Home Real Estate East County Home Prices on the Rise

East County Home Prices on the Rise

by ECT

home-for-sale-sign

Good news for homeowners in East Contra Costa County as home prices are up and expected to continue to increase throughout the year.

According to Monica Malcuit, Signature Partners Realty, home prices in East County have increased from 10% to as much as nearly 30% when comparing quarter 1 of 2013 to quarter 1 of 2014.

Here is a look at the figures:

  • Antioch values up 19.3% with a median sales price of $292,500
  • Brentwood up 10.4% median sales price of $405,000
  • Oakley up 21.8% median sales price of $318,500
  • Discovery Bay up 14.8% median sales price of $423,500
  • Pittsburg up 30.5% with a median sales price of $300,000

Current inventory for East County includes 469 properties with median list prices as noted below

  • Pittsburg $324,000
  • Antioch $325,000
  • Oakley $359,900
  • Brentwood $500,000
  • Discovery Bay $649,000

She points out that due to low inventory on the market, that is pushing up home prices where prices may be increasing, she reminders buyers that interest rates are still low to offset the home values.

“East County home values continue to rise! I think this is awesome news for homeowners and a true indicator of just how desirable our communities are! Housing demands are still high so if you’ve been thinking of moving up or downsizing now may be a terrific time to sell! This can also serve as a reminder for those buyers that have been on the fence, act now while interest rates are still low!”

Also of interest is that the number of distressed sales are decreasing (short-sales and foreclosures). Last year they represented 33.2% of all properties sold and so far this year they only represent 19.6% and given that it’s still early in the year, however, Malcuit predicts that it will continue to decrease.

Cathy Daniel, Ridgewater Real Estate Services, adds that history has shown that people who wait to purchase typically will pay a higher price for a home. She encourages fence sitters to think along and hard about waiting.

“Remember that any time you are ready, it is a good time to buy or sell your home. Remember though that if you are too timid, it may cost you an e-ticket to financial freedom. The elusive dream of owning your home outright, being able to retire without any house payments. So if all your ducks are in a row, take the plunge! You won’t regret it in today’s market,” says Daniel.

In terms of Brentwood, both Malcuit and Daniel explain that Brentwood did not see as high of an increase in Quarter 1 as the rest of East County is because last year it was Brentwood who made the large jump. In this market, its now the rest of East County is trying to catch up.

Overall in Contra Costa County, home prices gained 22.8 percent to an average sale price of $425,000.

Malcuitrealty

For more information about Monica Malcuit and Signature Partners Realty, visit www.antiochhomesalesguide.com or contact Monica at (925) 784-0214 or via email at
[email protected].

CathyDaniels-245

For more information on Cathy Daniel and Ridge Water Real Estate Services, visit www.servingeastcontracosta.com or contact Cathy at (925) 784-8863 or via email at [email protected]

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3 comments

JimSimmons42 Apr 16, 2014 - 12:47 pm

This is great news!

Bill Avoider Apr 17, 2014 - 9:23 pm

Did anyone expect the realtors to say “Hold off on selling your house because prices will keep climbing and you will get top dollar if you wait”? Way to taint the article with biased statements and obvious car-salesmanship.

Bill Avoider Apr 17, 2014 - 9:25 pm

Did anyone expect the realtors to say “Hold off on selling your house because prices will keep climbing and you will get top dollar if you wait”? Way to taint this article with biased statements and obvious car-salesmanship.

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