Fairfield Real Estate Insights - December 2024

Navigating Price Adjustments, Buyer Opportunities, and Seller Advantages

Welcome to the December 2024 Antioch Real Estate Insights, your trusted monthly market update designed to help real estate professionals and their clients make well-informed decisions. With shifting prices, consistent demand, and evolving trends, understanding Antioch’s current real estate landscape is key for both buyers and sellers.

This report dives deep into current market conditions, emerging trends, and actionable takeaways that you can use to plan your next move or share valuable insights with your network.

Market Overview

Antioch’s real estate market in December 2024 reflects a mix of price adjustments and continued competition. Key highlights include:

  • Median Sale Price: $590,000 (a 5.6% decrease 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 days YoY)

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

  • Sale-to-List Price Ratio: 101.8% (homes selling slightly above asking price)

These figures show a market where sellers retain an advantage, yet buyers can leverage opportunities created by price dips and steady inventory levels.

Current Market Trends

1. Modest Price Adjustments

The median sale price in Antioch decreased by 5.6% YoY to $590,000. This decline reflects shifting affordability concerns and potential buyer caution in response to economic conditions.

2. Rising Price Per Square Foot

The price per square foot climbed 7.0% YoY, now at $352. This growth signals sustained demand for homes with strong value propositions, particularly mid-priced homes with desirable features.

3. Slight Increase in Days on Market

Homes are selling in 20 days on average, compared to 17 days last year. While homes are taking slightly longer to sell, demand remains high, with multiple offers still being common.

4. Sales Volume Holds Steady

With 91 homes sold in October 2024 (compared to 93 last year), Antioch’s market demonstrates consistent buyer interest and stable inventory.

3 Top Takeaways

1. Buyers Have Opportunities Amid Price Adjustments

  • The 5.6% drop in median sale prices improves affordability for buyers.

  • More properties staying on the market longer creates opportunities for negotiation.

2. Sellers Retain an Edge

  • Homes are still selling for above list price (101.8%).

  • Demand remains high, with multiple offers creating favorable terms for sellers.

3. Competition Is Steady Across the Market

  • Antioch continues to attract buyers, particularly for mid-priced homes.

  • Inventory remains balanced, giving buyers choices while maintaining leverage for sellers.

Seller and Buyer Scores

Seller Score: 68

Why Sellers Still Have Leverage:

  • Homes are selling above list price, reflecting strong demand.

  • Average days on market remain low at 20 days, showing properties are moving quickly.

  • Competition among buyers ensures sellers can negotiate favorable contingencies and terms.

Advantages for Sellers:

  • Higher Offers: Multiple-offer scenarios often drive prices above asking.

  • Quick Sales: Shorter selling periods reduce carrying costs and uncertainties.

  • Favorable Terms: Sellers can require fewer contingencies or faster closings.

Buyer Score: 58

Why Buyers Have Opportunities:

  • Price adjustments (-5.6%) improve affordability, particularly for budget-conscious buyers.

  • Stable inventory provides buyers with options to compare and negotiate.

  • Slightly longer selling periods allow buyers to submit competitive yet strategic offers.

Advantages for Buyers:

  • Improved Pricing: Price declines offer opportunities to purchase below peak levels.

  • More Leverage: Buyers can negotiate contingencies and flexible closing terms.

  • Options to Choose From: New inventory gives buyers more choices without excessive competition.

Trends, Changes, and Future Projections

Price Outlook

Antioch’s market is expected to remain stable with modest price adjustments heading into early 2025. Economic factors, including interest rates and employment stability, will significantly influence buyer behavior.

Inventory and Competition

  • Inventory levels are holding steady, with 109 new listings keeping buyer activity consistent.

  • If sales volume increases, inventory could tighten, favoring sellers further.

Buyer and Seller Dynamics

  • Seller Score may rise above 70 if competition intensifies or inventory decreases.

  • Buyer Score could improve to the low 60s if additional price adjustments occur or interest rates stabilize.

Utilizing This Content

Here are 3 actionable messages you can use to engage your clients through marketing and social media:

1. “Sellers: Homes Are Selling Above Asking – It’s Time to List!”

Antioch homes are selling for 101.8% of list price with multiple offers. Take advantage of this competitive market to maximize your sale.

2. “Buyers: Prices Are Down – Find Your Opportunity!”

The median sale price has dipped by 5.6%, creating opportunities to secure homes at lower values. Now’s the time to negotiate great deals.

3. “Antioch’s Market Is Balanced – Act While Competition Remains Strong!”

With steady inventory and price adjustments, both buyers and sellers have unique advantages. Connect today to learn how you can make the most of this dynamic market.

The Antioch real estate market in December 2024 presents a balanced opportunity for both buyers and sellers. Price adjustments create room for negotiation, while steady demand keeps sellers in a favorable position. Real estate professionals can leverage these trends to guide their clients toward well-informed decisions.

For personalized advice, market insights, or real estate guidance, reach out to Realty One Elite—your trusted partner in navigating Antioch’s housing market.



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