Concord Real Estate Insights - June 2024

Welcome to the Monthly Real Estate Insights for Concord, CA, for June 2024. This update provides a comprehensive overview of the current market trends and changes in the real estate landscape for single-family residences. Staying informed about these trends is essential for making well-informed decisions whether you are a home buyer, seller, or real estate professional.


Top Takeaways:

  • Market Index Score: The Market Index score for June 2024 is 72, indicating a strong seller's market.

  • Current Trends: The median list price has increased, while the average days on market have also increased, suggesting some cooling in market activity despite the higher prices.

  • Mortgage Rates: The current 30-year fixed mortgage rate is 6.95%, a decrease from last month’s rate of 7.03%.


Market Overview

Key Metrics

  • Median List Price: $949,975 (up from $886,500 last month)

  • Median Price of New Listings: $872,450 (down from $887,000 last month)

  • Average Days on Market: 37 (up from 26 last month)

  • Median Days on Market: 18 (up from 14 last month)

  • Median Rent: $3,095 (up from $2,995 last month)

  • Market Action Score: 72 (down from 78 last month)

Analysis and Trends

The Concord real estate market continues to favor sellers, with a Market Index score of 72. This strong seller's market is characterized by increasing prices and a slight increase in the time properties spend on the market. Despite these changes, the market remains competitive with substantial buyer interest.

Seller’s Perspective

A Market Index score of 72 is advantageous for sellers. Properties are likely to attract multiple offers and favorable terms. The increase in median list price and the continued strong market action score indicate sustained demand. Sellers can expect strong competition among buyers, which often leads to better offer terms and potentially higher sale prices.

Buyer’s Perspective

For buyers, the Concord market presents challenges typical of a seller's market. However, the slight decrease in mortgage rates to 6.95% offers some financial relief, potentially lowering monthly payments. The increase in average and median days on market provides buyers with a bit more time to make informed decisions, but competition remains high.

Current Market Insights

An interesting fact about the current housing market in Concord is the significant increase in median list price, which has risen to $949,975 from $886,500 last month. This 7% increase highlights the growing demand and willingness of buyers to invest in the market, driven by the desirable location and amenities of Concord.

Another noteworthy trend is the increase in median rent, which has risen to $3,095 from $2,995 last month. This 3% increase indicates a robust rental market, reflecting high demand for rental properties, likely due to high home prices and limited availability, making renting a more attractive option for many residents.

Future Outlook

Looking ahead, the Concord real estate market is expected to remain favorable for sellers. The anticipation of steady interest rates and ongoing high demand suggests that seller strength will continue. Buyers should stay prepared to act swiftly and negotiate effectively, while sellers can expect ongoing strong interest in their properties.


Understanding the dynamics between buyer and seller scores is crucial for making informed decisions. Whether you are looking to buy, sell, or simply keep informed, staying updated with the latest market trends and rates is essential. For personalized advice and assistance, reach out to a Real Estate Professional at Realty One Elite.


Stay Informed, Stay Ahead. Together, let's navigate the ever-changing landscape of the real estate market.



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