| Trends at a Glance | |||
| (Single-family Homes) | |||
| Dec 11 | Nov 11 | Dec 10 | |
| Average Price: | $575,393 | $615,243 | $622,220 |
| Home Sales: | 365 | 295 | 355 |
| Pending Sales: | 346 | 420 | 259 |
| Inventory: | 1,008 | 1,186 | 1,462 |
| Days of Inventory: | 86 | 125 | 128 |
After a nice rebound in prices in 2010, prices for single-family, re-sale homes and condos dropped last year. The median price for homes was down 9.6% and the average price was off 7.9%.
The median price for condos in the county dropped 14.3% and the average was off 13.8%.
Home sales rose for the third year in a row, gaining 7.6% over 2010. Home sales are now at their highest level since 2004.
Condo sales were up 20.4% last year.
For full details, plus the California Association of REALTORS® 2012 Forecast, click the Annual link to the left.
Sales of single-family, re-sale homes were up 2.8% in December, year-over-year.
Pending sales, homes which are under contract and scheduled to close in the next 30 to 60 days, rose 33.6% compared to last December.
The average price for single-family, re-sale homes fell 6.5% compared to November. Year-over-year, the average price was off 7.5%.
Inventory was down 31.1% from last December.
for single-family, re-sale homes in Contra Costa County rose one point to +1. (See chart below)
was flat at -7. That's the lowest level it has reached since April 2010.
has been positive since August 2008. Last month pending momentum was up one point to +12.
sales momentum by using a 12-month moving average to eliminate seasonality. By comparing this year’s 12-month moving average to last year’s, we get a percentage showing market momentum.
the blue area shows momentum for home sales while the red line shows momentum for pending sales of single-family, re-sale homes. The purple line shows momentum for the average price.
The average sales price for re-sale condos was off 2.8% year-over-year.
Year-over-year, condo sales were flat with 192 condos sold in December.
Inventory was down 54.3% from last December.
Notices of default, the first step in the foreclosure process, in Contra Costa County dropped 32.1% in December from November. Year-over-year, notices were down 33.3%, according to ForeclosureRadar.com.
Notices of sale jumped for the second month in a row, up 29.8% from November. They were down 4.7% 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 November, cancellations were up 10.4% year-over-year.
Properties that went back to the bank increased by 6.5% from October, but were down 14.3% year-over-year.
The total number of homes that have had a notice of default filed was down 28.5% compared to December 2010.
The total number of homes scheduled for sale decreased by 31.3%.
The total number of homes owned by the banks dropped 12.9% year-over-year.
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.
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Red Bars: Buyers Market | Blue Bars: Sellers Market | Gray Bars: Balanced Market
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.
Complete monthly sales statistics for Contra Costa County are below. Monthly graphs are available for each city in the county.
