Discovery Bay Market Report – Is this Ship Sunk?

By
Real Estate Broker/Owner with Home Point Real Estate DRE # 01492725

While much of East Contra Costa County seems to be stabilizing Discovery Bay is still heading down: The trend from Last Months Market Report Continues. This numbers were taken from the MLS on May 18, 2009. I only looked at Single Family Homes.

In March 29 homes sold in Discovery Bay with an Average Price of $377,293.00 and a Median Price of $325,000.00. The homes that sold spent and average of 42 days on the market and sold at an average price per SF of $136.00. The prestigious homes in Discovery Bay have Deep Water Docks and eight of those homes sold in March. The average price on those homes was $580,500.00 and the median price was $534,500.00, spending and average of 39 days on the market and costing $202.00 per SF.

In April 22 homes sold in Discovery Bay with the average price dropping to $329,018.00 and the median going down to $302,500.00. The average number of days on market jumped to 65 and the average price per SF came down to $118.00. Five homes with deep water docks with an average price of $464,000.00 and a median price of $400,000.00, those homes spent 73 days on the market and sold for an average of $169.00 per SF.

Currently there are 78 homes for sale in Discovery Bay with an average asking price of $575,777.00 and a median asking price of $474,450.00. These homes have set on the market an average of 128 days, with an average listing price of $216.00 per SF. There are 32 with deep water docks with an average listing price of $833,615.00 and a median price of $814,000.00. Those have set on the market an average of 167 days with an average SF asking price of $311.00.

Some of the numbers are small and can be affected widely by one or two sales. Discovery Bay also contains a number of distinct neighborhoods, all with distinct trends. However, the general trend it down. There is a wide disconnect between what people are asking for and what homes are selling for.

Each home is unique and if you want an evaluation of your home please let me know.

If you are interested in Buying a Home or Selling a Home in Brentwood or anywhere in East Contra Costa County, Antioch, Oakley, Discovery Bay, Pittsburg and others please contact me. I specialize in helping buyers of Bank Owned Homes. For regular updates please subscribe to this blog.

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