Walnut Creek Real Estate is Off & Runnin’!
2017 is in full swing, and home owners are taking advantage of the current market to capitalize on the sale of their home. This year is already starting to feel a little different than recent years. As interest rates are expected to climb throughout the year, it appears as though home owners are looking to get their homes sold early.
The buyer demand is going to stronger if their interest rates are low enough. So could we see home values plateau or even taper off this year? Hard to say, we wish we had that crystal ball! It appears that is what current home sellers are expecting.
Before we dig into the numbers for Walnut Creek Real Estate so far this year, if you are considering selling your home be sure to take advantage of a free home value analysis and marketing plan from our team. Just click the image below and fill out the form, we will be in touch quickly! Or just call Steve on his cell (top right corner), and say you were reading this article!
How Many Homes For Sale In Walnut Creek So Far?
Since January 1st, 2017 until the day of writing this article (February 23, 2017) there have been 71 listings on the MLS. Keep in mind we are looking purely at single-family detached homes.
Last year, the same time frame amounted to 68 listings. It’s not much, but that is a slight increase year over year. In 2015 it was 65.
Of the 71 homes listed so far this year, there are 26 active listings at the time of this writing. That’s pretty healthy given the low inventory of recent years. It’s nowhere near the “norm,” but we are doing pretty well considering it is February.
Since we are looking at homes put on the MLS on January 1st, 2017 and later, not many homes have closed yet. To be precise, there have been 6 single family homes to close so far in 2017.
All 6 of those homes sold in Walnut Creek closed for above list price! One of which was just shy of being $100,000 over asking. And just to add to the shock value, all of those closed for $25,000 higher than list price or more. I wanted to drive that home. Not one of those 6 homes were listed at $799,000 and sold for $800,000 which would “technically,” be over asking. The smallest difference was $25,000 above list!
What does that tell us?
Buyers are hungry and aggressive for homes in Walnut Creek, CA. This has been the case for a few years now, but the trend continues.
What Are The Other Trends In Walnut Creek Homes For Sale?
For the most part, homes are selling quickly. With aggressive buyer demand, people are looking to jump on whatever opportunity presents itself. The average amount of days a home is on the market before going into contract is only 11. That’s less than two weeks of market time!
Of 44 currently pending or sold listings, 27 homes went into contract in 10 days or less! That is an astounding statistic, but it has become the norm in Walnut Creek Real Estate.
How Much Are Homes In Walnut Creek Worth?
Well, let’s take a look at what all these homes are listing for. Goodness our team just listed a “fixer-upper,” at $899,000 if that is any indication!
For 2017 so far, the average listing price sits at $1,075,047. Think about that, the average home in Walnut Creek is worth one million dollars.
Of the 6 homes that have sold so far, that average is $943,333. It would be slightly higher, as a home that sold for $475,000 brings that average down a bit.
As You Can Probably Tell…
Walnut Creek Real Estate is off to a fast start this year. This part of the bay area attracts a lot of home buyers who have the money to spend. They are also well prepared to compete for a home.
Are you in the Walnut Creek, CA area? Are you considering selling your home? Even if it is just a thought at this time, take advantage of our free, no-obligation home value analysis and sample marketing plan. Click on the image below, and fill out the simple form. Once you do that, our team will be in touch with you as soon as possible. Feel free to contact us with any questions as well.
Please Note: The data for this article is considered reliable but not guaranteed. The data was pulled from the MLS on February 23rd, 2017 for Active, Pending, & Sold Listings dated between then and January 1st, 2017. The data was for single-family detached homes only. Townhomes, condos, etc… are not included.
Latest posts by Matt Quanstrom (see all)
- Walnut Creek Real Estate Market Report, January-March 2017 - April 4, 2017
- Concord Real Estate Market Report; January-March 2017 - April 4, 2017
- Walnut Creek Real Estate Market Report February 2017 - February 24, 2017