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KEY TAKEWAYS
- The Clayton, CA housing market is a competitive one, with high house prices and short times on the market.
- The economic downturn of 2022-23 had an impact, but the recovery is happening.
- It’s important to look at key trends like sale-to-list prices and the number of homes sold to determine the best time to buy or sell.
- There are many popular neighborhoods and amenities relating to the town’s suburban feel and strong community atmosphere.
- We can help you get the right outcome if you are looking to buy or sell in the Clayton housing market, with many years of experience in Contra Costa County.
Clayton, CA Housing Market Overview
The housing market in Clayton, CA is fiercely competitive, with media sale prices in excess of £1 million. While those prices are slightly down on a year ago, they are still above the national average. The number of properties sold is low, and they tend to sell quickly with multiple offers when they do become available. This market was not as heavily affected by the economic downturn of 2022-23 as some, but the wider economic conditions have had some impact.
While not among the most expensive locales to buy in Contra Costa County, house prices in Clayton are certainly higher than average here. It is a family-friendly city in a scenic location, with a charming downtown area and a community feel throughout. If you are interested in making any kind of move in the Clayton, CA housing market, you will need to work with a trustworthy Contra Costa real estate agent.
Detailed Analysis Of Clayton, CA Real Estate
There is no shortage of demand for real estate in Clayton, CA, but housing stock is quite low. This has an impact on sale-to-list prices, and we will look closely at that in this section. Read on to learn about list prices versus actual sale prices, and key financial considerations like property taxes and affordable housing.
Pricing And Sales
List prices versus sale prices
- Over the past 5 years, data shows that only exceptional circumstances in the wider economy keep sale prices close to list prices. Homes typically sell for between 102% and 115% of the list price on average, but COVID-19 and the economic downturn of 2022-23 impacted on that. The lowest recorded ratio of the last 5 years was 98.3% in October 2022, but there have been strong signs of recovery since then. In April 2023, that number climbed to 109.3%, though it currently sits at 97.5%. If you want to achieve the best price when selling your home, work with us to set the right list price and target your buyers effectively.
Homes sold above list price
- As the previous statistic suggests, there is usually a significant percentage of homes selling above the list price. However, the volatility of the recovering market after the recent economic downturn has caused that number to fluctuate and, in December 2023, no homes sold for more than the list price. We expect things to level out and increase as we enter the spring season, but now is looking like a good time to buy.
Homes with price drops
- The number of homes sold below the asking price in the Clayton, CA housing market is usually fairly low, but there are always opportunities. Right now, in early 2024, could be a great time to buy if you want to get a price drop, but we recommend diligent preparation to buy to get the best results. Come to us to explore opportunities in this sought-after area.
- Tax And Financial Aspects
One important consideration with regards to the Clayton, CA real estate market is property taxes. This is a bill that all must pay as it raises money to contribute to local programs like schools and infrastructure. The base rate of property tax in California is 1% of the assessed value of your home. In Contra Costa, thanks to special assessments, the average tax rate is 1.11% at present.
If you are considering a move in the Clayton, CA housing market, be aware of budgeting for this tax. Failure to pay could lead to a Clayton, CA tax lien that compels you to pay and threatens further legal and financial complications.
Section 8 And Affordable Housing
For anyone seeking affordable housing in Clayton, CA, your first port of call should be the Section 8 housing list. Clayton has a mix of locales, but prices everywhere are quite high for buyers and renters alike. People on low incomes may find it a difficult market to access, so Section 8 offers subsidized rents to qualifying households to make the city more accessible.
The demand for Section 8 housing is high, but Clayton, CA values inclusiveness and many residents choose to rent their properties via Section 8. We can help you understand the eligibility criteria if you have questions.
Clayton, CA Housing Market Trends
Median prices of homes for sale in Clayton, CA
- The latest figures suggest the median sale price in the Clayton, CA housing market is $1,056,000. This is relatively low for the city, which has seen prices climb as high as $1.46 million in recent years, but it is an increase on median sale prices earlier in 2023. The economic recovery is causing some instability in the market, so some sellers are getting great offers while others are accepting price drops. With the right approach, now could be a good time to buy a home in Clayton, CA.
Number of homes sold in Clayton, CA
- The Clayton, CA housing market rarely sees large volumes of sales. It is a small town with many happy residents and not a lot of people looking to sell. The 5-year high in monthly sales was 26 in October 2022, but numbers around 15-20 are far more common. November and December 2023 saw 5 and 9 total sales respectively, so activity is low, but there is always a lot of demand when houses appear on the market.
