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.
The Pleasant Hill real estate market has remained very steady as far as the median sale price is concerned. The year over year increase was roughly 13%, from $576,250 in October 2013 to $649,000 this October. Contrastly, there was a considerable year over year decrease in the number of sold properties by month, with a 32% drop. There was also a slight decrease in the amount of units under contract, from 33 in October 2013 to 29 in October 2014. And lastly, there was a 22% year over year increase in the number of new properties that came on the market. Pleasant Hill had an interesting month in real estate. the new year is just around the corner so we'll see how the next two months fare.
November Community Event
When: Saturday November 15th
Where:Trelany Road (next to City Hall)
Time: 9 a.m. to 1 p.m.
Join us every Saturday for the season's freshest produce from your favorite farmers. Throughout the season you'll also find many new producers and products as well as live music and fun special events to make your farmers' market better than ever!