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December 16, 2020

Diablo Valley Real Estate December 2020 Report

December 16, 2020

Diablo Valley Real Estate December 2020 Report

Depending on the statistic and data source, the analyses in this report will focus just on the Diablo Valley region, Diablo Valley and Lamorinda, the full county, or the Bay Area – as delineated on each chart.

Though Covid-19 upended many normal seasonal trends this year, the market did begin its typical “holiday season” slowdown in November – however activity remained well above levels of last year. It is unknown how the latest pandemic circumstances may affect the market in December, which is usually by far the slowest month of the year.

More importantly, we hope you and your loved ones stay safe and well during this challenging holiday season.

The usual decline in market activity in November is illustrated in the next 3 charts reflecting new listings coming on market, the total number of active listings, and the number of listings going into contract. December typically sees the nadir of activity, but that does not mean homes do not continue to be listed and sold.

Market activity as measured by the number of listings going into contract, though dropping in November – as is the normal seasonal trend – was 47% higher than in November 2019.

Below are 3 more statistics measuring the strength of buyer demand, which has been quite strong indeed in recent months.

The biggest year-over-year increases in dollar volume sales since the pandemic hit occurred in counties where population densities are lower.

Highest priced listings on the market in early November, and the highest priced MLS home sales occurring May through October 2020, by Bay Area County. In Contra Costa County, luxury home sales are almost totally concentrated in Diablo Valley and Lamorinda.

4 charts on trends in the Diablo Valley and Bay Area luxury home markets – which, generally speaking, have seen very robust demand since the pandemic hit.

Link to our full NorCal Luxury Home Market Report

As far as the square footage one gets for one’s dollar, the greater Diablo Valley and Lamorinda market is the best value for luxury home buyers in the Bay Area.

After the more rural counties of Sonoma, Santa Cruz and Monterey, Contra Costa had the highest year-over-year increase in the number of luxury home sales.

The post Diablo Valley Real Estate December 2020 Report first appeared on PEB.