Consumer confidence is still soaring, and buyers continue to push aside concerns regarding recent financial market volatility, federal tax law changes affecting Bay Area homeowners, and interest rate increases, to fuel strong markets throughout the Tri-Valley area.
In Q1 2018, the Tri-Valley median house sales price of $939,500 was 7.3% above the Q1 2017 price of $875,000, and the tiniest bit above the previous peak reached in Q2 2017 ($937,000). Prices usually increase from Q1 to Q2 as the spring selling season really gets going, so it will be interesting to see what happens next in our market.
Home Values by City
Sales Reported to MLS, 10/1/17 – 4/10/18
Below is a glance at recent house median prices and average dollar per square foot values broken out for Tri-Valley and selected Diablo Valley cities, for sales reported to MLS in the last 6 months or so – basically since autumn sales began to close in early October.
Average Dollar per Square Foot Values
Sales Price to List Price Percentage
Higher percentages of sales price over list price and lower days-on-market figures signify more heated buyer competition for new listings coming on market. By both these metrics, 2018 has gotten off to a stronger start than in recent years.
Average Days on Market
These analyses were made in good faith with data from sources deemed reliable, but may contain errors and are subject to revision. It is not our intent to convince you of a particular position, but to attempt to provide straightforward data and analysis, so you can make your own informed decisions. Median and average statistics are enormous generalities: There are hundreds of different markets in the Bay Area, each with its own unique dynamics. Median prices and average dollar per square foot values can be and often are affected by other factors besides changes in fair market value. Longer term trends are much more meaningful than short-term.