Average Selling Price for Detached Single Family Homes

Average selling price, since 1983, for detached single family homes for the towns of Alamo, Blackhawk, Danville, San Ramon and Walnut Creek, California, with corresponding inserted interest rate chart.

I've charted and graphed price changes for the last 25 years in these areas. It's interesting to note that if you were to project a line at an angle aligning the most stable years you'll see we're still about 25% higher now than we should be, but that's just my opinion.

Take a look at the interest rate chart which goes back to 1963. Current interest rates are exactly the same as they were in 1963. This is a historic low for interest rates but hang onto your hats, it's going to be a bumpy ride.

Also note how high the interest rates were in the late 70's, early 80's. If you're old enough to remember, and I am, that's the last time the government tried to control the free market economy (Jimmy Carter years).

National Average Mortgage Contract Interest Rates

To put the current mortgage interest rates into perspective see the mortgage interest rate chart below. These rates start in 1963 and go through 2008. This chart confirms that we are experiencing historically low mortgage interest rates.