With limited inventory to select from and interest rates at historic lows, Walnut Creek home buyers have experienced an extremely competitive summer. Houses in Northgate were receiving 15 to 20 offers. A fixer-upper in Walnut Heights closed for 14% more than the asking price. Numerous homes in Lakewood, Parkmead and Walnut Knolls sold before they ever officially hit the market. No question about it, Walnut Creek has been in a seller's market all summer ... and the August sales numbers are showing it.
At a very high level, here's what we saw in the single-family home market across all of Walnut Creek for August 2012:
- Most Expensive Sale: $1.499M
- Least Expensive Sale: $351k
- Average Sales Price: $714k
- Median Sales Price: $712k (14.8% higher than August 2011!)
- Average Days-on-Market: 38
- Average Price-per-Square Foot: $351/sqft
- Distressed Properties: 19% of sales
- Inventory Levels: 2.4 months
For a more in-depth analysis of the Walnut Creek real estate market, take a look at the SPARRreport. It covers both the single-family home market as well as the condo/townhouse market. In addition, it goes into detail that is very important to understand if you're thinking of either buying or selling a home in Walnut Creek in the near future.
By the way, I do this monthly analysis on other towns in Contra Costa ... if you're interested in somewhere else, just let me know and I'll send you that report as well.
In the meantime, though, take a look at the current Walnut Creek homes for sale...