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Health & Fitness

January Real Estate Stats in Walnut Creek

Recent housing statistics for Walnut Creek

With all the buzz about short sales, foreclosures, and all that has been happening in the economy, you can't help but wonder how that has affected real estate values in Walnut Creek. In the month of January for 2012, we've seen a significant drop in inventory by 44% over January of 2011. On the otherhand, closed sales have increased by 19% over January of last year, as well as pending listings have increased by 10% over last year. As for the median price in Walnut Creek, in January 2011 the median sales price was $602,500, while in January of 2012 the median price was $595,000. That was a 1.2% drop. Remember, median price means that half the sales made during the time period were above that, and half were below that figure. The average price has actually gone up over the last year by 6.5% from $620,795 to $660,280.

There seems to be a fairly significant "pent up" demand for housing, but the "move up market" has stagnated as many home owners have lost significant value in their property and cannot sell and gain any equity. Many of the sales we are seeing in Walnut Creek are those sellers that are downsizing, moving out of the area, or have had a major life event.

Based on the current listings of the Multiple Listing Service as of 2-16-2012, 12% of the listings are short sales, and 10% are bank owned properties. These figures are based on detached single family homes and do not take into account condos and other attached units. With only 22% of the market in Walnut Creek showing as distressed sales, that is a much lower percentage than many other cities in Contra Costa County.

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See the attached pdf file for the breakdown in statistics that were presented here.

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