I have done some market research and would like to share that information with you. I have looked at every city in the Tri-valley area and a couple cities outside. If one looks at the graphs I have built a trend is starting to appear. That trend looks like a transition. Now, no one knows for sure whether we trend up or down from here but definitely an interesting data point. Rather than include all the graphs, I will summarize my research. I have compared the median price of homes today(all size homes) versus the median price of homes in May 2003. In the areas that present the largest downward change as far as prices is concerned one would also note the largest increase in new homes being built as a ratio of new to existing homes. The following cities all have median home prices today above prices in May 2003.
Pleasanton prices are up .. 25.9%
Dublin prices are up ....... 0.1%
San Ramon prices are up ... 26.9%
Danville prices are up .... 17.7%
Livermore prices are up ... 2.1%
Fremont prices are up .... 15.9%
Alamo prices are up ....... 37.1%
Walnut Creek prices are up 25.7%
Los Gatos, CA prices are up 39.4%
The following cites have declines - i.e. if you bought a home in one of cities below in May 2003 today your home would be worth less than what you paid for it.
Antioch prices are down ... 25.5%
Brentwood prices are down .. 7.7%
Tracy prices are down ..... 20.8%
Lathrop prices are down .... 8.6%
What does the above data mean? I have my own theory on each area if you would like to chat give me a call, but note one thing. I am seeing heavy investor activity in Brentwood and Lathrop... if one looks at neighboring cities, specifically Antioch and Tracy - Brentwood and Lathrop are experiencing some price stability as well as price improvements. ~ Gail
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