Recent sales and trends in Real Estate

Our local Real Estate market continued to be strong in July 2013. Multiple offers appear to be leveling off to about half of all sales in most communities, the exceptions being Lafayette (a bit of a surprise considering the average sale price of $1.25MM in July), Concord, and San Ramon. The average amount over asking also dipped and are still depressing if you’re trying to buy. There was also a bit of a slump in the number of sales in several communities. This is partly seasonal; fewer homes go pending in June as families prepare and leave for summer vacations. This may also be due to the spike in Mortgage Interest Rates by 1% or more in June.


Sales statistics for the month of July in Central Contra Costa:


Lafayette

Total Number of Sales – 30

Average $$ Over Asking – (20 sales) – $105,695

Average Sale Price for July – $1,250,462


Walnut Creek:

Total Number of Sales – 60

Average $$ Over Asking – (35 sales) – $48,898

Average Sale Price for July – $876,182


Alamo:

Total Number of Sales – 19

Average $$ Over Asking – (8 sales) – $43,313

Average Sale Price for July – $1,441,925


Danville:

Total Number of Sales – 75

Average $$ Over Asking – (35 sales) – $51,896

Average Sale Price for July- $1,087,196


San Ramon:

Total Number of Sales – 85 (last month 86)

Average $$ Over Asking – (58 sales) – $33,678

Average Sale Price for July – $889,686


Pleasant Hill:

Total Number of Sales – 35

Average $$ Over Asking – (18 Sales) – $51,692

Average Sale Price for July – $601,990


Concord:

Total Number of Sales – 109

Average $$ Over Asking – (66 sales) – $27,323

Average Sales Price for July – $452,372


If you’re a prospective Buyer, I wouldn’t expect the slight dip in prices to be a trend. If anything, I believe you’ll see prices start to level off for the remainder of the year.