2017 was a huge year for real estate in Walnut Creek, CA. We saw a solid amount of inventory, and still rising prices. More inventory has helped buyers secure homes in one of the Bay Area’s most desirable communities. Prices were still rising which is great news for home sellers. It will be interesting to see how well things continue to start 2018!
Please Note: This article will feature information pulled from the MLS and is considered to be accurate but not guaranteed. The information pulled from the MLS is of single-family detached homes, listed between 01/01/2017 and 12/31/2017. This also shows homes that became active, pending or sold in the year. Withdrawn, cancelled, and expired listings are not included.
What Happened In Walnut Creek Real Estate This Year?
Things felt pretty vibrant this year, with buyers still competing for homes and sellers making out very well. This is expected as Walnut Creek is one of the Bay Area’s most desired communities for home buyers. We’ve written before on why people want to move to Walnut Creek, and every year it shows!
Throughout the year, 557 single family homes hit the market in the Walnut Creek, CA area. Wow! And most of that number is already done and finished. At the time of writing this article, 525 are done and sold. That leaves 20 listings that are currently pending with only 12 that are currently active. Considering the time of year, we are a little surprised there are that many pending and active right now. But that just goes to show that the real estate market in Walnut Creek will just keep ticking!
The time to sell your home in Walnut Creek is NOW. Home sellers are walking away with great results in selling their homes. Ready to take advantage of the current real estate market? Send us a note now, and we will tell you how things are going in greater detail.
Care to see some more numbers on Walnut Creek Real Estate’s 2017 performance? Read on…
List Price versus Sold Price
This is usually the most important set of numbers to people. What has been common in our area the last few years, is that homes come on the market and they “get bid up.” They sell for more than what the asking price is. Not so great for home buyers who get frustrated at competing for homes, but fantastic for home sellers!
This is something we have necessarily seen in past years, where the increase in price gets into the averages for the year. We’ve seen instances where many homes go for more than asking, but the averages would still be even…or less due to outliers. This indicates buyer demand is still incredibly strong in our community. People want to move here, and are going through great lengths to compete for homes.
How Long Does It Take For A Walnut Creek Home To Sell?
We’ve written about this before, and much like that article states it is a very quick process. Homes are on the market for a short time before going into contract with a buyer. In 2017 the average days on market was 19 days. That is incredible! A lot of outliers, like fixer uppers that were overpriced that just sit skew that upwards. A large portion of those 500+ homes that came to market and sold went much quicker than 19 days.
It is a very competitive landscape, and home buyers are prepared to act fast when a Walnut Creek home is for sale. Our community’s stellar reputation and amenities make it an attractive place to live in the Bay Area.
Other Fun Little Facts
The highest listing price for a single family home in Walnut Creek in 2017 was $3,195,000. Surely enough the selling price of this home was also the highest of the year, at $2,940,000 (one of the few to sell below asking price!).
The average bedrooms for all listings in 2017 was 3.71. Walnut Creek does carry a lot of 3 bedroom homes, and even 2 bedroom (especially in Saranap area). This figure doesn’t surprise us at all, although it may be thought to be closer to 4.
Interestingly enough, with the average bedrooms per listing being below 4 makes the square footage a little surprising. The average square feet for these Walnut Creek listings in 2017 sits at 2,204. That’s a decent sized family home in a town that has it’s share of smaller homes in some neighborhoods.
Walnut Creek, CA is still a real estate market where buyer demand is outweighing the inventory. This is driving home prices up, and those that do sell are getting fantastic results.
If you are considering a move, it is time to start planning. Contact us, and we will get you set up with a no cost, no obligation analysis and marketing plan. This will show you where your home stands in the current market place, and how we get it sold for you. Remember, spring is one of the best times of year to sell!
Latest posts by Steve Quanstrom (see all)
- Walnut Creek Real Estate 2017 Year In Review - January 16, 2018
- Walnut Creek Real Estate Market Update March 13, 2014 - March 13, 2014
- 3 Tips For Buying A Home In This Crazy Market! - February 8, 2014