Real Estate Cycles as of March 2014

Contact An Agent

Remember, the real estate market is a matter of neighborhoods and houses. No two are the same. For complete information on a particular neighborhood or property, call me.

P.S. The FHA requires all condo projects to be re-certified before they will make a loan. To find out if the condo project you’re interested in is eligible, go here: https://entp.hud.gov/idapp/html/condlook.cfm.

The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or property, call me.

If I can help you devise a strategy, call or click the buying or selling link in the menu to the left.

Monthly Statistics

Complete monthly sales statistics for Contra Costa County are below. Monthly graphs are available for each city in the county.

February Sales Statistics
(Single-family Homes)
Prices Units Change from last year Change from last month
Median Average Sold DOM SP/LP Median Average Sold Median Average Sold
County $480,000 $607,286 487 36 101.0% 17.1% 13.0% 6.8% 13.5% 6.7% 10.4%
Alamo $1,200,000 $1,301,608 13 55 98.5% -13.2% -5.6% 8.3% -14.7% -6.7% 116.7%
Antioch $315,000 $320,881 47 47 100.0% 12.5% 18.4% -17.5% 8.3% 7.4% -34.7%
Bay Point $247,500 $247,500 2 215 119.6% 20.4% -2.3% -71.4% 3.1% -4.0% -60.0%
Blackhawk $1,269,900 $1,566,100 9 26 97.4% -2.9% 16.9% 125.0% -41.2% -27.5% 350.0%
Brentwood $430,000 $432,343 49 42 99.4% -1.6% -12.9% 28.9% 7.5% 0.9% -9.3%
Clayton $630,750 $652,813 8 30 100.3% 1.3% 10.2% 33.3% 2.1% 10.0% 60.0%
Concord $430,000 $449,185 56 25 101.5% 16.2% 18.2% 19.1% 2.4% -1.6% 21.7%
Danville $979,000 $1,090,663 31 23 101.5% 17.2% 23.4% 6.9% 0.7% 7.6% 19.2%
Discovery Bay $431,750 $540,875 12 91 95.2% 11.3% 11.3% -7.7% -6.5% 7.6% -25.0%
El Cerrito $597,500 $602,802 14 23 108.3% 4.7% 4.7% 75.0% -12.8% 250.0% 250.0%
El Sobrante $400,000 $444,333 6 24 108.4% 49.0% 65.5% 200.0% 24.6% 48.5% 50.0%
Hercules $480,000 $480,000 3 12 102.2% 15.7% 21.2% -40.0% 1.1% 2.1% 0.0%
Kensington $810,000 $1,145,000 3 31 98.9% n/a n/a n/a 40.9% 40.9% 50.0%
Lafayette $1,265,500 $1,433,200 10 89 100.0% 8.7% 0.9% 100.0% -7.3% -3.9% -9.1%
Martinez $510,000 $480,663 27 43 100.4% 41.7% 18.1% 35.0% -6.6% -18.3% 22.7%
Moraga $985,000 $1,090,000 3 35 102.0% -13.8% -13.4% -50.0% -2.0% 11.9% -40.0%
Oakley $329,500 $353,002 28 43 100.0% 19.8% 21.2% 64.7% 0.5% 6.2% 64.7%
Orinda $975,000 $999,583 12 29 103.3% 6.1% -6.2% 20.0% -30.9% -29.4% 140.0%
Pinole $475,000 $473,600 5 17 103.7% 62.4% 55.9% 25.0% 21.0% 15.9% 25.0%
Pittsburg $305,000 $323,887 23 35 100.7% 27.1% 28.3% 21.1% 1.7% 3.8% 35.3%
Pleasant Hill $670,500 $658,849 14 40 100.4% 28.3% 23.4% 16.7% 2.2% 5.7% -30.0%
Richmond $313,500 $326,704 33 35 103.0% 25.4% 20.9% 13.8% 8.1% 6.1% 13.8%
Rodeo $390,000 $372,714 7 25 100.7% n/a n/a n/a 12.2% 17.7% 16.7%
San Ramon $925,500 $875,503 36 18 102.9% 15.0% 0.7% 71.4% 12.5% -8.4% 50.0%
Walnut Creek $822,500 $878,958 24 19 101.4% 16.7% 10.0% -25.0% -2.5% -2.1% -4.0%

 

February Sales Statistics
(Condos/Townhomes)
Prices Units Change from last year Change from last month
Median Average Sold DOM SP/LP Median Average Sold Median Average Sold
County $365,000 $378,570 147 27 100.9% 3.5% 1.0% 18.5% 3.5% 1.0% 18.5%
Antioch $107,000 $114,817 3 21 98.0% 15.7% -3.1% -50.0% 15.7% -3.1% -50.0%
Concord $190,000 $184,083 12 18 102.6% -9.5% -27.2% -29.4% -9.5% -27.2% -29.4%
Danville $560,500 $583,400 10 41 102.2% 12.1% 16.0% 11.1% 12.1% 16.0% 11.1%
Hercules $230,000 $226,429 7 19 100.2% 4.8% 3.2% 250.0% 4.8% 3.2% 250.0%
Martinez $370,000 $349,600 5 18 100.4% 12.8% 13.3% 66.7% 12.8% 13.3% 66.7%
Moraga $542,000 $562,333 3 82 99.4% 17.8% 22.2% 200.0% 17.8% 22.2% 200.0%
Pleasant Hill $439,500 $392,000 6 49 99.1% 5.0% 0.6% 100.0% 5.0% 0.6% 100.0%
Richmond $365,000 $331,000 5 19 101.2% 18.0% -4.3% -37.5% 18.0% -4.3% -37.5%
San Pablo $192,000 $192,250 4 12 106.7% 3.8% 3.9% 300.0% 3.8% 3.9% 300.0%
San Ramon $528,000 $534,905 21 26 101.6% 5.8% 11.4% 23.5% 5.8% 11.4% 23.5%
Walnut Creek $365,000 $365,368 58 27 100.6% 11.3% -3.1% 16.0% 11.3% -3.1% 16.0%

Foreclosure Statistics…

Notices of default, the first step in the foreclosure process, in Contra Costa County, spiked 30.4% in January from December. Year-over-year, notices were up 43.9%, according to PropertyRadar.com.

Notices of sale fell 5.3% from December. They were down 40.6% year-over-year.

After the filing of a Notice of Trustee Sale, there are only three possible outcomes. First, the sale can be cancelled for reasons that include a successful loan modification or short sale, a filing error, or a legal requirement to re-file the notice after extended postponements.

Alternatively, if the property is taken to sale, the bank will place the opening bid. If a third party, typically an investor, bids more than the bank’s opening bid, the property will be sold to the third party; if not, it will go back to the bank and become part of that bank’s REO inventory.

In January, cancellations were down 16.2% from December, and they were down 76.8% year-over-year.

Properties that went back to the bank fell 17.7% from December, and they were down 39.3% year-over-year.

The total number of properties that have had a notice of default filed dropped by 0.7% from December. Year-over-year, notices were off 41.5%.

The total number of homes scheduled for sale decreased by 3.2% from December, and they were down 63.7% year-over-year.

The total number of homes owned by the banks fell 0.7% from December, and they were down 30.9% year-over-year.

Banks own approximately 1,096 homes in Contra Costa County.

This page is copyrighted by http://rereport.com. All rights are reserved.

FacebookTwitterGoogle+Share