Real Estate Update August 2021

Central Contra Costa Home Sales 1st Half 2021

Sales Statistics Chart

Although list prices and sale prices vary considerable from say Alamo to San Ramon, by taking in all of the communities from Walnut Creek to San Ramon we can get a pretty good idea of real estate trends in the first half of 2021.

All of these cities are highly desirable, which is confirmed by real estate prices that are considerably higher than in most parts of the Bay Area. The driving forces are very much related to quality of life – schools, leisure activities and access to major employment centers.

The above charts tell it all. 2021 has been a wild ride for buyers and sellers, despite any impact from Covid-19 that would normally be expected to result in a less active real estate market.

It’s all about supply and demand, of course, and although more people want to move into the East Bay, inventory levels are insufficient to meet their needs. The result is that many homes , particularly the more appealing ones, are selling well above list price and with multiple offers.

Although not shown here, if only Danville and San Ramon were to be considered, the picture is ebven more dramatic, with average sale price increase around 20% year to date.

This level of price increases is not sustainable in the long term though, and prices will inevitable start to stabilize soon. Right now though, there is little doubt that it is a very good time to list your home for sale, especially if you are moving to an area where homes are more affordable.

 

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