Depending on the statistic, analyses will focus just on the Diablo Valley market, the greater Diablo Valley – Lamorinda region, or Contra Costa County – as delineated on each chart.
Surprisingly, the terrible fires did not significantly impact the number of deals being made in most Bay Area counties during the last 2 weeks of August – the exceptions being Santa Cruz, Sonoma, Monterey and Napa Counties, which saw declines of 13% to 33%.
In Diablo Valley itself, comparing the second week of August (before the fires) to the fourth week (deep in crisis), the number of listings accepting offers actually increased. (This first chart looks at week by week activity in the Bay Area.)
The number of listings accepting offers (going into contract) by month: The last 3 months have seen the highest numbers in years.
House sales volumes and median home sales prices, by city in Diablo Valley & Lamorinda:
Median house sales price trends by month:
Bay Area median house sales prices in summer 2020: One factor in the strength of buyer demand in Diablo Valley is that one gets much more for the money compared to other affluent markets.
Bay Area luxury home markets: Year-over-year summer sales volumes and percentage changes. Contra Costa County saw the second largest Y-o-Y increase in luxury home sales in the Bay Area this past summer, and the vast majority of county luxury sales is in Diablo Valley and Lamorinda.
A snapshot measure of how many listings were typically active within the county on any given day of the specified month: Inventory has remained low.
ACTIVE house listings and median ASKING prices by city as of 9/7/2020: In some of the wealthiest communities, the median asking price is well above the median sales price, an effect of having a high supply of luxury and ultra-luxury listings – which sell more slowly than the general market. These numbers change on a daily basis with ongoing market activity.
Active listings on the market in late August, by price segment, in Diablo Valley and Lamorinda. These numbers change daily.
Percentage of listings accepting offers in month: Another illustration of very strong buyer demand.
Price reductions on active listings are running very low.
The lower the Months Supply of Inventory (MSI), the stronger the demand as compared to the supply of listings. Almost all the county remains deep in “seller’s market” territory by this measure – some price segments are extremely heated.
Home sales by era of construction:
The post Diablo Valley Real Estate September 2020 Report first appeared on PEB.