Statistical Tables | It's All About Labor

Home Prices Mixed, Sales Down Year-Over-Year

The median sales price for single-family, re-sale homes was up 1.2% year-over-year. It was down 1.2% from July.

The average sales price of single-family, re-sale homes fell 3.1% year-over-year. It was down 0.6% from July.

Sales of single-family, re-sale homes were down 6.8% year-over-year. There were 653 homes sold last month. The average monthly sales since 2005 is 907.

The sales price to list price ratio for homes fell to 99.8% from 100.5%.

Days on market, or how long it takes to go from being listed to being under contract, was thirty-three days.

The median sales price for condos was up 14.9% from July, and it was up 6.4% year-over-year. The average sales price was up 7% year-over-year.

Condo sales were down 6.1% from July, and they were down 20.4% year-over-year. There were 168 condo sales last month.

The sales price to list price ratio for condos stayed at 99.5%.

Days on market, or how long it takes to go from being listed to being under contract, was thirty-five days for condos. 

Momentum Statistics

Sales momentum…
for single-family homes fell 1.1 points to +0.

Pricing momentum…
for single-family homes rose 0.1 of a point to +0.2.

Our momentum statistics are based on 12-month moving averages to eliminate monthly and seasonal variations.

This is an extraordinarily tough market for buyers. It's important to be calm and realistic. If you don't know what to do or where to begin, give me a call and let's discuss your situation and your options.

If you’re looking to sell, call me for a comprehensive Comparative Market Analysis.

Our momentum statistics are based on 12-month moving averages to eliminate monthly and seasonal variations.

We calculate…

momentum by using a 12-month moving average to eliminate seasonality. By comparing this year's 12-month moving average to last year's, we get a percentage showing market momentum.  

In the chart below…

the blue area shows momentum for home sales while the red line shows momentum for pending sales of single-family, re-sale homes. The purple line shows momentum for the average price.

As you can see, pricing momentum has an inverse relationship to sales momentum.

Remember, the real estate market is a matter of neighborhoods and houses. No two are the same. For complete information on a particular neighborhood or property, call me.

P.S. The FHA requires all condo projects to be re-certified before they will make a loan. To find out if the condo project you're interested in is eligible, go here: https://entp.hud.gov/idapp/html/condlook.cfm.

The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or property, call me.

If I can help you devise a strategy, call or click the buying or selling link in the menu to the left.

Monthly Statistics

Complete monthly sales statistics for Contra Costa County are below. Monthly graphs are available for each city in the county.

August Sales Statistics
(Single-family Homes)
	Prices		Units			Change from last year			Change from last month
	Median	Average	Sold	DOM	SP/LP	Median	Average	Sold	Median	Average	Sold
County	$845,000	$1,134,856	653	33	99.8%	1.2%	-3.1%	-6.8%	-1.2%	-0.6%	-2.7%
Alamo	$2,425,000	$2,538,184	19	26	99.3%	1.0%	-10.2%	72.7%	-23.0%	-12.8%	46.2%
Antioch	$612,500	$607,233	76	35	100.7%	-4.3%	-4.8%	-24.8%	6.5%	3.9%	22.6%
Bay Point	$555,000	$538,500	8	25	98.9%	-12.6%	-16.4%	33.3%	3.1%	1.4%	-33.3%
Blackhawk	$2,225,000	$2,225,000	1	7	111.3%	53.4%	27.7%	-90.9%	29.7%	21.9%	-90.9%
Brentwood	$765,000	$845,585	45	47	97.8%	-7.3%	-3.9%	-28.6%	-5.8%	2.4%	-27.4%
Clayton	$1,100,000	$1,081,000	9	44	97.4%	-2.2%	-8.6%	12.5%	-13.6%	-16.4%	12.5%
Concord	$845,000	$900,140	56	28	100.7%	1.8%	-0.2%	-5.1%	4.0%	4.4%	-17.6%
Danville	$2,100,000	$2,302,539	39	21	98.6%	-1.1%	-12.7%	-15.2%	-2.4%	5.8%	8.3%
Discovery Bay	$775,000	$884,504	17	65	99.2%	-9.9%	-0.3%	-10.5%	-11.9%	0.3%	-10.5%
El Cerrito	$1,405,000	$1,329,631	9	23	119.0%	13.7%	13.7%	-47.1%	-8.5%	-55.0%	-55.0%
El Sobrante	$697,450	$750,650	16	31	103.4%	-7.0%	-10.2%	77.8%	0.4%	-0.6%	166.7%
Hercules	$815,000	$859,800	5	40	100.7%	-10.4%	-5.1%	-54.5%	5.8%	7.5%	-66.7%
Kensington	$1,475,000	$1,475,000	2	23	115.2%	-13.5%	-13.5%	100.0%	-5.8%	-5.8%	-33.3%
Lafayette	$1,800,000	$1,948,967	27	35	100.3%	5.8%	-14.1%	28.6%	-17.7%	-20.2%	22.7%
Martinez	$823,500	$986,011	28	24	99.0%	9.4%	24.4%	-6.7%	11.7%	28.2%	-22.2%
Moraga	$1,622,500	$1,620,333	6	47	99.3%	-9.6%	-19.7%	-60.0%	-3.1%	-13.9%	-57.1%
Oakley	$640,000	$661,972	49	39	100.8%	-11.7%	-6.8%	75.0%	-12.4%	-13.8%	63.3%
Orinda	$1,550,000	$1,882,343	17	41	99.9%	-11.4%	-0.7%	-32.0%	-14.2%	-4.1%	-22.7%
Pinole	$670,000	$749,000	10	37	99.1%	-13.0%	-4.5%	-23.1%	-5.6%	8.1%	11.1%
Pittsburg	$599,000	$624,286	29	29	100.0%	2.4%	6.1%	3.6%	1.5%	3.0%	7.4%
Pleasant Hill	$1,052,500	$1,087,655	20	35	98.6%	-0.7%	-7.1%	-4.8%	-7.7%	-1.8%	-20.0%
Richmond	$667,500	$708,663	48	37	103.0%	4.1%	10.3%	-7.7%	2.7%	3.6%	-7.7%
Rodeo	$695,000	$695,000	2	10	103.1%	1.5%	9.0%	-50.0%	37.6%	32.1%	-50.0%
San Ramon	$1,750,700	$1,801,234	41	18	98.8%	-0.8%	-2.7%	-6.8%	0.9%	-1.5%	7.9%
Walnut Creek	$1,575,000	$1,625,810	50	30	98.0%	1.8%	-6.7%	25.0%	4.3%	4.0%	19.0%

