0 comments)
Pending home sales in California saw the first double-digit annual increase in three years in February and also the largest gains since the housing crisis. According to a report from the California Association of Realtors, pending home sales increased by 15.6 percent year over year in February, the most significant annual increase since April of 2009. The Bay Area also saw double-digit percentage increases which suggests that the pace of sales will pick up across the state in the coming months. This may finally give buyers a more level playing field. Concord had a solid month in March, which is inline with the recent CAR data. (0 comments)
The market has been pretty quiet among many Bay Area cities over the last few months of 2015, including Concord. Home sales declined in all nine Bay Area counties in the first month of 2015 which was the the result of limited affordability, according to a report released by the California Association of Realtors. Additionally the sales drop-off in the Bay Area was attributed to intense demand and inventory shortages, which have driven up prices. The report also stated that the Bay Area was the only region in the state where the average home seller could expect to take in about 100 percent of (0 comments)
The number of Bay Area homes on the market tightened as 2014 ended and continue to in the first month of 2015. According to the California Association of Realtors December home sales and price report, the months’ supply of inventory for single-family homes across the Bay Area dropped to 1.7 in December, down from 2.3 in November. With that, the Bay Area real estate market remains heavily tilted in favor of sellers, as it did one year ago. Along with inventory levels, home prices also dipped across the Bay Area. Even with the month-over-month slips, Bay Area counties remain the state’s most expensive (0 comments)
concord real estate market: Concord Real Estate Update - January
- 01/07/15 07:20 AM
Happy 2015 to all! What a year 2014 was for the real estate market. Overall, the market in Concord was steady but like all of the Bay Area, it was nothing to write home about. Employment statistics released earlier in the week by the U.S. Bureau of Labor Statistics (BLS) fall right in line with analysts’ recent predictions that the housing market will make a comeback in 2015. Reports from economists at CoreLogic and Wells Fargo released in December indicated they believe housing will rebound in 2015 after a disappointing 2014, and they cited improvements in the U.S. labor market as (0 comments)
concord real estate market: Concord Real Estate Update - December
- 12/04/14 05:28 AM
2014 has been a great year for the Concord real estate market. And with recent 2015 projections coming out for the U.S. real estate market, 2015 will likely be even better. Freddie Mac’s economic outlook for 2015 calls for 3 percent growth in the U.S. economy, which means good news for Bay Area housing. Home value appreciation is expected to drop slightly which is a positive for buyers and sellers. Home values have appreciated so much throughout the last year so many homeowners are all in all in a good place. This also means buyers will be more active. As far as interest (0 comments)
With only two more months left of 2014, most are wondering how 2015 projections are looking for sellers and buyers. A recent forecast by the California Association of Realtors gives much hope to homebuyers for the coming year, with a prediction of a growing supply of inventory, leveling home prices and less competition with investors. There is also a prediction that mortgage interest rates will remain at historically low levels throughout 2015. This is an incredible outlook for the coming year. And with that being said, 2014 has been a very solid year in the real estate market. Concord has (0 comments)
The U.S. real estate market is nearly stabilized with several of our local markets recovering faster than the nation, Concord being one of them. The median sale price has increased year over year by 9%, from $440,000 to $477,500. As you can see by the graph, the median sale price has remained very steady throughout 2014 so far, which is great news. There haven’t been major spikes like other neighboring cities but there also hasn’t been any drastic decreases. One area where Concord has seen some more drastic fluctuations is in the number of units sold. Since June, the number of (0 comments)
Concord’s median sale price has remained very consistent throughout the past year. We are seeing a slight uptick but nothing drastic. Year over year the median price is up by 7%, from $430,000 in May 2013 to $460,000 in May 2014. Again, nothing drastic but any increase is great news for Concord’s real estate market. We have seen the largest spikes in the last two months but otherwise it’ remained pretty steady. And like many other Bay Area cities, the number of properties sold is down. That is in relation to the inventory levels. The decrease isn’t anything significant, (0 comments)
Concord has remained steady throughout the year, with slight increases and decreases in the median sale price. Over the last month, from March to April, the median price increased from $425,000 to $472,800 an increase of roughly 12%. Year over year the increase was slightly less, around 9% from $435,000. As far as the number of properties sold, year over year the units sold decreased by 5% from 94 in April 2013 to 89 in 2014. In contrast, over the last 4 months the number of units sold has been on a steady incline, with 59 in January, 61 in (0 comments)