It’s like seeing Big Foot and the Loch Ness monster on the same hike.

multi yoy

 

This is a graph of the year over year sold price for the Walnut Creek, Concord, Pleasant Hill and Martinez area.  The median sold price is up to $455,750 from $320,000 the year before.  That’s a 42% increase.

WOW.  Now before we all start dancing and singing “Happy Days are Here Again” let’s take a step back.  This is a rear view mirror perspective on the market.  For all of those naysayers out there who thought the market was going to double dip, I hope you have a lot of MRE’s in your survivalist cellar because your double dip isn’t happening for another 5-6 years.  However, what we are seeing is, well, it’s like a siting of Big Foot or Nessie.  It’s a balanced market.

What is a balanced market?  Most agents wouldn’t know one if it walked up to them with a glittery name tag on.  It’s a  strange place where equilibrium lives.  There are equal buyers and sellers.  Supply equals demand.  And crazy need not apply.

I’m going to enjoy this market.  I’m going to use it to get some of my battle weary buyers into contract.  Because nothing makes me happier than handing over the keys to new buyers.

Somebody wants to give you a lot of money for your house. Right. Now.

It’s crazy.  I run the numbers regularly for each of the markets I work.  Here is the median sold price for Contra Costa county.

Any questions?

Median sold price in Contra Costa County is up 31%.  Sellers, take note, I’m talking to you.  People want to give you a lot of money for your house.  Take it!

I don’t mean to tell you to go live in a refrigerator box under the 680 or anything silly like that, but I do mean to tell you that it is a great time to sell.

Do you need to make a move due to Life?

  • Lay off or loss of job
  • Retirement
  • Change in your family structure, life happens
  • Move closer to your children?  Grandchildren?

The timing couldn’t be better for people in those positions.  Especially if you want to go to someplace a little less “on the grid”.  I’ve had folks cashing out to be in the Sierra foothills, Missouri, Idaho and Tennessee.  Believe me, that Bay Area funny money does real well in those places.

Interest rates remain ridunkulously low right now.  This is bringing out the buyers in droves and benefiting the sellers immensely.

I can help make the transition smooth.

 

Contra Costa County experiences a real estate perfect storm

Prices are low, money is cheap, it’s a great time to buy.

 

Walnut Creek, Pleasant Hill, Concord and Martinez combined median sold price by month.

This represents a minor drop of about 6% over last year.  Looking at the chart, it’s apparent that it’s trending upward.  That means the bottom has been and gone.

After a summer of noise with the debt ceiling, an agreement was reached last night.  The mortgage market responded with ridiculous rates this morning.  A fixed rate mortgage with Bank of America is at 4.250.  Ridiculous.

So, let’s recap.  Prices are low, but the bottom has been reached.  Money is cheap.  Dirt cheap.  Now is the time to get off the fence.