August Sales Statistics
(Condos/Townhomes)
	Prices		Units			Change from last year			Change from last month
	Median	Average	Sold	DOM	SP/LP	Median	Average	Sold	Median	Average	Sold
County	$649,000	$720,608	168	35	99.5%	6.4%	7.0%	-20.4%	14.9%	7.4%	-6.1%
Antioch	$317,500	$318,000	4	22	103.0%	-15.3%	-14.7%	-50.0%	-13.0%	-4.9%	-33.3%
Concord	$404,950	$450,611	22	40	99.1%	-7.8%	1.5%	-24.1%	0.7%	9.3%	-35.3%
Danville	$990,000	$1,085,067	15	20	99.6%	-18.1%	-3.7%	7.1%	-15.7%	-3.9%	36.4%
Hercules	$560,000	$567,000	5	22	100.5%	-2.8%	2.5%	-37.5%	0.0%	0.3%	-37.5%
Martinez	$650,000	$639,543	9	34	100.6%	28.2%	17.3%	0.0%	4.0%	12.2%	80.0%
Moraga	$950,000	$999,000	5	47	101.1%	-8.9%	4.0%	-37.5%	17.5%	24.8%	-50.0%
Pleasant Hill	$617,000	$594,889	9	19	99.1%	-13.4%	-17.5%	125.0%	12.4%	8.4%	800.0%
Richmond	$480,000	$535,364	11	25	99.9%	-4.0%	-4.6%	0.0%	9.0%	12.5%	-8.3%
San Pablo	$488,000	$394,333	3	42	94.5%	-0.1%	-22.0%	-25.0%	8.0%	-17.2%	-50.0%
San Ramon	$964,000	$940,985	20	45	97.7%	16.1%	2.3%	5.3%	14.4%	3.1%	17.6%
Walnut Creek	$742,000	$779,033	50	35	99.9%	19.9%	15.9%	-35.1%	2.3%	-7.1%	6.4%

It's All About Labor

August 29, 2025 -- Home sales will soon be closing a soggy summer, but we'll have to wait another month to see how August turned out. We already know that existing home sales have been muted, and this week we learned that sales of new homes in July were also pretty modest. Although June's sales figure was revised higher to a 656,000 annual rate, it doesn't much change the picture of a lumbering market for new homes; for July, sales of new homes edged 0.6% lower, slipping to a 652,000 annual pace. While the supply of new homes available to buy did decline a little bit, easing by 3,000 to a 499,000 annualized level, the 9.2 months of supply at the present rate of sale is more than ample. New home prices continue to be very competitive with existing stock; July's $403,800 was 0.8% below June's median sales price, and is 5.9% below the median cost of a new home last July. By contrast, the median price of an existing home sold in July was $422,400.

Existing home prices may be poised to have somewhat larger and more widespread seasonal price declines this year, something we detail and discuss in the analysis portion of our quarterly Home Affordability Study. Whether that will be enough to help bring more buyers into the market isn't certain; lower mortgage rates will be required to help that occur. At least in July, there were fewer buyers of existing home in the market, as the Pending Home Sales Index from the National Association of Realtors found a 0.4% decrease in the number of signed contracts to purchase homes. The PHSI leads closed sales numbers by about two months, and based upon the last two months of declines, it is hard to expect to see much improvement in existing home sales to close the summer.

But there are of course at least some sales happening. The Mortgage Bankers Association reported a 0.5% overall decrease in requests for mortgages in the week ending August 22, but that decline all came from the refinancing side of the market, with calls for funds to refinance existing loans dropping by 3.5%. Applications for purchase-money mortgages ticked 2.2% higher for the week, and in fact have managed to post a positive figure in each of the last four weeks. Slightly lower mortgage rates during that time have helped support homebuyers to at least a modest degree.

As much as we'd like to see lower interest rates and especially lower mortgage rates, we'd rather not see the kind of increasing economic misery that makes them necessary. As we've remarked before, if you don't have a job, it really doesn't matter how low mortgage rates are, since you can't qualify for one to buy a home or refinance, regardless of how attractive the rate may be.

A long weekend with the Labor Day holiday leaves mortgage rates poised to do little. That's not uncommon to start September; it's typically the first full week of the month (8th-12th this year) when things begin to move more quickly, and we'd expect to see more action then, especially this year. For the next week at least, we think that the average offered rate for a conforming 30-year fixed rate mortgage as reported by Freddie Mac may wobble a little, managing to be unchanged or perhaps posting as much as a two basis point decline. We'll see what comes next Thursday.

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