SOLD 4022 Tulip Way

2016 East Bay Real Estate – The Year in Review

SOLD 4022 Tulip Way2016 Contra Costa Real Estate – Another Active Year

I’m sure most homeowners in the San Francisco East Bay are well aware that 2016 was yet another very active year for real estate sales. Homes that were professionally prepared for sale, appropriately priced and effectively marketed continued to sell quickly and multiple offers were not uncommon for really desirable properties. In Contra Costa County, all this was particularly true for homes in Danville, San Ramon, Alamo and Walnut Creek.

But what about specifics? How much did your Contra Costa home appreciate in value last year? To get a good approximation, take a look at the chart below. This shows the median sale price of homes in my primary service areas in 2016 compared with 2015.

2016 East Bay Sales Chart

There appears to be a couple of anomalies in these figures, in particular concerning condominium sales. Alamo and Blackhawk have a very small number of condo sales in 2016 so one could argue that the volume of data was insufficient to provide a realistic picture.

While it is apparent that we are no longer experiencing double-digit increases, it can be seen that homes in most areas were still increasing in value in 2016 and most economists agree that this is likely to continue in 2017. The rate of increase is likely to slow though, simply because earnings are still lagging too far behind home prices.

What About The East Bay Real Estate Market in 2017?

Based on my experiences in the past month or two, there is still plenty of demand for homes in most areas, particularly in the under $1m price range. I have personal experience of multiple offers in December in San Ramon and Pleasanton, plus I am aware of a number of similar situations in Danville and San Ramon. These were all very desirable homes though, prepared, priced and marketed appropriately.

If you would like a more detailed breakdown of any of the above figures or if you would like to know what your home is worth right now, please contact me any time on (925) 997-1585 or send me an email to bernard@bernardgibbons.com.

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