Housing Market in Contra Costa

The Contra Costa housing market are showing a trend of increased housing prices, but a decrease in the amount of buyers. Over the past year, home values have increased by 21.3 percent, and are expected to increase by another 6.8 percent in the next year. The average amount of time that a house spent on the market was just 23 days, which is a large decrease compared to the average of the past 14 years, in which houses typically spent 44 days on the market before being sold.

The median price for houses on the market is $499,000, while the median price for houses that actually sold is $463,035. The typical price per square foot in Contra Costa is still much lower, at $292, than the price per square foot in the San Francisco Metro area, which averages at $406. The median rental price in the Contra Costa area is $1,800.

There is also a much higher rate of foreclosures in the Contra Costa area as compared to that of the San Francisco area. Every 2.6 homes out of 10,000 homes in Contra Costa are being foreclosed upon, while only every 1.8 homes in the San Francisco area had the same fate. This is still much lower than the national average of 4.6 homes out of every 10,000 that are foreclosed upon. The percent of delinquent homes in Contra Costa is 5.55 percent, which is much lower than the national average of 7.2 percent. The percent of homeowners who are underwater in Contra Costa if 16.7 percent, which is significantly higher than the 10.5 percent of underwater homeowners in San Francisco.

If you are looking into the real estate market in Contra Costa County, contact Stella Tsakonas. As a real estate professional, she can help both buyers and sellers through the real estate process.