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KEY TAKEAWAYS
- Property prices in the Rossmoor, Contra Costa, CA housing market are above the national average, but relatively affordable for the East Bay.
- Demand is high and large columns of properties sell each month in Rossmoor.
- Rossmoor is part of Walnut Creek and it is a gated community aimed at seniors, so households must have at least one person aged 55+.
- Rossmoor offers a peaceful, semi-rural feel with lots of amenities and facilities aimed at retirees.
- We are a trusted Contra Costa real estate agent and can help buyers and sellers in Rossmoor to get the right outcome.
Rossmoor, Contra Costa Housing Market Overview
Rossmoor, Contra Costa, CA is a gated community in Walnut Creek that offers a high quality of life for its residents. Sales volumes are very high and house prices are extremely affordable for the region, so there is lots of competition when properties become available. In the summertime, it is normal to see 150+ sales in a month, while property prices remain fairly consistent throughout the year.
You will find the Rossmoor is one of Contra Costa’s most affordable communities to live in, offering lower-priced housing than many nearby areas. It offers safe, semi-rural living that is aimed at retirees to enjoy the freedom to live peacefully – at least one resident must be over 55 to buy here. Whether your goal is to sell or buy there, you will need the support of a trustworthy Contra Costa real estate agent to get the best possible outcomes in this complex market. Work with us and take advantage of our expertise and professional team.
Detailed Analysis Of Rossmoor, Contra Costa, CA Real Estate
The housing market in Rossmoor, CA is aimed at seniors in Contra Costa, and the community is tailored to the needs of retirees. This has an impact on the living costs and sale-to-list prices. In this section, we look at list prices and the amount homes typically sell for, exploring the differences between these two figures. We will also explore things like property taxes and affordable housing.
Pricing And Sales
- List prices versus sale prices – For the most part, properties in Rossmoor, Contra Costa sell close to the asking price, so there are opportunities whether you are buying or selling your home in Rossmoor, CA. Historically, homes sell slightly above the asking price, trending around the 101% ratio for sale-to-list price. Going by transactions over the last 5 years, you can expect to pay something very close to the asking price if you are buying a house there, and there are lots of property sales every month.
- Homes sold above list price – As you might guess from the previous statistic, there is a percentage of properties that are sold above list price, but they are only slightly above that price. In early 2022, that percentage reached a peak of 80%, but it is more common to see around 30-50% of homes selling above the list price. This means there is scope for both buyers and sellers to find good opportunities here, but no one should expect sale prices to soar high above the list price. Buyers are advised to follow the best practices to buy a house throughout.
- Homes with price drops – Homes with price drops are fairly rare in the Rossmoor, Contra Costa, CA housing market. This is because there are lots of very similar properties in the community, all aimed at a similar type of buyer, with lots of interest whenever one becomes available. There may be opportunities to buy a home with a price drop, but most will sell for the list price. Fortunately, the cost of real estate here is very affordable compared to some areas in Contra Costa.
Tax And Financial Aspects
A critical factor in the Rossmoor, Contra Costa, CA housing market is the ongoing cost of property taxes. These mandatory payments fund local school budgets and infrastructure. While the base tax rate in California is 1% of your property’s assessed value, special assessments can vary by county. In Contra Costa, the average property tax rate is 1.11% of your home’s assessed value, so careful budgeting for this expense is essential.
Residents in Rossmoor should be aware that falling behind on property taxes can result in a Rossmoor, Contra Costa, CA tax lien. This lien forces payment of the owed amount and can cause additional financial challenges if payments are not made promptly.
Section 8 And Affordable Housing
If you are looking for affordable housing in Rossmoor, Contra Costa, CA, you will be glad to know that properties there are much more affordable than other East Bay areas. Alternatively, exploring the Section 8 housing list for properties in nearby neighborhoods could be beneficial. Due to Walnut Creek’s above-average market, it can be challenging for low-income individuals to find accessible rental options. The Section 8 program aims to provide subsidized rents to eligible households, making housing more affordable.
However, the demand for Section 8 housing often exceeds the available supply, making it difficult to secure a spot. Fortunately, Walnut Creek is known for its supportive and inclusive community, with many property owners renting their homes through the Section 8 program. Contact us for guidance on eligibility requirements and the application process for Section 8 housing.
Rossmoor, Contra Costa, CA Housing Market Trends
- Median prices of homes for sale in Rossmoor, CA – At the time of writing, the median property sale price in the Rossmoor, Contra Costa, CA housing market is $590,000. This is close to average when we look at historical house prices here. With some fluctuations, houses tend to sell for close to $600,000, which is higher than the national average but considerably more affordable than many other areas in Contra Costa. In the last few years, we have seen a high of $675,000 and a low of $499,000, but these types of prices are not the norm.
- Number of homes sold in Rossmoor, Contra Costa – The Rossmoor, Contra Costa, CA real estate market is characterized by very high sales volumes. This peaks in summer and drops off in winter, though even in February 2024 we saw 78 transactions. The summer of 2023 peaked in August, when there were 159 property sales, so you can see this is a very active market. Even with these sales volumes, there is competition for properties, so buyers will need to be prepared as they put in an offer.
- Median days on market – Homes in Rossmoor tend to spend 2-3 weeks on the market before being bought. In some months, the average days on the market drops as low as 7 or soars as high as 34, depending on various factors. But, for the most part, it remains in the 2-3 week range, so buyers and sellers should prepare accordingly. Work with a trusted, experienced local real estate agent to maximize your chances of success.
