Attention Concord, CA homebuyers and sellers! Todd Goforth, your local real estate expert, here to unravel key market metrics crucial for your real estate decisions. Understanding these metrics is vital in today’s fast-paced market.
🔍 Current Market Overview in Concord, CA:
- Months Supply of Inventory: Remarkably low at 0.66 months. This number reflects the time it would take to sell all current listings without new ones. A lower figure indicates a strong seller’s market, where homes are in high demand.
- Year-Over-Year Inventory Change: A significant decrease of -23.26%. This reduction means fewer homes are available compared to last year, further tipping the scales in favor of sellers.
- Median Days on Market: Homes are selling lightning-fast, averaging just 17 days on the market! For buyers, this means acting quickly is crucial. Sellers can expect a swift selling process.
- List to Sold Price Ratio: An impressive 101.3%. Homes are selling, on average, above their listed price, highlighting a competitive market where sellers often receive more than they ask.
- Median Sold Price: Stands at $815,000, indicating a robust market with strong values. This is great news for sellers looking to maximize their investment.
📈 Market Implications:
- For Buyers: Prepare to make quick, competitive offers in this dynamic Concord, CA market.
- For Sellers: Leverage these favorable conditions to potentially receive offers above your asking price.
Stay informed and ahead in the Concord real estate market with Todd Goforth. Whether buying or selling, understanding these metrics is key to your success. Contact me for tailored advice and insights specific to your real estate goals!