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November 9, 2017

Tri-Valley Real Estate Market Conditions, Prices & Trends

November 9, 2017

Tri-Valley Real Estate Market Conditions, Prices & Trends

In some of the charts below, we have included data for Diablo Valley cities to provide further context for area market prices and dynamics.

Median Home Price Appreciation Trends

Average Dollar per Square Foot Values

Market Overviews

Luxury Home Sales

Market Statistics by City

Median House Price Appreciation Rates since 2011

Percentage of Listings Accepting Offers

The higher the percentage the hotter the demand.

Average Days on Market

Generally speaking, the fewer the days on market, the stronger the demand.

Seasonality & Real Estate Market

Advantages to buying during the mid-November to mid-January slowdown

Just before Thanksgiving the market begins to rapidly subside until starting to revive about 7-8 weeks later. Many buyers simply check out during this period, but there are good reasons for staying engaged – mainly the possibility of getting a much better deal. Starting in late summer, sellers begin reducing prices in large numbers as they try to capture the attention of buyers before the big slowdown: Buyers should treat these as brand new listings and take a new look. Competition between buyers drops dramatically during the mid-winter period, and since competitive bidding is the biggest single factor behind higher prices, its decline can mean significant savings. Fewer buyers also mean that sellers are often more willing to negotiate: Throw offers in at whatever price you feel is right and see where they go. It is true that the number of new listings coming on markets plunges, but there are still hundreds of listings to consider for those willing to stay in the game.

Annual Home Price Appreciation Trends by City

As the recent terrible fires have reminded us, disasters arrive suddenly and with little warning. We have three recommendations: firstly, contact your insurance agent to make sure your policy is updated to cover the full, current value of your home and possessions. Secondly, this website contains useful information on being prepared and having a plan in the event disaster strikes: Disaster Preparation Guide & Resources. Thirdly, many communities now have early-warning communications programs that can automatically email, text or call you in the event of a disaster, and then provide useful ongoing updates on the situation. Check with your county and city governments to see what is available, and sign up ASAP.

Please let us know if you have questions or we can be of assistance in any other way.

All our Bay Area real estate analyses can be found here: Paragon Market Reports