Christie's Great Estates, Contra Costa County, Contra Costa County Real Estate, Lamorinda, Lamorinda Real Estate, Luxury Real Estate, Market Update, Pacific Union International, Quarterly Report, Real Estate
As we rush headlong into the holidays, let’s take a quick look back at the 3rd quarter with Pac Union’s release of it’s quarterly report. At first glance, all looks rosy for the housing market, with housing prices continuing to trend up throughout the Bay Area. In particular, in Lamorinda, housing prices were up last quarter. With the Fed agreeing to purchase mortgage-backed securities (up to $40 billion per month), it looks like mortgage rates will continue to drop, helping to boost home prices at the same time.
In Contra Costa County, we’ve noticed that there is a return of the bidding war for reasonably priced properties. It appears as though we will see a small spike in properties coming onto the market in the beginning of this quarter, and then the traditional holiday slowdown. For the complete report, click here.