Selling Dana Estates

Homes for Sale in the Dana Estates Neighborhood of Concord

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Where do Millennials Prefer to Live? The Suburbs.

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Would you be surprised to know that millennials prefer suburban living to city living? According to a recent study by the National Association of Home Builders millennials prefer living in the suburbs.

Millenials Home Owner Preference

Where do millennials prefer to live?

  • 66% of millennials prefer the suburbs
  • 24% of millennials prefer to live in rural areas
  • 10% of millennials prefer to live in a city center

Why do millennials prefer the suburbs?

When asked why they prefer the suburbs, 81% of the respondents indicated that they were looking for a home with three bedrooms or more. Homes of this size are difficult to find in the urban core.

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Remodeling Projects That Make Sense

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Are you thinking of a home improvement project? Wondering whether you should attempt the project on your own or enlist the help of a professional? The infographic below might be for you.

The Home Projects Council suggests which home improvement projects the homeowners felt comfortable doing on their own and which they felt the need to hire a pro for.

Infographic showing do-it-yourself projects versus do-it-for-me (professional) projects.
Home Improvement Projects DIY vs. DIFM

As well, Remodeling Magazine does a Cost vs. Value study each year. Based on the 2015 results the following infographic was produced comparing the relative cost of an improvement and the estimated return in additional value that a homeowner receives when the home is sold.

Not surprisingly the projects that improve the “curb appeal” of a home are the projects that seem to net the most value upon sale. Here are the results for the San Francisco Area.

Home Improvements That Pay Off
Home Improvements that Pay Off

If you are thinking of selling your home, it is important that you don’t needless fix items that won’t return value to you as the seller. Speaking with a professional, full-time agent is imperative to get insight into what buyers are looking for.

Dana Estates Market Report – November 2015

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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.

CA Housing Market Graphics

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They say a picture is worth 1,000 words. Well hopefully these graphics below help you make sense of the current real estate market locally and at a statewide level.

Central Contra Costa County Median Home Value

The picture below details the change in the median home value for properties in Central Contra Costa County. The information was pulled from the California Association of Realtors® website. Prices have not yet reached the peak attained in 2006.

Contra Costa County Housing Statistics

Pending Home Sale Index

The CAR.org Pending Home Sale Index shows a year over year increase for California. From this August of last year to August 2015, the number of pending sales has increased. However from July 2015 to August 2015 the number of pending sales decreased statewide by 8.7%.

August Pending Home Sales in California

What This Means

I have been saying this and now I have the proof. The number of homes selling in October, November, and December tend to slow down. I think this is due to school starting and Thanksgiving & Christmas Holidays. Sales begin to ramp up again around the New Year with serious activity in March and April.

For Sellers…

If you are thinking about selling, getting on the market early next year is important! Call 925.385.8798 now to schedule a consultation on what needs to be done to get your home prepped for a successful sale next year.

For Buyers…

Your competition is going to ramp up after the New Year. Beat them to the punch and get out there now. Wouldn’t be great to be in your new home before the holidays? Contact me to get my free Buyer’s Guide.

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Dana Estates Market Report – September 2015

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Homes in Dana Estates
A typical Dana Estates home.

Market activity in the Dana Estates neighborhood has stayed strong. In fact the activity was so strong that it cleared the market of all active listings. (It is a good time to list.) Currently, in October there is one listing active.

The average days on market has crept up for both Pending and Sold homes from our last report in June.

Currently Active Properties
Number of Houses Active  Average List Price Average Days On Market
0 N/A N/A

There were no active properties at the end of September. The market had been cleared of homes for sale. Two properties have come on the market since then, but one is already pending.

Pending Properties
Number of Houses Pending  Average List Price Average Days On Market
8  $  470,343.75 23.8

At the end of September, 8 houses were pending in Dana Estates. The average List Price of those homes was $470,344 and they took an average time of about 24 days to go into contract. The rest of Concord is taking an average of 30 days to go under contract.

 Sold Properties 
Number of  Houses Sold  Average List Price  Average Sale Price Avg. Sale Price/ Avg. List Price Average Days On Market
6  $  484,141.67  $  491,666.67 101.55% 16.2

In September, 6 homes closed escrow. Homes sold for a tad over the list price. The average home took less than 21 days to go into contract.  Meanwhile homes in greater Concord are taking 27 days to go under contract.

We are still experiencing a brisk market. If I can be of any service or answer your real estate questions, please do not hesitate to call me at (925) 385-8798.

Based on information from the Contra Costa Association of REALTORS® MLS as of 10/5/2015. 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.

Dana Estates Market Report – June 2015

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Beechwood Dr., Concord, CA - Dana Estates
Beechwood Dr., Concord in Dana Estates

Here we are in August already, and with it, we have a Dana Estates market update for the month of June.

See below for last month’s Dana Estates market report.

Currently Active Properties
Number of Houses Active Average List Price Average Days On Market
7 $ 558,377.00 41

 

Pending Properties
Number of Houses Pending Average List Price Average Days On Market
9 $ 492,206.00 25

 

Sold Properties
Number of  Houses Sold Average List Price Average Sale Price Avg. Sale Price/ Avg. List Price Average Days On Market
5 $ 486,567.60 $ 501,400.00 103.05% 12

Similarly to the month of May, several houses were sold last month, well above their list prices. The demand for houses is high in this area and as you can see, home-sellers are receiving well over asking price for their home.

As you also see, the sale period for homes in this neighborhood is short (now under two weeks!), so do not hesitate to give us a call if you are considering buying or selling your home!

Based on information from the Contra Costa Association of REALTORS® MLS as of 8/5/2015. 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.

Dana Estates Market Report – May 2015

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Here is the May 2015 Market Summary for the Dana Estates Neighborhood. We’d like to keep residents and potential buyers/sellers in the loop with the recent real estate market.

See below for a market report of Dana Estates in May 2015.

Currently Active Properties*
Number of Houses Active Average List Price Average Days On Market
7 $ 499,679 23
Pending Properties*
Number of Houses Pending Average List Price Average Days On Market
2 $ 512,450 11
Sold Properties
Number of                Houses Sold Average List Price Average Sale Price  Avg. Sale Price/ Avg. List Price Average Days On Market
2 $ 564,444 $ 577,500 102.31% 17.5

As you can see, a number of houses in this area have been purchased or are currently being considered for purchase by investors and home buyers. Of those properties that have closed their sales this month, the sale price has been considerably higher than the list price, which shows a high demand for property in this area.

In addition, the average time that these houses are on the market is short–just over two weeks–so if you are considering buying or selling your home, contact The Maclennan Team as soon as possible so that you can take the next steps in buying your house before it’s too late!

*As of 6/29/2015

January Real Estate Market Infographic

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January 2015 Housing Market Sales

The California Associaiton of Realtors® provided the latest infographic on what the market experienced in January of 2015. The San Francisco Bay Area led the state with a median single family home price of $669,590 for the month of January. Meanwhile the number of sales in the San Francisco Area fell by 14.2% year over year.

Right now the market is tight as inventory is low. Home buyers are coming off of the fence because of low interest rates. As well, lower oil and gas prices in January and February provided a bit of breathing room in many budgets. This is inspiring renters to move towards home ownership.

In a survey conducted by Freddie Mac on Home Ownership and Rental Perceptions renters held a very high view of home ownership. In fact, 91% of those surveyed said that owning a home was something to be proud of.Renters' View on Home Ownership

Buyers are coming off of the sidelines and inventory is down.

December 2014 Inventory

All this means that for the foreseeable future, Sellers are in the driver’s seat.

 

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