How is the health of the East Bay real estate market?
Contra Costa County
Number of Active Listings are up 25–30% year-over-year, but New Listings are trending down since May at 15–20%. This means more homes are sitting on the market with an increase to 20 days-on-market. Median Sales Price is trending downward at 1–5% increase compared to last year.
Similar story, except the median sales price = trending downward at 11% since last year.
Takeaways: The lack of supply is still the main driver for where the buyer pool is focusing their energy on. Homes that are dialed in are still garnering a lot of buyer interest and selling for high prices (albeit not what we saw 3 months ago). Whereas the homes that have room for criticism, end up sitting on the market and seeing price reductions. Of course, there are nuances to these trends by neighborhood. Reach out to me to learn more!