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You are here: Home / Dana Estates News / House Prices: Simply a Matter of Supply & Demand

House Prices: Simply a Matter of Supply & Demand

April 9, 2018 by Peter Maclennan Leave a Comment

Home Prices Low Inventory

As the largest city in Contra Costa County, there are many Concord homes for sale, particularly in the zip code 94519. Concord offers accessibility and a measure of affordability when compared to its pricier neighbors of Pleasant Hill, Walnut Creek, and Clayton.

Neighborhoods within the 94519 zip code include:

  • Dana Estates
  • Monte Gardens
  • Holbrook Heights
  • Wren Avenue
  • El Monte
  • San Vincente

These Concord neighborhoods offer proximity to Todos Santos Plaza and the downtown Concord BART station. As well, they provide access via Willow Pass Rd. to Highway 4.

Today, let’s talk about: House Prices: Simply a Matter of Supply & Demand

Why are home prices still rising? It is a simple answer. There are more purchasers in the market right now than there are available homes for them to buy. This is an example of the theory of “supply and demand” which is defined as:

“the amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price.”

When demand exceeds supply, prices go up. This is currently happening in the residential real estate market.

Here are the numbers for supply and demand as compared to last year for the last three months (March numbers are not yet available):

House Prices: Simply a Matter of Supply & Demand | Simplifying The Market

In each of the last three months, demand (buyer traffic) has increased as compared to last year while supply (number of available listings) has decreased. If this situation persists, home values will continue to increase.

Bottom Line

The reason home prices are still rising is because there are many purchasers looking to buy, but very few homeowners ready to sell. This imbalance is the reason prices will remain on the uptick.

Source… KCM Peter Maclennan Blog

Having a knowledgeable and experienced real estate broker on your side helps protect your interests and insure you make the best possible decisions. We are dedicated to keeping on top of the real estate market and keeping you informed of changes. You can rest easily knowing you made a well-informed decision based on experience and insight into the Concord California market.

To reach us please call 925.385.8798 or email us at peter@maclennaninvestments.com.

Search for the newest homes for sale in Concord, CA by map (click the map below):

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Filed Under: Dana Estates News, Real Estate Market Tagged With: Concord Real Estate, Dana Estates Real Estate, Homes For Sale Concord, Real Estate News

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.

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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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