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KEY TAKEWAYS
- Antioch is one of the more affordable cities to buy in Contra Costa, but prices are still above the national average.
- The Antioch housing market is recovering from the economic downturn of 2022.
- Trends and forecasts suggest rising prices and activity as we head into 2024.
- There are many popular neighborhoods and outstanding amenities, particularly for outdoor living in the city.
- Now is a good time in the Antioch, CA real estate market if you can afford to buy or wish to sell, but you will need the right real estate agent.
Antioch, CA Housing Market Overview
Antioch is one of the more affordable cities in the Contra Costa real estate marketplace. House prices remained relatively consistent even through the economic downturn in late 2022, but they are currently down around 0.63% compared to this time last year. With a median selling price of $626,000, homes are staying on the market for approximately 23 days on average. The volume of inventory is also down slightly at present.
Though relatively affordable for Contra Costa, houses for sale in Antioch still go for more than the average house price in the U.S. The national housing market is rich and diverse, and the dynamics in Antioch are driven by both local and national trends.
Let’s take a closer look at the Antioch, CA housing market in the context of pricing and sales, property taxes and the Antioch Section 8 housing list.
Pricing And Sales
- List prices versus sale prices
- Properties for sale in Antioch, CA tend to sell for slightly higher than the asking price on average. The current sale-to-list price ratio is 101.6%, though it mostly fluctuates around 100%, sometimes dipping higher or lower.If you want to sell your house fast in Antioch, it is important to set a competitive listing price. This takes skill and experience, which we bring to the table for our clients. Contact us if you want to discuss how we could help you sell your Antioch property.
- Homes sold above list price
- A look at trends for homes sold above list price shows great fluctuation. Currently around 65%, the number can climb as high as 93% or sink as low as 30%. This is a volatility that reflects the recent economic conditions in the country and the impact this has had on housing markets everywhere.Come to us for the most up-to-date information about homes selling above the asking price in this city. The Antioch, CA housing market is diverse and vibrant, and we can help you identify opportunities to buy or sell at the right price for you.
- Homes with price drops
- When the economy was weaker, we saw a greater prevalence of homes selling below the list price. This peaked towards the end of 2022, and it has trended downwards in 2023. However, there has been a recent uptick in homes selling for less than the asking price, standing around 33% at present.You need a dependable real estate agent to help you negotiate the best possible price, whether you are buying or selling a home. We have a catalog of properties for sale in Antioch, CA and a wealth of experience in the city, so we are poised to assist.
Tax And Financial Aspects
Antioch property tax is based on the California base rate of 1%. With special assessments accounted for, the average rate in the city is currently 1.11%. The tax raises money to fund local projects like schools, infrastructure, and more, and it is a legal requirement to pay it. As such, you must account for it as a living expense in your planning.
Failure to keep up with your real estate taxes can result in an Antioch tax lien against your property. This compels you to pay what you owe and can lead to further financial and legal implications if you fail to keep up. If you plan to enter the Antioch, CA real estate market, we can help you plan for living expenses to budget effectively.
Section 8 And Affordable Housing
Like much of California, housing affordability is a challenge for the Antioch housing market. The Antioch, CA Section 8 housing list exists to provide opportunities for low-income families and individuals. This program helps stabilize the market, preventing poverty and homelessness for those who might otherwise struggle.
This program is important for social and economic diversity, but there is high demand for it. Competition is fierce, and the city continues to encourage more affluent residents to rent out their properties through Section 8 to help meet the growing demand.
Antioch, CA Housing Market Trends
Median sale prices in the Antioch, CA housing market are trending upwards again after a slight downturn through 2022. Concerns with the wider economy are likely to be behind the market blip, but recent forecasts are looking positive for inflation and interest rates. The current median price of $626,000 is slightly down from 12 months ago, but the upward trajectory is sure to bring about a return to previous highs soon.
Now is a good time to explore houses for sale in Antioch, CA. Buyers might consider putting offers on multiple properties to secure a home faster and benefit from rising prices in the coming months. We can help with this strategy.
In March 2022, we saw 164 homes sold as the Antioch, CA real estate market experienced high activity. It has not come close to that level since, with economic conditions leading to a downturn in market activity. The most recent figures, for August 2023, showed 87 homes sold. This represents a significant increase from the start of the year, and, though the winter months are typically quieter, the improvements forecast in the wider economy could bring about more activity in the market.
Whether you are a buyer or a seller, we can help you navigate what is to come in the Antioch housing market. With a strong team of real estate professionals and vast experience in the city, we are well-positioned to assist.
