Attention Concord home buyers and Sellers! I’m going to dive into some key metrics that will give you a better understanding of what’s happening in the world of homes for sale in Concord CA and Concord real estate in general.
First up, we have the Months Supply of Inventory, which currently stands at 0.92. This metric measures how long it would take for all the homes on the market to sell, given the current pace of sales. A lower number indicates a seller’s market, while a higher number suggests a buyer’s market. With a Months Supply of Inventory of 0.92, we’re definitely in a seller’s market. This means that there are more buyers than there are homes available, driving up prices and making it harder for buyers to find the perfect property.
Concord, CA housing market
Next, we have the 12-Month Change in Months of Inventory, which is currently at 0%. This metric tracks how the Months Supply of Inventory has changed over the past year. A positive change indicates a shift towards a buyer’s market, while a negative change suggests a seller’s market. With no change in the past 12 months, it’s clear that we’re still firmly in a seller’s market.
Moving on, we have the Median Days Homes are On the Market, which is currently at 9. This metric measures how long it takes for a home to sell, on average. A lower number suggests a seller’s market, as homes are selling quickly. With homes only staying on the market for 9 days, it’s clear that demand is high and buyers are eager to snap up properties as soon as they hit the market.
Next, we have the List to Sold Price Percentage, which is currently at 104.1%. This metric measures how much of the original list price a home sells for. A higher number suggests a seller’s market, as homes are selling for more than their list price. With homes selling for over 100% of their list price, it’s clear that buyers are having to compete and pay a premium to secure their dream home.
Home prices in Concord, CA
Finally, we have the Median Sold Price, which is currently at $770,000. This metric measures the midpoint of all home sales in a particular area. With a median sold price of $770,000, it’s clear that the real estate market is thriving and homes are selling for top dollar.
Realtor, Concord CA
So, what’s the correlation between these metrics? Well, they all point towards a strong seller’s market in Concord, with high demand, low inventory, and rising prices. If you’re a seller, now might be the perfect time to put your home on the market and take advantage of the current conditions. And if you’re a buyer, be prepared to act fast and pay a premium for your dream home. Whatever your real estate needs, make sure to keep these metrics in mind as you navigate the market.