It’s going to be a while for a Contra Costa Housing rebound

It’s going to be a while for a Contra Costa Housing rebound

contra costa foreclosure chartsAs I described in one of my last blog posts, Contra Costa continues to be one of the hardest hit counties in the Bay Area, in fact, the entire state of California.  We’ve seen median price drops from the peak of a low of 36% to a high of 70%.  That is astonishing to think, isn’t it?   The distressed home market continues to drive many areas of our Central and East Contra Costa housing markets, though we are seeing a bit more of a push by some banks to short sale, vs. a foreclosure.

Here is some historical information on foreclosures and defaults from Foreclosure Radar:

Contra Costa foreclosure filings over the last 3 years have been declining:
CA Filings

Contra Costa foreclosure inventories have also seen drops over the last 3 years:
Contra Costa Foreclosure Inventory

The Contra Costa Times, using data from Zillow also put together a nice map of the Bay Area median pricing changes.  The interactive map does show that some areas of the Peninsula are almost back to pre-peak pricing, while Contra Costa remains with some significant drops from the peak.Walnut Creek down 34 – 35% (depending on zip code)
Clayton down 43.4%
Concord down up to almost 50% (again, depending on zip code)
Pleasant Hill down 43.9%

The biggest drops are in East County, no surprise there:
Antioch down 64 – 67% (94509 and 94531 respectively)
Brentwood down 55%
Pittsburg down 69%

Check out the rest of the Times article here.

By |2012-04-15T18:25:09+00:00April 15th, 2012|Featured Posts, Foreclosure, Market News|0 Comments

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Catherine Myers is a licensed real estate broker located in Walnut Creek, CA. Catherine has been serving the real estate needs of buyers, sellers and investors of the Contra Costa area since 2002. Catherine has always had an entrepreneurial hard working spirit and real estate allows the convergence of her love of helping people and the pragmatic approach of seeing dreams realized.

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