Contra Costa Real Estate Market
Begins to Bounce Back - Slowly
Market activity begins to tick up after severe shelter-in-place plunge.
Median home sales prices are up. Interest rates hit new low.
May 2020 Crisis Update
Shelter-in-place caused steep drops in activity across the board in what is typically the busiest selling season of the year. However, though still far below normal levels, activity has been slowly picking up since bottoming out in late March/early April, and will presumably continue to do so with the easing of both shelter-in-place and property-showing rules.
So far, median home prices are up year-over-year, but a fair proportion of the sales behind April median sales prices still reflects offers accepted prior to shelter in place.
Interest rates hit a new historic low in the last week of April.