Sherry and I track real estate trends across our 10 primary service areas (Alamo, Clayton, Concord, Danville, Lafayette, Martinez, Moraga, Pleasant Hill, Orinda, and Walnut Creek). We usually focus on single-family homes (SFH), but that market has remained stagnant for nearly four years since interest rates rose post-COVID.
The condo and townhome market, however, is telling a different story. These properties—especially at the entry level—are often leading indicators of broader market shifts. A sort of “canary in the coalmine” for real estate. Sales volume for condos dropped 11% in the first half of the year (5% in Q2). Interestingly, the average price has risen, largely because the entry-level segment is struggling. This is driven by pressure on entry-level buyers, who are squeezed by rising costs for gas, groceries, and insurance, alongside increasing HOA dues. For many, this affordability gap—combined with overall market instability—is pushing them to pause their home-buying plans entirely.
Reach out to us if you think you are in this market space and would like to talk about your possibilities.