| December Sales Statistics | ||||||||||||
| (Single-family Homes) | ||||||||||||
| Average | Change from last year | Change from last month | ||||||||||
| Price | Sold | Pend. | Inven. | Average | Sold | Pend. | Inven. | Average | Sold | Pend. | Inven. | |
| County | $575,393 | 365 | 346 | 1,008 | -7.5% | 2.8% | 33.6% | -31.1% | -6.5% | 23.7% | -17.6% | -15.0% |
| Alamo | $1,057,650 | 4 | 12 | 79 | -10.9% | -66.7% | 50.0% | 17.9% | -27.1% | -63.6% | -25.0% | -11.2% |
| Blackhawk | $1,709,100 | 5 | 7 | 37 | -4.4% | 150.0% | 40.0% | 8.8% | 60.9% | 25.0% | 600.0% | 19.4% |
| Clayton | $536,722 | 9 | 17 | 32 | 18.7% | 12.5% | 70.0% | -22.0% | 10.6% | 12.5% | 54.5% | -8.6% |
| Concord | $283,283 | 99 | 103 | 229 | -0.6% | 32.0% | 14.4% | -18.2% | -3.8% | 57.1% | -7.2% | -4.6% |
| Danville | $822,275 | 59 | 33 | 138 | -1.3% | 37.2% | -8.3% | 24.3% | 0.7% | 43.9% | -43.1% | -15.9% |
| El Cerrito | $463,368 | 20 | n/a | n/a | 0.0% | 25.0% | n/a | n/a | -0.8% | 0.0% | n/a | n/a |
| Kensington | $604,921 | 3 | n/a | n/a | -9.4% | -25.0% | n/a | n/a | -19.7% | -25.0% | n/a | n/a |
| Lafayette | $1,013,014 | 18 | 9 | 59 | 24.0% | 20.0% | -10.0% | 9.3% | 28.4% | 157.1% | -57.1% | -33.0% |
| Martinez | $297,142 | 37 | 45 | 105 | -2.7% | -11.9% | 9.8% | -12.5% | -8.2% | -7.5% | -13.5% | -4.5% |
| Moraga | $740,000 | 1 | 5 | 18 | -21.7% | -75.0% | -16.7% | 5.9% | -34.4% | -85.7% | 150.0% | -18.2% |
| Orinda | $971,010 | 14 | 11 | 35 | 26.1% | -44.0% | 22.2% | -5.4% | -15.2% | 55.6% | -15.4% | -42.6% |
| Pleasant Hill | $404,562 | 29 | 26 | 54 | -3.7% | 16.0% | 23.8% | -34.1% | -6.6% | 31.8% | -23.5% | -19.4% |
| San Ramon | $660,751 | 49 | 45 | 122 | -2.8% | -7.5% | 0.0% | 10.9% | -8.8% | 22.5% | -25.0% | -22.3% |
| Walnut Creek | $636,053 | 39 | 33 | 94 | -11.2% | 25.8% | 50.0% | 3.3% | -9.2% | -7.1% | -19.5% | -19.7% |
| December Sales Statistics | ||||||||||||
| (Condos/Townhomes) | ||||||||||||
| Average | Change from last year | Change from last month | ||||||||||
| Price | Sold | Pend | Inven. | Average | Sold | Pend. | Inven. | Average | Sold | Pend. | Inven. | |
| County | $248,065 | 174 | 192 | 399 | -2.8% | 0.0% | 0.0% | -54.3% | -3.2% | -1.1% | -17.6% | -15.1% |
| Clayton | $338,750 | 4 | 3 | 10 | 1.6% | 100.0% | -25.0% | -16.7% | 0.9% | 100.0% | -40.0% | -23.1% |
| Concord | $120,406 | 36 | 42 | 60 | 11.0% | 5.9% | 2.4% | -64.3% | 6.3% | 12.5% | 7.7% | 1.7% |
| Danville | $321,534 | 7 | 14 | 25 | -27.7% | -53.3% | -6.7% | -39.0% | -25.2% | -50.0% | -26.3% | -16.7% |
| Martinez | $178,236 | 14 | 15 | 25 | -12.4% | 133.3% | 50.0% | -49.0% | 10.2% | 7.7% | -21.1% | -34.2% |
| Moraga | $525,500 | 4 | 2 | 4 | 29.8% | -20.0% | -60.0% | -82.6% | 75.3% | 0.0% | -60.0% | -63.6% |
| Pleasant Hill | $233,712 | 10 | 9 | 17 | -11.8% | 11.1% | 0.0% | -45.2% | -7.7% | -16.7% | -30.8% | -29.2% |
| Rossmoor | $247,513 | 41 | 41 | 136 | 33.8% | 17.1% | 78.3% | -8.7% | 7.5% | 20.6% | -8.9% | -10.5% |
| San Ramon | $326,757 | 21 | 37 | 51 | -12.7% | -30.0% | 15.6% | -34.6% | 2.4% | -32.3% | -5.1% | -15.0% |
| Walnut Creek | $276,883 | 33 | 28 | 66 | 28.8% | 57.1% | -28.2% | -40.5% | -12.7% | 3.1% | -37.8% | -10.8% |
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