Delta Association of Realtors: Commuters, Jobs and Houses

By Delta Association of Realtors

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The Delta Association of REALTORS® (DAR) would like to share some market data about one of the issues in today’s local real estate market.

As housing becomes more expensive, and the cost of living between expensive central areas and outlying counties expands, people begin to make decisions on the trade-offs between living farther out (and in larger houses) and commuting longer to their jobs. As housing supply has not caught up with demand in central suburbs and cities, home-seekers have started going further and further away to find affordable homes to purchase in the cities where they live.

This corroborated in C.A.R’s price and sales data, and our regional Housing Affordability Index, (which is a mix of income and price data).

STATE/REGION/COUNTY Q2-2017 Q1-2017   Q2-2016   Median Home
Price
Monthly Payment Including Taxes & Insurance Minimum
Qualifying Income
CA SFH (SAAR) 29 32   31   $553,260 $2,770 $110,890
CA Condo/Townhomes 38 40   40   $443,400 $2,220 $88,870
Los Angeles Metropolitan Area 31 33   33   $491,250 $2,460 $98,470
Inland Empire 43 43   46   $342,050 $1,710 $68,560
S.F. Bay Area 21 25   23 R $895,000 $4,480 $179,390
                 
S.F. Bay Area                
Alameda 19 21   23 R $880,000 $4,410 $176,390
Contra Costa 31 37   35 R $655,000 $3,280 $131,290
Marin 17 18   18   $1,302,500 $6,530 $261,070
Napa 25 24   26   $683,000 $3,420 $136,900
San Francisco 12 13   13   $1,450,000 $7,270 $290,630
San Mateo 14 15   14   $1,469,000 $7,360 $294,440
Santa Clara 17 19   19   $1,183,440 $5,930 $237,210
Solano 44 45   45   $412,000 $2,060 $82,580
Sonoma 25 25   26   $625,000 $3,130 $125,270

 

For examples, increasing prices in the Bay Area and Los Angeles have led to relatively stagnant levels of sales in more central city areas with large price gains, and increased sales and interest in homes in outer counties. This pattern is also seen in simply the sheer amount of vehicle miles traveled by Americans, which has shot past the previous high 2008 levels.

So much public data exists on people’s jobs, their commutes, and the places people live. By combining and visualizing this data in different ways, we can understand the patterns of lives, commutes, jobs and ultimately the places that people want to live in where they have to go to work.

DAR was established in 1949, then known as East Contra Costa County Board of REALTORS®. DAR is the area’s resource for real estate.

For more information on this piece, or any other real estate-related matter, please contact DAR at (925) 757-8283 or go to www.deltaAOR.com .

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