Contra Costa County – Monthly Market Update

CONTRA COSTA COUNTY

The median single-family home price in our Contra Costa County region has been steadily climbing all summer and reached a yearly high in August: $1,072,500. At 1.4, the MSI (months supply of inventory) was unchanged from the previous month and tied a yearly low.MonthlyMarketUpdate_Aug14_ContraCosta

Homes left the market in 24 days, on average, consistent with levels observed in June and July. Sellers received 99 percent of original price, the first time since January that they haven’t enjoyed slight premiums.

Defining Contra Costa County: Our real estate markets in Contra Costa County include the cities of Alamo, Blackhawk, Danville, Diablo, Lafayette, Moraga, Orinda, Pleasant Hill, San Ramon, and Walnut Creek. Sales data in the adjoining chart includes single-family homes in these communities.


EAST BAY

The East Bay remains a challenging market for buyers, with the MSI registering 0.9 for the second straight month. Because of the slim supply of available homes, buyers continued to pay almost 10 percent above list price, in line with what we’ve observed this summer.MonthlyMarketUpdate_Aug14_EastBay

At $835,000, the median sales price increased from July but fell just short of its yearly peak. Homes sold in an average of 23 days, just a bit slower than in the previous four months.