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 rates are concerned Freddie Mac projects mortgage rates to average 4.6 % and increase up to 5 % by the end of the year. So, if you’re looking to buy, now is the time, as rates have dropped below 4% in the recent weeks. Overall, projections are positive for both buyers and sellers in 2015.
As far as the month of November for Concord real estate, we saw slight increases and decreases across the board. The median sold price was up by just 2% year over year, from $443,000 to $450,000. Nothing notable but still an increase from last year. The number of properties sold was down which is typical for this year, as the inventory levels have been lower this year. Last November the number of sold properties was 79, compared to 72 this November, a decrease of 9%. And along with this, the number of new properties that came on the market decreased a whopping 40%, from 84 to 50. Lastly, the average days spent on the market increased by 21% from 28 days to 34 days. A slight decrease, but overall 34 days is quite fast for this time of year. Overall, Concord fared well in November; let’s see what the last month of 2014 brings!
Concord Farmers’ Market
|Tuesday||10:00 AM to 2:00 PM||Year-round|
|Thursday||4:00 PM to 8:00 PM||April 24, 2014 to October 23, 2014|
Todos Santos Plaza, Willow Pass & Grant Street Get directions…
About the Concord Farmers’ Market
The Tuesday market is open year-round, from 10:00 AM to 2:00 PM. Pick up a healthy and delicious lunch in the market and a bag of fruits, vegetables and nuts to take home!
The Thursday market open and runs from Spring to Fall and is a great place for fresh food and weekly entertainment. See you there!
The farmers’ market is open rain or shine, but it doesn’t hurt to be prepared. Click here for today’s weather forecast for the farmers’ market.