Our team decided it would be a good idea to provide you a little insight into how the real estate market is starting off here in 2017. More specifically we are going to look at the 94521 Zip Code of Concord, CA as that is an area we do many transactions. If you are interested in selling your home, click the graphic at the bottom of this post to get in touch!
After some incredibly strong years, we are heading into the early spring season where home sales perform extremely well for sellers. Once we get past the Super Bowl, the market in our area tends to accelerate significantly.
As interest rates are expected to start increasing throughout the year, we believe you can expect strong performance as Spring starts up. Once interest rates climb up a bit, we may see a slow down as the we transition to the second half of the year. Hopefully not…it all depends on how those rates do for buyers.
Let’s Take A Look At Some Numbers
The 94521 area of Concord, CA is one that a lot of home buyers will look to. It’s still within a reasonable commute to bigger areas, and the prices are significantly lower than what you will find in Walnut Creek and Lafayette. So we see a lot of families heading out this way, among others who are looking for a more mellow lifestyle that is still close to the action.
Since January 1st, 2017, 14 listings have come to market at the time of writing this article on January 27th. Of those 17, 3 are already pending. Only 5 of the 14 listings have been on the market for more than 10 days. Of those listings, there shouldn’t be much concern as they still have a low market time. Also, not many people are looking to move right before or around the Super Bowl. I don’t know about you, but we are still recovering from the holidays as well!
When looking at the listings, you can tell which neighborhoods perform well and which don’t. One particular area is bordered by Denkinger, Concord Blvd., Bailey Road, and Clayton… Home buyers love homes in this neighborhood.
As Steve is the number 1 agent in that neighborhood over the last few years, strong seller performance is not a surprise. Families are interested in not only the single story floor plans, but also the second story ones. With the two story homes, buyers are maximizing their dollar a little more and in most cases they are getting a downstairs bedroom and full bath for when they have visitors (like their parents).
What Prices Are These Homes At?
In the 14 listings so far this year, the average list price in the 94521 zip code is $646,621. Most of the listings are in the $500k-$600k range. Remember when things were much lower? Seems like a lifetime ago!
Time To Think About Selling Your Home In Concord? Get In Touch!
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