Here is a snapshot of local Real Estate inventory in Contra Costa and Alameda Counties.

The table represents aggregated values based on MLS data for the specified date.

Home values in East Contra Costa County are being affected by high foreclosure rates. This is affecting median and average list prices for the entire county. The I-680 Corridor continues to weather the downturn in the housing market better than much of the country.

Real estate is always a local business. To get more specific information on local communities request our FREE Real Estate Local Market Details.

San Francisco Bay Area Foreclosure Statistics

East Bay Area - South Bay Area

REOs (bank owned properties) and properties going into pre-foreclosure (NODs) continue to rise across the country, California and the Greater San Francisco Bay Area.

Banks and local real estate agents are reporting multiple offers on bank owned properties throughout the Bay Area. 

In the East Bay, Contra Costa County continues to lead in the number of properties entering foreclosure and being returned to the bank.

In Contra Costa County, the communities of Antioch, Pittsburgh, Oakley, and Brentwood continue to see increasing transaction activity as buyers looking for good deals and investors buy up REOs.

Alameda and Santa Clara Counties show a dip in foreclosures for June.

In San Francisco Count, the foreclosure figures are the lowest in the Bay area - almost a tenth of other Bay Area counties.

This is the time to buy a Bay Area home or to invest in East bay real estate. Convergent downward forces on home prices are most likely at their maximum right now. 

We may see further price erosion in some areas, but increases in interest rates will likely negate any savings realized by a further drop in price.

Additionally, buyer's negotiating power is peaking. Any improvement in any area will begin to erode the buyer's side of the negotiating table.

If you have an interest in foreclosures or bank owned properties in the East Bay communities of Alamo, Antioch, Brentwood, Concord, Danville, Dublin, San Ramon, Pleasanton, or Walnut Creek, CA - contact Craig (925) 984-4910.

The months of inventory for twenty-six communities has dropped by over two months, -15% compared to thirty days ago. 

On November 2nd the average was 12.34 months compared to 14.40 months on October 1st.  The communities with the lowest months of inventory that are experiencing a fairly balanced market, listed  from the lowest up are Moraga, Orinda, Pleasanton, Lafayette, Rossmoor, Fremont, Danville and Walnut Creek. 

The communities with the highest months of inventory that are continuing to experience a strong buyer’s market, listed from the highest down are, Pittsburgh, Brentwood, Oakley, Hayward, San Lorenzo, San Leandro, Concord, & Diablo. 

The communities with the highest and lowest months of inventory are fairly consistent month after month, mainly because the economic factors affecting these communities both good and bad still remain. 

Our local market is comprised of many micro-markets that varies from area to area with significant differences that we haven’t seen in past years.  When someone wants to know how the real estate market is doing they have to be specific to which community they are interested in.  It is the lower priced communities with most having competition from new home construction and with the vast majority of foreclosures have the highest inventories compared to pending sales in the last thirty days.

It is encouraging that the overall months of inventory has dropped.  This could be an indication that the market has bottomed out and is starting to slowly pick up.  Some of the reasons for this may be that interest rates have dropped about a quarter of a percentage point and there is a growing liquidity in the financial markets to fund loans.  Also, buyers may finally be getting the message that the bottom isn’t going to fall out of the market, at least not in most of our market areas as prices have remained fairly stable with some decreases in values. 

The September 2007 statistical report from CCAR covering fourteen communities shows prices for the month of September in homes was actually up 2%, but down 8% in townhouse/condos.  Year to date closed transactions are down only 10% for both homes and townhouses/condos.  This is much lower than for the totals for Contra Costa and Alameda counties.

With the help of over $20,000 in donations from Contra Costa and Alameda County residents and businesses, almost 3000 students are now equipped with school supplies more than sufficient enough for the present school year and next.

Project Ready to Learn, the annual school supplies drive spearheaded by the Contra Costa Times and partners like VESTIA and Tools 4 School, had gotten such a response this time around that they are well on their way to meeting next year’s intended goal.

Brand new backpacks filled with notebooks, pens and other school supplies have been given away to local students throughout the county. Jansport contributed 550 of the new packs.

It’s nice to hear about local businesses and residents pitching in to help ease the blow that families feel from sending their kids to school. There are over 4200 needy children in the region and each pack of supplies being given away has an average value of $94. A little help here and there is a large gesture to For some Bay Area families.

- Joseph Natividad

California Home Sale Price Medians by County and City

Reporting resale single family residences and condos as well as new homes
 % Change is from the same month last year