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You are here: Home / Dana Estates News / Dana Estates Market Report – November 2015

Dana Estates Market Report – November 2015

December 11, 2015 by Peter Maclennan 1 Comment

Sunrise on Lynwood Dr.
Looking south on Lynwood Dr. near Beechwood Dr.

The Real Estate Market Continues to chug along in Dana Estates. Here are the latest statistics for our neighborhood at the end of November.

Active Properties

Number of Houses Active  Average List Price Average Days On Market
3 $515,000 14.67

At the date this information was pulled on November 30 there were three active properties in Dana Estates with an average list price of $515,000. This is not surprising given the holiday season.

Pending Properties

Number of Houses Pending  Average List Price Average Days On Market
8  $  499,731 35

There were 8 Pending properties at the end of November. The average days on market had risen to almost 35 days. This could be due to aggressive pricing (see the days on market for sold homes) and to financing considerations.

In October the Consumer Financial Protection Bureau (CFPB) implemented new disclosure standards that may have stretched the closing times for purchases. This may be a partial explanation for some of the longer days on market.

 Sold Properties 

Number of  Houses Sold  Average List Price  Average Sale Price Avg. Sale Price/ Avg. List Price Average Days On Market
3  $  446,500  $  449,167 100.6% 8.33

What is most surprising to me is the average time on market for these sold properties 8.33 days. Looking at the graph below, you can see this is a slight dip from previous months.

Average days on market graph

This graph tells me that homes that are priced accurately are selling quickly. Overpricing a home is one of the major mistakes that agents and owners can make with their home.

Looking to 2016

My crystal ball is as cracked as the next guys, so I can only make an educated guess as to what the future holds.

Seller’s Market. I expect that, barring any major act of terrorism or financial crisis, early 2016 will be a seller’s market. The expected Fed rate hike will likely get some buyers off the sidelines for fear of rising mortgage rates.

For Buyers: It is still a great time to buy real estate with interest rates near historic lows. Making sure you are preapproved for a mortgage from a quality lender is imperative.

For Sellers: The peak sales months have been March through June the past few years. Making sure your property hits the market during those months is imperative. It can take some time to adequately prepare your home for sale, in some cases 2-8 weeks.

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Email me to set a time for a complimentary, no obligation, sales consultation. I will help you identify the items that you need to address prior to the sale of your home.

Based on information from the Contra Costa Association of REALTORS® MLS as of 11/30/2015. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

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Filed Under: Dana Estates News, Real Estate Market

About Peter Maclennan

I moved to Dana Estates with my family in 2012. We love the neighborhood. We love that it is relatively quiet, the neighbors are friendly, and the trees that line the street.
If we aren't hanging out at Starbucks or buying a pizza from P-za Pie, you will find us cruising the sidewalks near Lynwood and Beechwood Dr. Feel free to stop me and say hello.

Comments

  1. Jason Wheeler says

    December 15, 2015 at 10:55 pm

    Love the figures and charts you used here. Dana estates is a busy area in Concord. A great and affordable market for the first time buyers out there.

    Lets hope that the FED meeting doesn’t derail the market for the buyers out there.

    Reply

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Meet Peter

I moved to Dana Estates with my family in 2012. We love the neighborhood. We love that it is relatively quiet, the neighbors are friendly, and the trees that line the street.
If we aren't hanging out at Starbucks or buying a pizza from P-za Pie, you will find us cruising the sidewalks near Lynwood and Beechwood Dr. Feel free to stop me and say hello.

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Disclaimer: Information on this site is deemed reliable, but is not verified nor is it guaranteed. Peter Maclennan is a licensed real estate broker in the State of California serving the Dana Estates neighborhood in Concord through Maclennan Investment Group, Inc.. CA DRE # 01801793
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