How Hot Is The Rossmoor, CA Real Estate?
With a huge amount of monthly activity, the Rossmoor, Contra Costa real estate market is an extremely hot one. Houses frequently sell for the list price, and there is always competition for properties despite the huge volume of houses that become available each month. It is important to set the right asking price when selling a property in Walnut Creek, and the buyer personas in Rossmoor, CA should be carefully considered as there are specific things that people over 55 look for. We can help buyers and sellers become attuned to the needs of this hot real estate market.
Rossmoor, Contra Costa, CA Migration & Relocation Trends
In the broader USA, approximately 3% of homebuyers considered Rossmoor, Contra Costa, CA, as a potential destination from other metropolitan areas. Most buyers who already reside in nearby Walnut Creek aim to stay within the city but move to a suitable area for their retirement. Recent data shows that buyers from outside metros mainly originated from Honolulu, New York City, Santa Barbara, and Pensacola. Those departing the area primarily relocated to Sacramento, Los Angeles, and San Diego.
These figures indicate that Contra Costa’s Rossmoor, CA housing market attracts individuals from across the nation. Conversely, Californians typically remain within the state, with many sellers in Walnut Creek either staying in the city or moving to a nearby metro for a change in lifestyle. Whether you are buying or selling, we are here to assist.
Popular Neighborhoods In Contra Costa’s Rossmoor, CA
Rossmoor, Contra Costa, CA’s housing market is quite unique, offering an expansive, upscale community for thousands of people aged 55+. It doesn’t necessarily have distinct neighborhoods, but here are some popular areas within the gated community:
- Waterford: This area offers picturesque landscapes and easy access to nearby amenities for tranquility and convenience.
- Creekside: Here you have stunning views and a community center for social engagement.
- Fairway: This area is close to the golf course, surrounded by beautiful scenery and a friendly community.
- Rossmoor Parkway: Here you will find a blend of comfort and accessibility, known for well-maintained properties and convenience.
Affordability varies slightly between these areas, so you should explore the available housing in detail and look for what will suit your preferences. Work with us to look at Rossmoor in detail and find the right fit for your needs.
Amenities Near Rossmoor, CA
Tailored to seniors and retirees, Rossmoor, Contra Costa, CA offers a number of amenities designed to meet the needs of people aged 55+. Besides the tranquil, scenic living throughout the community, popular features include:
- Golf courses: Rossmoor has several well-maintained golf courses that provide residents with outstanding golfing opportunities amid scenic views.
- Clubhouse: Rossmoor’s community clubhouse offers social events, fitness classes, and recreational activities for a vibrant, engaging lifestyle.
- Swimming pools: There are various swimming pools available for residents to enjoy leisure swimming all year round.
- Walking trails: Rossmoor’s scenic walking trails promote outdoor exercise and activity, enhancing the quality of life for residents.
With these amenities at your disposal, you will enjoy a rich quality of life in the Rossmoor, Contra Costa, CA real estate market. It is a desirable, quiet community for seniors with various recreational features.
Is It The Right Time To Buy Your Dream Home In Rossmoor, Contra Costa, CA?
If you’re looking to enter the Rossmoor, Contra Costa, CA real estate market, several factors should guide your decision on timing. The market typically experiences seasonal fluctuations, with spring and summer being optimal periods. Given the relative price consistency, it’s crucial to select your property with care to achieve the best results.
As conditions continually evolve, consider the following aspects closely:
- Market demand
- Mortgage interest rates
- Pricing trends
- Your financial health
These elements are essential in determining if this is the right moment to make a purchase, and we are here to assist you.
Should You Buy Or Rent A Property In Rossmoor, CA?
There are very few opportunities to rent a property in Rossmoor, Contra Costa, as it is a retirement community aimed at providing affordable housing for seniors. You may be able to rent a property in nearby Walnut Creek for around $2,500 per month, but this would not be our recommendation.
House prices in Rossmoor, CA are fairly affordable, but you will need to budget carefully for the cost of living. Renting is very uncommon in this community.
The Role Of Climate And Its Impact On The Rossmoor, CA Housing Market
The real estate market in Rossmoor, Contra Costa, CA benefits from its Mediterranean climate, characterized by warm, dry summers and mild, rainy winters. Summer temperatures can soar between 80-90°F, while winter temperatures typically vary from 40-60°F.
Occasional wildfires can occur due to the region’s warm, dry conditions. Additionally, since the area is susceptible to earthquakes, securing comprehensive home insurance is a crucial factor to consider.
Frequently Asked Questions
How Hot Is The Rossmoor, CA Real Estate?
Real estate in Rossmoor, Contra Costa, CA typically sells for close to the list price, which is above the national average but lower than much of the East Bay. Sales volumes are high, and there is lots of competition, so it is a hot market.
Amenities Near Rossmoor, Contra Costa, CA
There are many amenities aimed at seniors in and around Rossmoor, CA. You will find community facilities, golf courses, swimming pools, walking trails, and much more for an enriching lifestyle.
Should You Buy Or Rent A Property In Rossmoor, CA?
There are very few opportunities to rent in Contra Costa’s Rossmoor, CA, so buying is really your only option. Fortunately, house prices are relatively affordable compared to other Contra Costa areas.
