Mid-February East Bay Housing Market Report

Inventory continues to be tight and as of today there is an average of  1.64 months of inventory now compared to 1.91 on 12/31/09 for the twenty-seven communities measured, a 15% decrease.

Eight communities increased and nineteen decreased with active listings  up 16% and pending sales up 35%.  Last year on 1/31/09 there were 5.81 months of inventory and on 2/28/09 there were 5.37 months of inventory.

With the historically low interest rates of around 5.0%, value pricing, and the government incentives for first time buyers and repeat buyers that end April 31th are most likely the main factors driving the market.

Foreclosures and Short Sales are still an important part of the market in the lower priced communities and the inland communities, but they are less of a factor than they were in previous months.  The uncertainty of how many Foreclosures and Short Sales will still be coming un the market compared to last year is also a factor buyer’s are taking into consideration.

Apparently there is still a substantial number distressed properties that will be coming on the market in future months. Now is certainly an excellent time to purchase real estate because of the information listed above.  Interest rates most likely will be trending up in future months so now is the time for your buyers to lock in a low interest rate thirty-year loan.

Search the MLS for Homes for Sale

Search for Foreclosures in Contra Costa County East

Search for Foreclosures I-680 Corridor

Our FREE In-Depth Real Estate Market Reports updated weekly, break real estate data down by zip code and price point. These are the best “real time” sources of data you can get for your local market.

Email John if you would like to know more about buying or selling a home or condo in California’s East Bay or call (925) 895-2694