It’s no secret that the local Concord CA real estate market is moving QUICKLY! We hear lots of people talking about how the market is “coming back” but I’m not so sure. I heard a few years ago, an economist talking about our housing market recovery as something of a “catfish recovery.” You know, catfish are at the bottom, but come to the surface, then back down.. up and down, up and down. We’re not probably going to have straight line up to a recovery, just as we didn’t have a straight line down (thought it did feel like that in some cases!).
Take a look at the numbers for the past year for the Concord CA real estate market. I can print reports like this for any of our local towns, just ask if you want to see one in particular. But I find this information so interesting. Look at that! Inventory of homes on the market is DOWN 77% from this quarter of last year. Supply and demand anyone? Buyers are out! Record low rates are driving buyers to buy now, and some of the lowest housing market inventory we’ve seen for a while, has collided resulting in multiple offers and very aggressive buyers.
I have some buyers searching Concord CA real estate, and they finally got THE ONE with an offer of 10% over the listing price, and very aggressive and favorable terms for the seller. Remember, sometimes it’s not all price, sometimes terms are just as important to a seller. Want to stay for a month after we close? Sure! How’s free sound to you? Yup, you do what it takes. Appraisal continues to be an issue in Concord CA real estate and our surrounding areas, so some buyers may have to come prepared to make up the difference in cash if their home doesn’t appraise for the purchase price. Certainly it is pushing values in some neighborhoods higher and higher.
Check out the stats. What do you think of this so-called “recovery?” I have a full page to view other Contra Costa Housing Market statistics. Just click.