Listings in Lamorinda are down 32.6% since October, while the number of contracts written is up 11.4%. Number of closings is down as a reflection of no new inventory for buyers to choose from. We continue to have a limited supply of homes to sell, down 45.5% since June, and closings down 70% since June. The average price of homes that are on the market is still higher than buyers seem to want to pay – $1,393,000, versus a sales price of $1,010,000. The good news for those who do price their home well and have it listed – the number of days on market before an offer is written is down 25% since last month, once again driven by low inventory availability.
If you are currently looking to buy or sell a home in Contra Costa County, click the thumbnail below to enlarge our complete Contra Costa County Monthly Market Update. Visit our site for up-to-date information on Contra Costa real estate market conditions and to contact one of our real estate professionals.
(figures as of November 30, 2011)