As in most local real estate markets we’ve examined, Concord’s real estate sales in May were off compared to last year. However, Concord’s showing was pretty typical of the East Bay in general.
Unit volume in May stood at 143 sold units, down 35.3% from last May, but inventory currently is moderate at 4.4 months. The expired to sold ratio increased quite a bit from the inconsequential 3.2% of last May to a still-not-all-that-bad 20.3% this May. Days on market are up, from an average of 12 last May to an average of 26 this May.
Appreciation was fairly flat from year to year. On a sold price per square foot basis, home sale prices appreciated .8%, from $381 per square foot in May 2005 to $384 per square foot in 2006.
In May of 2006, the average home listed for $542,447, and sold slightly higher at $543,042. The median sale price was $548,000.
This is Post 9 in our Blogathon for Hunger.