Walnut Creek Real Estate Update - January

Happy 2015 to all! What a year 2014 was for the real estate market. Overall, the market in Walnut Creek was steady but like all of the Bay Area, it was nothing to write home about. Employment statistics released earlier in the week by the U.S. Bureau of Labor Statistics (BLS) fall right in line with analysts’ recent predictions that the housing market will make a comeback in 2015. Reports from economists at CoreLogic and Wells Fargo released in December indicated they believe housing will rebound in 2015 after a disappointing 2014, and they cited improvements in the U.S. labor market as a main reason why. The national unemployment rate in November was 5.5 percent, more than a full percentage point lower than the rate reported for November 2013 (6.6 percent). A total of 200 metro areas had an unemployment rate below the national average of 5.5 percent in November.

With 2015 projections being positive, we have great things to look forward to in Walnut Creek this year! Walnut Creek closed out the year on a fairly well with some increases and decreases in various categories. The median sale price was up 24% year over year, from $780,000 to $969,000. Additionally the number of homes sold in Walnut Creek increased by 7% year over year from 41 to 44. Conversely, under contract, new and for sale properties are all down for the month of December. The number of homes under contract dropped 19% from 27 to 22. New properties dropped by over half year over year by 52%. And lastly, new properties decreased by 24%, from 72 to 55. 2015 is supposed to be a great year so we’ll see once we’re well into the new year.

Community Event 

Event Name:Walnut Creek on Ice – Skate for Hope!
Description:Benefiting CASA (Court Appointed Special Advocates), which helps abused, neglected and abandoned children and youth in foster care in our community.http://www.cccocasa.org/

Date: Saturday, January 10 2014
Time: 1:00 – 4:00 pm
Location: Walnut Creek on Ice at Civic Park
Emceed by: Dan Ashley from ABC 7 News
Live music performance by: the band PUSH
Event will include: Hot chocolate bar, raffles and more!

Details:Open to the public