Much like Alameda County, Contra Costa County experienced notable strength throughout Q3 this year, which can otherwise be seen as a slower selling season despite the excessive heat of these summer months. But instead homebuyers are flocking to Contra Costa County for its affordability, lifestyle, infrastructure, and top-notch schools which has led to Q3 price gains felt in every community here.
Contra Costa County’s $795,423 average sales price this quarter was 10 percent higher than just a year ago, and also the highest third-quarter average recorded since 2008. Sales volume only fell 1 percent from the typically busier second quarter, clocking in a total of 3,024 homes sold in Q3. This figure was also up 2 percent from the previous year. On average, homes in Contra Costa County sold after spending 24 DOM, moving at exactly the same pace as it did this time last year.
AVERAGE SALES PRICE BY CITY – THE TOP 10
Diablo led the way in Q3 with an average sales price of $2.78 million, up 22 percent from Q3 2016. El Cerrito’s 16 percent increase in average sales price pushed it up to $906,070 this quarter, while Walnut Creek’s$1.158 million average grew 11 percent year-over-year.
SALES PRICE CHANGE
Properties requiring no price change in Contra Costa County this quarter took home 4 percent on top of initial list price. For those that did receive price reductions, sellers were still able to recover 94 percent of their original asking price.