Bidding Wars: Homes Selling Over The List Price in Walnut Creek

Multiple bids are driving up home prices throughout the East Bay. Here's one in Walnut Creek that benefited from multiple bids.

Home prices are on the rise in the East Bay.

DataQuick reported this week that 1,165 homes were sold in Contra Costa County in January. That was a 4.5 percent increase from the year before.

In addition, the median home price in the county rose to $301,000, a 28 percent hike from January 2012.

One of the reasons for the increase, DataQuick reported, is the continuing lack of inventory in the housing market. The tight demand is causing multiple bids to be made on homes, in some cases driving the price well above the list price.

In Walnut Creek, an older home sold recently for more than $100,000 above the original price.

The three-bedroom, two-bathroom house at 1331 Dewing Lane was originally listed at $575,000. After multiple bids, it sold for $682,000 in early February.

The one-story house, built in 1954, is 1,587 square feet and rests on a quarter acre.

Do you know of other homes in your community that sold for above the list price? Let us know in the comments section.

This information was provided by Rachael Hand, Broker Associate, Coldwell Banker and Director for the Contra Costa Board of Realtors. You can reach her at 925-372-8080 or rachael.hand@cbnorcal.com

Patricia A Dickson March 05, 2013 at 04:53 PM
Homes in ROSSMOOR are selling above asking, with multiple bids due to lack of inventory. Hop on one before the upswing hits the top again! Right now, still the best bargain in Walnut Creek! It's a community, not just an address. With over 200 clubs, something for everyone!
Patricia A Dickson March 05, 2013 at 04:54 PM
Oh, forget to say, I love living in Rossmoor! Awsome tennis courts!


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