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What the heck is going on in the Real Estate Market?
The Appraiser’s Appraisal
The City of Antioch (All)
Sold past 1-6 months (n=549) median (med) $620,000 Days on Market (DOM)=19
Sold past 7-12 months (n=724) med $675,000 DOM=9
This suggests a primary (year) change of -8.148%
Sold past 1-3 months (n=267) med $605,000 DOM=27
Sold past 4-6 months (n=282) med $632,500 DOM=16
This suggests a secondary (quarter to quarter) change of -4.384%.
There are 155 current active listings ranging from $199,000 to $1,499,000 with median DOM at 59 days. Range 1 – 228 days.
There are 118 pending listings (in contract) ranging from $189,999 to $1,095,000 with median DOM at 47 days. Range 1 – 189 days.
So, what’s going on? There are no prior observations for the City of Antioch, and this is one of the largest markets we have looked at all at once. We have developed this snapshot for future reference. Currently, there is both primary and secondary decreases. The days on market are drastically up. Antioch is being developed as an outlying market, the outer edge of our theoretical circle perhaps along with Discovery Bay. I am a little hesitant about Discovery Bay as it appears to have a pretty strong demand right now. In addition, we will develop another interior market. I am thinking of using something in Marin County. We use that market and the SF market we looked at Friday, as indicators for the center of our circle. Regardless, in about a month we will compare these markets to some of the immediate East Bay markets to see if we can make some predictions. This is just an academic exercise but may provide us with some interesting possibilities. At the very least, we will get a look at some markets outside of the markets we have seen in the past few months.
Want to know what’s going on in a different market or sub-market? Just ask!
Appraiser legal stuff:
CA OREA License No. AR041451 – JamesForquer.com
Data is from EBRDMLS and includes the City of Antioch (all), all MLS residential listings, effective as of 12/19/2022
#realestate