Median days on market
- With multiple offers and a lot of competition, homes usually sell very quickly in the Clayton, CA real estate market. In 2021, the month that had the highest average time on the market was September, with 12 days, but sometimes homes are snapped up in less than a week. Currently, homes are selling within 15 days, so you will need to prepare for a competitive climate if you plan to buy or sell here.
How Hot Is The Clayton, CA Real Estate?
The Clayton, CA real estate market is a hot one. It is characterized by:
- Multiple offers on homes for sale
- Short times on the market
- Properties regularly selling for more than the asking price
While it was not as heavily impacted by the economic challenges of 2022-23 as some places, it still felt the squeeze. As such, the market has cooled off somewhat and the recovery is leading to volatility. The market is definitely heating up again, and we expect the arrival of spring and summer to bring about more activity. Selling here is similar to selling a home in Lafayette, CA due to the type of community, house prices, and level of competition.
Clayton, CA Migration & Relocation Trends
The Clayton, CA housing market only featured in around 3% of searches from homebuyers across the USA. However, people moved to Clayton from various locations around the country in the last months of 2022-23. Manhattan, KS, South Bend, IN, and Ithaca, NY were all sources of inflow, demonstrating the desirability of this town.
People leaving Clayton generally headed to other metros in California, with Sacramento, Los Angeles, and San Diego topping the list. This goes along with the common narrative of California residents wanting to remain in the state, suggesting people only leave Clayton in search of a more urban lifestyle.
Popular Neighborhoods In Clayton, CA
As a small town, the Clayton, CA housing market is made up of different communities rather than neighborhoods. Here are some of the most popular areas in Clayton:
- Downtown Clayton: This is the hub of the town with local shops, restaurants, and community events.
- Regency Woods: A residential neighborhood featuring a rich blend of single-family homes with quiet streets and a family-friendly feel.
- Oakhurst Country Club: A different kind of residential area centered around the country club with a suburban feel and access to the fantastic golf course.
- Trailwood: Situated in southern Clayton, Trailwood is characterized by natural landscapes and proximity to outdoor trails.
These areas are representative of the general character of the Clayton, CA real estate market. Residents here love the community atmosphere and high quality of life.
Amenities Near Clayton, CA
Clayton, CA is a short drive away from larger metros like Pittsburg, Walnut Creek, and Concord. But it does have some attractive amenities of its own that play a big role in demand for the Clayton, CA housing market.
- Mount Diablo State Park: This breathtaking natural feature offers scenic views and plenty of opportunities for hiking and nature exploration.
- Community parks: Green spaces within Clayton include Hap Magee Ranch Park and Clayton Community Park, where residents can enjoy recreational facilities and family-friendly activities.
- Top-rated schools: Clayton is home to several well-regarded schools, including Clayton Valley Charter High School, which is a very appealing feature for families.
- Charming Downtown: Clayton’s downtown area features local shops, restaurants, and community events that contribute to a thriving local feel.
The Clayton, CA real estate market caters to various lifestyle preferences away from the big city. If you like outdoor recreation, a community feel, or family-friendly environments, contact us to enquire about available homes.
Is It The Right Time To Buy Your Dream Home In Clayton, CA?
If you want to make a move in the Clayton, CA housing market, there are many factors that go into the decision. From an objective standpoint, the current volatility in the market means there are opportunities to get a great price, and values are likely to appreciate in the near future. However, you should proceed with a careful examination of things like:
- Market demand
- Pricing trends
- Mortgage interest rates
- Your financial health
We can help you assess these things and provide up-to-date information on the latest trends in the Clayton real estate market. Bear in mind that the availability of homes here is often quite low, and the market is competitive, so you will need to be in a strong position to buy.
Should You Buy Or Rent A Property In Clayton, CA?
Rental properties are few and far between in the Clayton, CA housing market, but there are some opportunities. The lowest rental prices you can expect to find in the town are around $3,000 per month, so we don’t recommend pursuing this for a long-term arrangement.
It can be good to rent first before buying to familiarize yourself with the city. But, otherwise, we recommend buying to get maximum value for your money.
The Role Of Climate And Its Impact On The Clayton, CA Housing Market
Clayton, CA has a Mediterranean-style climate characterized by hot, dry summers and mild, wet winters. This is an attractive feature of the town for many, but the abundance of woodland and the combination of hot and dry weather can lead to an increased risk of wildfires. There have also been issues with landslides during the wet winter months.
If you want to soak up the pleasant climate of Clayton, CA, we recommend ensuring you have the appropriate home insurance to protect against wildfires and potential landslides. Many in California like to take out earthquake protection as well, though Clayton is not known for seismic activity.
