Antioch Real Estate Insights - December 2024

Key Market Trends, Buyer & Seller Scores, and Opportunities

Welcome to the Antioch Real Estate Insights – December 2024 report, your trusted guide to understanding the latest real estate trends, buyer and seller scores, and key opportunities in today’s market.

This month’s report reveals that price volatility, extended selling times, and stable inventory have created a more balanced market. Sellers still benefit from strong competition, while buyers can leverage negotiation power on select properties.

Whether you’re advising clients on listing a home or guiding buyers to seize value-driven opportunities, these insights will help you succeed in the current market.

Market Overview

The Antioch real estate market continues to evolve as 2024 draws to a close. Declining median home prices, longer days on market, and consistent competition indicate a transitional market where both buyers and sellers can benefit strategically.

Key Metrics at a Glance:

  • Median Sale Price: $590,000 (-5.6% YoY)

  • Average Home Value: $615,680 (+1.2% YoY)

  • Median Price Per Square Foot: $352 (+7.0% YoY)

  • Days on Market: 20 days (up from 17 last year)

  • Sales Volume: 91 homes sold (slightly down from 93 YoY)

  • Sale-to-List Price Ratio: 101.8% (+0.2 points YoY)

This data paints a picture of a market that remains competitive but is slowly tilting toward balance.

Current Market Trends

1. Declining Median Prices

  • Redfin reports a 5.6% drop in median sale prices, reaching $590,000.

  • Zillow counters with a 1.2% gain in average home value, highlighting price variability based on home condition and location.

The decline reflects seller flexibility in response to cautious buyers and increased competition.

2. Extended Days on Market

  • Homes are now averaging 20 days on market, compared to 17 days last year.

  • Realtor.com data reveals a longer average of 36 days, indicating slower decision-making among buyers.

3. Stable Inventory Levels

  • Redfin reports 91 homes sold in October, a slight dip from 93 last year.

  • Zillow shows 268 homes for sale with 109 new listings, suggesting steady inventory levels.

Buyers benefit from consistent options, while sellers must remain competitive to drive offers.

Buyer and Seller Scores

Seller Score: 62

  • Why It’s Favorable:

    • Homes are selling above list price with a sale-to-list ratio of 101.8%.

    • On average, homes receive 4 competitive offers.

    • Antioch remains an attractive market for value-driven Bay Area buyers.

Seller Advantages:

  • Competitive Offers: Buyers remain active despite price fluctuations.

  • Solid Demand: Sellers can leverage multiple offers to secure better terms.

  • Timing Opportunity: Sellers who act now can capitalize before further market softening in early 2025.

Buyer Score: 58

  • Why It’s Balanced:

    • Homes are staying on the market longer, creating room for negotiations.

    • Price adjustments give buyers opportunities to secure properties at lower values.

Buyer Advantages:

  • Negotiation Power: Longer days on market favor buyers, particularly on properties priced aggressively.

  • Inventory Options: With over 109 new listings, buyers have a variety of choices.

  • Financing Advantage: Favorable interest rates preserve purchasing power.

3 Top Takeaways

1. Sellers Can Still Achieve Strong Offers

While prices are softening, demand remains steady. Homes that are competitively priced and well-presented can secure above-list price offers.

2. Buyers Should Act Now to Negotiate Better Terms

Extended days on market provide opportunities for buyers to negotiate contingencies, price reductions, and favorable terms.

3. Inventory Stability Supports a Balanced Market

With consistent inventory and buyer activity, Antioch remains a market of opportunity for both sides.

Future Projections

Price Outlook

Antioch’s prices are likely to remain volatile through early 2025, with slight declines anticipated in response to market caution. Sellers must price strategically to attract competitive offers.

Inventory Forecast

Inventory is expected to remain steady, with the potential for tightening if new listings slow in Q1 2025.

Interest Rate Impact

Stable interest rates currently support buyer demand. However, any increases in early 2025 may lead to reduced affordability, influencing pricing trends.

Utilizing This Content

Here are 3 actionable messages real estate professionals can use in their marketing:

1. “Sellers: Competitive Pricing Leads to Quick Offers!”

Despite price softening, Antioch homes are receiving multiple offers and selling above list price. Let’s price your home to drive demand quickly.

2. “Buyers: Negotiate with Confidence on Longer Listings!”

Homes staying on the market longer mean buyers have the upper hand. Now’s the time to negotiate for better pricing and terms.

3. “Antioch’s Market is Balanced – Act Now Before it Shifts!”

Inventory stability and longer selling times mean opportunities exist for buyers and sellers alike. Let’s build a strategy that works for you.

The Antioch real estate market in December 2024 presents a mix of opportunities for both buyers and sellers. Declining median prices, longer days on market, and steady demand reflect a market shifting toward balance.

For real estate professionals, staying informed and strategic is critical to guiding clients effectively. Whether you’re helping a seller achieve top dollar or assisting buyers with negotiations, understanding these trends creates value.

For expert insights and tailored strategies, connect with Realty One Elite—your trusted partner in navigating the Antioch market.

Contact Us Today to Learn More

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