January 2011 Walnut Creek California real estate update
Residential Home sales were 20 for the month of January, with an average sales price of $618,205, which is down 12.8 % to January 2010 which is $91,000 lower than 2010. Median sales pricing for January 2011 is also down 13.6% compared to January 2010 which is a whopping $94,000 lower than 2010 home prices. Walnut Creek home prices being lower create a great home buying opportunity for buyers who could not otherwise afford to buy a Walnut Creek Single-Family Detached home for sale last year. It’s the perfect time to buy a Walnut Creek home.
Walnut Creek Home Sales Jan 2010 vs. 2011
| Single-Family Detached | 2010 | 2011 |
+/- |
|---|---|---|---|
| New Listings | 58 | 53 | -8.6% |
| Pending Sales | 45 | 44 | -2.2% |
| Closed Sales | 19 | 20 | +5.3% |
| Median Sales Price | $689,000 | $595,000 | -13.6% |
| Average Sales Price | $709,035 | $618,205 | -12.8% |
| Percentage of Original List Price Recieved | 90.2% | 89.7% | -0.5% |
| Average Days on Market Until Sale | 65 | 73 | +11.1% |
| Inventory of Homes for Sale at Months End | 111 | 102 | -8.1% |
Condo-Townhouse sales for January were up 33.3% with 20 units sold compared to 15 in 2010, with an average sale price of $288,285. Volume is up and median pricing is up by $48,000 but still very affordable. Pending condo-townhouse sales are also up 4 units to 33 compared to only 29 in January 2010. The supply of Walnut Creek condo-townhomes for sale is up 5% to 123 units compared to 117 last January 2010. Some of the most attractive pricing in years is in the $200,000 and below which include 1 bedroom condos as low as $113,000. The sales price as a percentage of original list price remains steady at 91.7%. The average days on the market are shorter by 11 days from 84 in January 2010 to 74 in Jan 2011.
Walnut Creek Condo-Townhouse Sales Jan 2010 vs. 2011
| Condo-Townhouse Attached | 2010 | 2011 |
+/- |
|---|---|---|---|
| New Listings | 49 | 43 | +10.4% |
| Pending Sales | 29 | 33 | +13.8% |
| Closed Sales | 15 | 20 | +33.3% |
| Median Sales Price | $242,000 | $290,000 | +19.8% |
| Average Sales Price | $301,300 | $288,285 | -4.3% |
| Percentage of Original List Price Recieved | 91.8% | 91.7% | -0.1% |
| Average Days on Market Until Sale | 84 | 74 | +12.0% |
| Inventory of Homes for Sale at Months End | 117 | 123 | +5.1% |
Residential Home sales were only up 1 sale compared to January 2010, and the average pricing was down -$92,000. Condo sales volume is up by 5 units as well and our inventory is is slightly increasing by 6 condos or town homes, however in January we saw a drop in our average sales prices of only $13,000 to last year. In summary, the market is definitely moving, single family homes are staying on the market longer while condo and town-homes are on the market shorter. Properties that are priced well are moving quickly. There are still great property values out there to be had, especially with interest rates being as low as they currently are. This is a perfect time to explore an home or investment in Walnut Creek California of the beautiful San Francisco East Bay Area of Contra Costa County.
©2012 Bay East. ©2012 CCAR. ©2012 EBRD. All rights reserved. Information deemed reliable but not guaranteed. This information is provided from three separate sources: Bay East, CCAR and EBRD. The listings presented here may or may not be listed by the Broker/Agent operating this website. Information last updated on 2/22/12 10:56 AM PST.