Martinez Real Estate Insights - June 2024

Welcome to the Monthly Real Estate Insights for Martinez, 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 65, indicating a strong seller's market.

  • Current Trends: The median list price has decreased slightly, while the average days on market have increased, suggesting a potential cooling in market activity.

  • 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: $799,000 (down from $818,000 last month)

  • Median Price of New Listings: $725,000 (down from $798,000 last month)

  • Average Days on Market: 51 (up from 36 last month)

  • Median Days on Market: 28 (up from 7 last month)

  • Median Rent: $3,495 (up from $2,850 last month)

  • Market Action Score: 65 (down from 68 last month)

Analysis and Trends

The Martinez real estate market continues to favor sellers, with a Market Index score of 65. This strong seller's market is characterized by steady pricing and relatively quick sales, although the increase in average days on market indicates a slight slowdown in activity. Despite these changes, the market remains robust with substantial buyer interest.

Seller’s Perspective

A Market Index score of 65 is advantageous for sellers. Properties are likely to attract multiple offers and favorable terms. The decrease in the median list price and the median price of new listings suggests that sellers are adjusting their pricing strategies to remain competitive. 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 Martinez 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 Martinez is the significant increase in median rent, which has risen to $3,495 from $2,850 last month. This 23% increase highlights the growing demand for rental properties, likely driven by high home prices and limited availability, making renting a more attractive option for many residents.

Another noteworthy trend is the substantial difference between the median list price and the median price of new listings. This gap indicates a possible shift in the types of properties coming onto the market, with newer listings being priced more competitively to attract buyers quickly.

Future Outlook

Looking ahead, the Martinez 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.

The Martinez real estate market in June 2024 continues to be a strong seller's market with competitive dynamics and slight adjustments in pricing and days on market. Understanding these trends and the implications of the Market Index score can help all parties make better decisions. If you have any questions or need further assistance, please feel free to reach out. Your local real estate professional is here to help guide you through these times with expert advice and support.


This report serves as a comprehensive guide for anyone engaged in the Martinez real estate market. We encourage all readers to stay informed and reach out with any questions or for further assistance. Your preparedness and knowledge are key to navigating this market effectively.

For personalized advice and guidance, reaching out to a Real Estate Professional at Realty One Elite can provide you with the expertise you need to navigate this dynamic market.



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