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Home Prices Rise in Concord During Market Comeback

The median home sale price in Concord has grown by 12.5 percent over last year, although inventory still remains low in a competitive market.

The real estate market in the Bay Area is bouncing back as home prices increase. The number of houses being sold is also up across the area — but Concord is behind the trend in that department.

In October, the volume of home sales in the Bay Area grew for the 16th consecutive month and the median sale price climbed for the 6th straight month, according to DataQuick

In Concord, the median sale price in September was $270,000, a 12.5 percent increase from September 2011. However, inventory remains low in the Concord area, driving prices up for the few homes that are available, according to local Realtor Catherine Myers. The volume of sales has grown more slowly in Contra Costa County than in neighboring Alameda County.

DataQuick reported Wednesday that sales across the Bay Area in the middle- and high-end of the market are rising even as sales below $300,000 in October declined year-over-year. 

On Wednesday, Federal Reserve boss Ben Bernanke said that banks may be hampering the U.S. economy's recovery by denying home loans to creditworthy borrowers. 

At 3.34 percent, the average rate on a 30-year loan is at its lowest point since 1971. 

Sales Volume Median Price October 2011 October 2012 Percent Change October 2011 October 2012 % Chng Alameda 1308 1618 23.7% $340000 $384000 12.9% Contra Costa 1329 1454 9.4% $250750 $302500 20.6% Source: DQNews Contra Costa County Median Home Sale Price September 2012 City/County/Area Number Sold Sept. 2012 Sept. 2011 Percent Change Contra Costa County 1403 $320,000 $253000 26.48% ALAMO 23 $1,171,000 $975000 20.1% CLAYTON 17 $475,000 $497000 -4.43% CONCORD 116 $270,000 $240000 12.5% DANVILLE 76 $780,000 $785000 -0.64% DIABLO 4 $1,585,000 $2,541,500 -37.64% DISCOVERY BAY 32 $355,000 $300,000 18.33% EL CERRITO 16 $399,500 $490,000 -18.47% EL SOBRANTE 27 $312,500 $260,000 20.19% HERCULES 35 $260,000 $280,000 -7.14% LAFAYETTE 26 $835,000 $935,000 -10.7% MARTINEZ 65 $328,500 $239,500 37.16% MORAGA 11 $820,000 $752,500 8.97% OAKLEY 73 $257,500 $175,000 47.14% ORINDA 29 $940,000 $885,000 6.21% PINOLE 20 $281,250 $209,500 34.25% PITTSBURG 81 $181,250 $150,000 20.83% PLEASANT HILL 39 $435,000 $433,500 0.35% RICHMOND 89 $150,000 $133,500 12.36% RODEO 8 $221,250 $264,500 -16.35% SAN PABLO 62 $180,000 $157,750 14.1% SAN RAMON 120 $637,000 $628,500 1.35% WALNUT CREEK 128 $478,000 $440,000 8.64% Source: DQNews

 

Alameda County Median Home Sale Price September 2012 County/City/Area Number Sold Sept. 2012 Sept. 2011 Percent Change Alameda County 1395 $380,000 $344,500 10.3% ALAMEDA 55 $487,500 $475,000 2.63% ALBANY 17 $575,000 $445,000 29.21% BERKELEY 49 $649,000 $607,000 6.92% CASTRO VALLEY 61 $425,000 $436,000 -2.52% DUBLIN 87 $493,000 $412,750 19.44% EMERYVILLE 50 $235,000 $264,500 -11.15% FREMONT 207 $540,000 $432,000 25% HAYWARD 158 $280,000 $251,000 11.55% LIVERMORE 101 $417,500 $370,000 12.84% NEWARK 47 $326,000 $290,000 12.41% OAKLAND 289 $250,000 $215,000 16.28% PLEASANTON 77 $687,500 $659,500 4.25% SAN LEANDRO 94 $309,000 $297,500 3.87% SAN LORENZO 24 $285,000 $285,000 0% UNION CITY 51 $412,500 $372,000 10.89% Source: DQNews

Have you been trying to buy a home or recently become a homeowner? Share your experience of the Concord real estate market in the comments below.

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