Concord Short Sale Market Update | November 2012 Real Estate Stats

Sumo

Concord Short Sale Update, Market Stats for November 2012 for Concord, CA

Your Concord short sale specialists have a market update for homeowners in the Concord, CA area. This is going to be for November of 2012, talk a little bit about what’s happening in the market. For single family residences, the number of new listings in November 2012 was 74, and that compared to 104 new listings in 2011. So certainly we’ve seen the number of new listings decrease year-over-year. That’s down about 29%. If we look at the median sales price, meaning what was the average price of the homes sold, that’s actually up 20% year-over-year. So the median sales price in Concord was $343,000. The inventory for homes for sale, 62 homes for sale in 2012, and that is certainly quite a bit less than it was the year before in November of 2011. These stats reflect not only Concord short sales, but also equity sales (with profit), and bank owned/REO sales.

If we look at townhouse and condos, number of new townhouse/condo listings in 2012, November, was 21, and the previous year there was actually 36. So there was about 40% more townhouse and condos available in Concord last year than there was this year.Then the median sales price for townhouse/condos is up about 33%, so we’re seeing the average price point go up. It doesn’t necessarily mean the home prices went up 33%. But it means that the average sales price on what people are actually purchasing is up about 30%. So, again, we’re certainly continuing to see an increase of prices a little bit, becoming more of a seller’s market. Not as much inventory available on the market, but certainly a lot of buyers. Anytime you’re looking at price points under $300,000, you’re going to continue to see more cash buyers in there, and more competition when you’re looking to buy in that price range. So, again, there’s kind of some information for November 2012 for Concord short sale Real Estate. If you have any questions let us know, here is our contact page. You can also learn more about buying or selling a Concord short sale home on our YouTube Channel.