After falling for five years in a row, home sales rose in 2009 by 3.2%, helped along by a spate of bank-owned properties. Home sales accelerated during the last six months of the year as bargain hunters snapped up bank-owned properties.
In other positive signs, pending sales were up for the last six months of the year, compared to the year before. Which begs the question, then why weren't home sales up more than five months? Well, that's because many of these escrows fell out on low appraisals and buyers having difficulty obtaining loans. We hope to see the loan situation ease this year, but with the securitized mortgage market dead, dead, dead, banks are having to keep mortgage loans on their books, so they're being very picky about whom they lend to.
The best bet for loans right now is FHA because the Feds are buying their mortgages hoping to inject some capital into the system.
The median price for single-family homes in Contra Costa County fell for the second year in a row, dropping 12.1%. The average price fell 14.7%.
The median price for condos dropped 21.9%. Condo sales were up 8.6%.
| Contra Costa County | ||||||||
| (Single Family Homes) | ||||||||
| Average | Median | Units | Percent Change | |||||
| Price | Price | Sold | DOM | SP/LP | Average | Median | Sold | |
| 1998 | $362,199 | $314,900 | 7,859 | 54 | 97.4% | |||
| 1999 | $422,561 | $370,000 | 7,242 | 28 | 97.8% | 16.7% | 17.5% | -7.9% |
| 2000 | $534,948 | $455,000 | 6,529 | 20 | 99.7% | 26.6% | 23.0% | -9.8% |
| 2001 | $555,372 | $486,000 | 5,180 | 25 | 96.7% | 3.8% | 6.8% | -20.7% |
| 2002 | $618,710 | $550,000 | 6,238 | 22 | 98.2% | 11.4% | 13.2% | 20.4% |
| 2003 | $668,272 | $590,000 | 6,364 | 31 | 98.4% | 8.0% | 7.3% | 2.0% |
| 2004 | $754,981 | $667,000 | 5,085 | 22 | 100.4% | 13.0% | 13.1% | -20.1% |
| 2005 | $882,108 | $780,000 | 4,301 | 21 | 101.4% | 16.8% | 16.9% | -15.4% |
| 2006 | $918,770 | $790,500 | 4,146 | 23 | 98.5% | 4.2% | 1.3% | -3.6% |
| 2007 | $948,063 | $835,000 | 3,663 | 41 | 97.8% | 3.2% | 5.6% | -11.6% |
| 2008 | $749,358 | $659,475 | 3,557 | 65 | 96.7% | -21.0% | -21.0% | -2.9% |
| 2009 | $639,056 | $580,000 | 3,671 | 66 | 96.8% | -14.7% | -12.1% | 3.2% |
The charts below have the average price in the thousands.
| Contra Costa County | ||||||||
| (Condos/Town Homes) | ||||||||
| Average | Median | Units | Percent Change | |||||
| Price | Price | Sold | DOM | SP/LP | Average | Median | Sold | |
| 1998 | $173,453 | $158,250 | 2,590 | 45 | 97.9% | |||
| 1999 | $187,017 | $159,000 | 3,765 | 21 | 99.0% | 7.8% | 0.5% | 45.4% |
| 2000 | $225,912 | $200,000 | 3,737 | 35 | 100.7% | 20.8% | 25.8% | -0.7% |
| 2001 | $259,205 | $235,000 | 3,189 | 25 | 99.3% | 14.7% | 17.5% | -14.7% |
| 2002 | $288,021 | $265,000 | 3,674 | 27 | 99.2% | 11.1% | 12.8% | 15.2% |
| 2003 | $312,236 | $292,500 | 3,944 | 28 | 99.3% | 8.4% | 10.4% | 7.3% |
| 2004 | $353,768 | $329,500 | 3,395 | 21 | 101.0% | 13.3% | 12.6% | -13.9% |
| 2005 | $447,585 | $411,975 | 2,850 | 18 | 101.8% | 26.5% | 25.0% | -16.1% |
| 2006 | $451,205 | $416,000 | 2,498 | 31 | 99.2% | 0.8% | 1.0% | -12.4% |
| 2007 | $450,646 | $430,000 | 1,678 | 53 | 97.9% | -0.1% | 3.4% | -32.8% |
| 2008 | $347,608 | $320,000 | 1,588 | 79 | 96.3% | -22.9% | -25.6% | -5.4% |
| 2009 | $283,103 | $250,000 | 1,724 | 71 | 97.8% | -18.6% | -21.9% | 8.6% |
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