Pittsburg/Baypoint, CA Real Estate Insights – December 2024

Current Market Overview, Trends, and Strategic Insights for Buyers and Sellers

Welcome to the December 2024 Pittsburg Real Estate Insights, your go-to source for market updates and trends. Whether you’re a real estate professional helping clients plan their next move or a buyer/seller looking to understand your leverage in this market, this report offers key insights, takeaways, and actionable strategies.

This month, Pittsburg's market shows steady activity, with stable home prices, increased buyer competition, and shortened days on market. Sellers continue to gain an edge, but buyers still have opportunities to negotiate on select properties.

Market Overview

Pittsburg, CA remains a balanced yet competitive market, as steady inventory and price stability sustain both buyer and seller opportunities. Here’s the December 2024 snapshot:

  • Median Sale Price: $610,000 (down 0.57% YoY)

  • Average Home Value: $578,007 (+1.7% YoY)

  • Median Price Per Square Foot: $371 (-1.5% YoY)

  • Days on Market: 16 days (improved from 19 days last year)

  • Sales Volume: 41 homes sold (up from 34 homes YoY)

  • Sale-to-List Price Ratio: 101.3% (homes selling above list price)

This combination of stable prices, increasing sales volume, and shortened time on market reinforces Pittsburg’s competitive landscape.

Current Market Trends

1. Price Stability with Minor Fluctuations

Home prices have remained steady, with Redfin reporting a 0.57% dip while Zillow shows a 1.7% increase in average values. This reflects a balanced market where demand sustains home values.

2. Faster Sales Reflect Growing Competition

  • Days on Market: Down from 19 to 16 days over the past year.

  • Many homes receive multiple offers, pushing sale prices above the list.

This trend highlights buyer urgency, particularly for well-priced homes in desirable neighborhoods.

3. Increasing Sales Volume

The number of homes sold rose to 41 in October 2024, compared to 34 last year. Zillow also reports 56 new listings, ensuring inventory remains consistent to meet buyer demand.

3 Top Takeaways

1. Sellers Hold a Strong Position

  • Homes are selling 1.3% above asking price with multiple offers.

  • Shortened days on market mean quicker sales and reduced holding costs.

2. Buyers Benefit from Steady Prices

  • Price stability gives buyers confidence when planning their purchases.

  • Consistent inventory creates more opportunities for negotiation.

3. Competitive Conditions Are Here to Stay

  • Buyer competition is strong, with fewer days on market and homes selling quickly.

  • Strategic pricing and readiness are key for success on both sides.

Buyer and Seller Scores

Seller Score: 74

Why Sellers Have the Advantage:

  • The average sale-to-list price ratio of 101.3% confirms that sellers are securing above asking price.

  • Shorter days on market (16 days) reduce holding time and increase efficiency.

  • Multiple offers provide leverage for more favorable terms, such as fewer contingencies and quicker closings.

Seller Benefits:

  • Maximized Sale Price: Sellers are consistently getting top dollar.

  • Faster Transactions: Homes sell quickly, with fewer disruptions.

  • Control Over Terms: Sellers can negotiate conditions to their benefit.

Buyer Score: 58

Why Buyers Still Have Opportunities:

  • Price stability minimizes volatility, allowing buyers to plan confidently.

  • Inventory is steady, with 56 new listings, giving buyers diverse options.

  • While competition is high, properties lingering on the market create negotiation opportunities.

Buyer Benefits:

  • Choice and Inventory: New listings ensure buyers have options to explore.

  • Financing Opportunities: Relatively stable mortgage rates enhance purchasing power.

  • Negotiating Leverage: Buyers can find value on properties not priced competitively.

Future Market Projections

Price Outlook

Home prices are expected to remain stable, with modest increases driven by demand and economic growth in the surrounding Bay Area. Pittsburg’s affordability compared to neighboring cities will continue to attract buyers.

Inventory Trends

The market will likely see steady inventory levels, with sales volume maintaining its upward trajectory. However, if buyer activity increases further, inventory could tighten.

Market Competitiveness

Competitive conditions are expected to persist, with homes continuing to sell quickly and above asking prices. Sellers should capitalize on this momentum, while buyers should act decisively to secure opportunities.

Utilizing This Content

Here are 3 key messages for real estate professionals to use in their outreach and marketing efforts:

1. “Sellers: Homes Are Selling Fast and Above Asking Price!”

The market is working in your favor. Shorter days on market and multiple offers mean you can sell quickly and for top value.

2. “Buyers: Steady Prices and Inventory Mean It’s Your Time to Act!”

Price stability and consistent inventory create the perfect environment to purchase before competition heats up further in early 2025.

3. “Pittsburg’s Real Estate Market Is Moving – Stay Ahead!”

With homes selling in 16 days and receiving competitive offers, now is the time to plan your next move. Contact us today for expert advice.

The Pittsburg real estate market in December 2024 reflects balanced conditions that slightly favor sellers while offering opportunities for buyers. Sellers benefit from competitive offers and quick transactions, while buyers gain from stable prices and consistent inventory.

Whether you’re a real estate professional guiding clients or someone looking to buy or sell, staying informed is key. For expert guidance and tailored strategies, reach out to Realty One Elite—your trusted partner in Pittsburg’s dynamic real estate market.


Additional Resources

For more detailed insights specific to Pittsburg, check out FindeB Homes. Stay informed on mortgage rates with Freddie Mac’s 30-year rate update. Additional Resources