Brentwood Real Estate Insights – December 2024

Rising Home Prices and Rapid Sales Set the Stage for a Competitive Market

Welcome to the December 2024 Brentwood Real Estate Insights, where we break down key market trends, opportunities, and strategies for buyers, sellers, and Real Estate Professionals. As the year winds down, Brentwood's housing market remains dynamic, with rising prices, shortened selling times, and increased sales activity creating a competitive environment.

In this month’s report, we’ll provide actionable takeaways, critical market insights, and buyer and seller scores to help you plan for success in this ever-changing market. This content is designed to enhance your client communications, social media posts, and marketing outreach.

Market Overview

Brentwood, CA, continues to experience robust real estate activity as home prices rise and properties move faster than ever. A combination of growing demand, reduced days on market, and increased sales volume highlights the market’s competitiveness.

Key Data Highlights:

• Median Sale Price: $828,000 (+10.4% YoY)

• Average Home Value: $816,936 (+2.2% YoY)

• Average Days on Market: 25 days (down from 43 last year)

• Sales Volume: 67 homes sold (up from 42 last year)

• Inventory: 196 active listings, with 71 new homes entering the market

Both buyers and sellers have opportunities, though sellers currently hold a clear edge in this fast-moving seller’s market.

Current Market Trends

1. Significant Price Growth

Brentwood's median sale price climbed to $828,000, representing a 10.4% increase year-over-year. This upward trend reflects strong demand and a continued willingness among buyers to pay premium prices for homes in the area.

2. Faster Selling Times

The average days on market fell to just 25 days, down from 43 days last year. Homes are moving quickly as buyers compete for limited inventory.

3. Increased Sales Activity

The number of homes sold rose by 59% year-over-year, with 67 homes sold in October 2024 compared to 42 last year. This surge highlights increased buyer confidence and market engagement.

3 Top Takeaways

1. Rising Prices Present Strong Opportunities for Sellers

• Home values are up 10.4% year-over-year.

• Faster selling times mean homes are moving quickly at near asking prices.

• Sellers can maximize profits by pricing strategically to attract multiple offers.

2. Buyers Face Competition But Have Choices

• Inventory levels (196 active listings) provide options for buyers.

• Increased competition means buyers must act decisively.

• Favorable interest rates present an opportunity for buyers to lock in lower costs.

3. Market Competitiveness Will Continue Into Early 2025

• Homes are receiving multiple offers and selling close to list prices (99.3% sale-to-list ratio).

• Shorter selling times indicate sustained demand, which is expected to persist in early 2025.

Seller and Buyer Scores

Seller Score: 78

Why Sellers Hold the Advantage:

• Strong price appreciation (+10.4%) boosts home values.

• Faster selling periods (25 days) ensure quicker transactions.

• Competitive market conditions lead to multiple offers and advantageous terms for sellers.

Benefits for Sellers:

• Higher sale prices with increased leverage.

• Greater competition among buyers creates favorable contingencies and terms.

• Opportunity to list now and close quickly as buyer demand surges.

Buyer Score: 50

Why Buyers Have a Balanced Opportunity:

• Inventory remains relatively strong with 196 homes available and new listings (71) entering the market.

• Competitive pricing ensures value while inventory lasts.

• Buyers benefit from locking in purchases before prices climb further.

Benefits for Buyers:

• More choices compared to historically low inventory levels.

• Opportunity to negotiate favorable terms on less competitive listings.

• Stable mortgage rates present a chance to secure lower monthly payments.

Trends, Changes, and Future Projections

Price Outlook

Expect continued appreciation in Brentwood’s home values as demand remains high and inventory tightens. Sellers will likely enjoy favorable conditions into early 2025.

Inventory Challenges

While inventory levels (196 homes) are up, sales activity and demand may begin to tighten supply, pushing prices upward. Monitoring new listings will be key for buyers.

Interest Rates

Relatively stable mortgage rates continue to support buyer affordability. However, any upward shifts could slow buyer activity and impact price growth.

Factors Influencing the Market

Economic Conditions

Brentwood’s proximity to the Bay Area employment hubs makes it a sought-after destination for families and professionals. Economic stability and job opportunities in nearby cities drive continued demand.

Regional Demand

With Brentwood offering more affordability compared to neighboring cities like Walnut Creek and San Francisco, demand from buyers priced out of those markets remains strong.

Utilizing This Content

3 Actionable Messages for Real Estate Professionals:

1. “Sellers: Now’s Your Time – Home Prices Are Up 10.4%!
Home values are climbing, and homes are selling in just 25 days. Don’t miss the opportunity to maximize your profit before the new year.

2. “Buyers: Inventory Is Growing, But It’s Moving Fast!”
New listings give buyers more choices, but homes are selling quickly. Act now to secure a great property before prices climb further.

3. “Brentwood Real Estate Is Hot – Let’s Strategize Your Next Move!”
With rising sales activity and growing demand, both buyers and sellers can benefit by acting decisively. Let’s work together to achieve your goals.

The Brentwood housing market in December 2024 is defined by rising home prices, faster sales, and strong buyer demand. Sellers are in a favorable position to secure top offers and close quickly, while buyers still have opportunities thanks to steady inventory levels and competitive interest rates.

As a Real Estate Professional, use these insights to guide your clients effectively and seize opportunities in this fast-paced market. For expert advice and support, connect with Realty One Elite today.

Additional Resources

For further insights into Brentwood's real estate market or for personalized advice, visit our insights page at www.findebhomes.com. Stay informed about mortgage trends with the latest Freddie Mac 30-year rate update.