Traditionally, properties for sale in Antioch, CA come off the market within a couple of weeks. However, at the end of 2022 and the start of 2023, many properties were going unsold for close to a year, as the market grappled with economic challenges. Signs of recovery have emerged this year, and the current average time on the market is 26 days. Sellers will need to go the extra mile to drive up demand.
We can assist you in setting the optimal asking price to attract interest and ensure you get the full value of your home. Work with us to sell your house quickly and turn your housing dreams into reality.
How Hot Is The Antioch, CA Real Estate?
The Antioch, CA housing market is traditionally very active, offering a relatively more affordable path to property ownership in Contra Costa. The economic downturn of 2022-23 had its impact, but there are now signs of recovery. The market is gradually heating up and could reach a boiling point in 2024, with forecasted improvements in the economy and a decrease in interest rates.
Antioch, CA Migration & Relocation Trends
Antioch is a favored destination for residents within California. Most inbound moves to Antioch originate from other cities in the Golden State, with places like Ukiah being common sources. However, newcomers have also arrived from states such as Illinois, Wyoming, and Massachusetts.
Conversely, when people leave Antioch, they often relocate to other California cities like Sacramento, Los Angeles, and San Diego. Additionally, Seattle and Las Vegas are popular destinations for those departing the Antioch, CA housing market. While it’s a common stereotype that Californians prefer to stay within the state, the statistics affirm this to some extent.
Popular Neighborhoods In Antioch, CA
There are several popular neighborhoods in the Antioch, CA real estate market. Affordability varies depending on several factors, but you can expect a great quality of life no matter where you choose to buy.
That being said, some neighborhoods stand out for their market appeal, including:
- West Hartley: A suburban neighborhood with homes of various sizes, making it popular among growing families.
- Antioch South: This area boasts a high level of diversity, with a significant Filipino population and many Tagalog speakers. Cultural diversity and numerous amenities characterize this neighborhood.
- Mountaire-Ashley: Known for its cleanliness, tranquility, and family-friendly environment, this neighborhood offers opportunities for outdoor activities and features highly-rated schools.
Ultimately, your lifestyle priorities will guide your choice of the best neighborhood for you. Feel free to work with us to assess your specific needs.
Amenities Near Antioch, CA
There is ample open space in and around Antioch, CA, offering numerous opportunities for outdoor recreation. The waterfront is a popular destination for boating and fishing, while Contra Loma Regional Park provides an ideal setting for hiking and picnics. The city boasts a range of well-respected private and public schools catering to residents of all ages, making it particularly appealing for families. Additionally, the Antioch housing market is boosted by excellent healthcare facilities, ensuring easy access to medical care.
The city provides good public transportation options, and cultural and entertainment venues like the Lynn House Gallery and El Campanil Theatre are conveniently accessible. Furthermore, residents can enjoy a variety of shopping and dining opportunities throughout the city.
Is It The Right Time To Buy Your Dream Home In Antioch, CA?
At the outset of an anticipated upturn in the Antioch real estate market, now is an opportune moment to enter the market and potentially benefit from appreciation in the coming months. With relatively low competition, there are opportunities to secure favorable prices when working with the right real estate agent. Key factors to consider include:
- Market demand
- Pricing trends
- Mortgage interest rates
However, it’s essential to assess your personal financial health and goals. If you’re contemplating purchasing a home in Antioch, reach out to us for guidance. We have financial advisors in our professional network and access to available properties in the city, making us well-equipped to assist you.
Should You Buy Or Rent A Property In Antioch, CA?
The choice between buying and renting in the Antioch, CA housing market is highly individual. Buying is generally a more financially prudent option for long-term plans, allowing you to build equity and benefit from price appreciation. However, the high cost of housing can be a barrier for some, and others may hesitate to commit to the city.
Currently, the median rent in Antioch is $2,126 per month, exceeding the national average. This makes renting in the city challenging as well. If you meet the criteria, you can explore the Antioch Section 8 housing list for affordable options. Otherwise, contact us to explore your housing choices.
The Role Of Climate And Its Impact On The Antioch, CA Property Market
The climate in Antioch is characterized by hot, dry summers and mild, wet winters. This climate significantly contributes to the popularity of Antioch, CA real estate, attracting people to the area and increasing demand for homes. The preference for outdoor activities in this climate, including homes with pools and spacious backyards, often results in higher property prices.
It’s important to note that Antioch is vulnerable to issues like wildfires and earthquakes. These factors are crucial considerations for potential homeowners and may require specific types of home insurance coverage, particularly in certain regions of the city.
