Concord Real Estate Market Conditions & Reports, Concord Market Trends, California

Market Commentary Provided by Terry Oelschlaeger
We continue to see the market dominated by REO listings which are priced below market value.

Report Date

Winter 2010

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CONNECT WITH A LOCAL PROFESSIONAL

Terry Oelschlaeger
CENTURY 21 Diablo Valley
Concord, California
925-945-2690
Oelschlaeger@agents.househunt.com
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Nearest Metro Area

San Francisco

Buyers’ or Sellers’ Market

More buyers than sellers

Average Time on Market

10-30 days

Market Trend

Decreasing

Housing Inventory

Very tight market

Inventory Comments

Starter market continues to be dominated by bank-owned properties (REO)vand short sales

Average Home Price

$200,000 - View Graph Trend

Best Selling Price Range

$200,000 - $249,000

Worst Selling Price Range

$750,000 - $799,000

Compared to Last Year

Down 25-30%

Prices As % of Asking Price

100%

Multiple Offers?

Yes

Multiple Offers Commentary

The banks continue the strategy of listing property below market value. A large buyer pool immediately responds with multiple offers. Typically the property will sell for more than it is realistically worth due to the bidding war.

Greatest Activity

First Time Buyers

Buyer Activity for the past 90 days in Concord is

No Change

Seller Activity for the past 90 days in Concord is

Decreasing

Is Financing Available For Qualified Buyers in Concord?

Yes

Existing Home Prices for the past 90 days are

No Change

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales?

More than 50%

Housing Hot Spots

Most cities within the Contra Costa County area are considered 'Housing Hotspots'

Reason to Buy/Sell

Lower prices with good selection and competitive interest rates creates a perfect time to buy in Concord! There are many first time buyers who have never been able to afford a home in the past. They are motivated, in part, by the $8,000 tax credit which will expire on December 1, 2009.

Average Sold Price

$200,000 - View Graph Trend

National Real Estate Market

National Summary: National Housing Market Recovery Near?

Latest HouseHunt Random Survey Finds Encouraging Signs - First Time Buyers Taking Advantage of $8,000 Tax Credit

Like the legendary phoenix which rose renewed from its ashes, the U.S. housing market appears to be on the verge of emerging from the worst real estate market in three years. Several encouraging signs are there.

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