Walnut Creek Yearly Sales Review for 94598 Zip Code

By
Real Estate Agent with J. Rockcliff, REALTORS

The housing market everywhere isn't all doom and gloom...not in Walnut Creek, CA anyway!

The following charts show the comparison of this year versus last year's sales for Detached, Single-family homes only within the zip code of 94598.  This zip code is predominately located within the Northgate community of Walnut Creek. 

The first charts show total number of listings, the sales terms, average/medium prices and the average days on the market (DOM). 

Jan. 1 through Dec. 31, 2009 (Last Year)

Column1 No. of Listings Dollar Volume Average Price Median Price Average DOM
RESIDENTIAL          
    Conventional 142 $108,259,536 $762,391 $722,500 54
    FHA 13 $8,194,000 $630,308 $649,000 66
    VA 1 $620,000 $620,000 $620,000 8
    Cash 10 $7,459,500 $745,950 $719,000 28
    Other 2 $1,515,000 $757,500 $757,500 51
           
           
Totals 168 $126,048,036 $750,286 $713,500 53

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Jan. 1 through Dec. 31, 2010 (This Year)

Column1 No. of Listings Dollar Volume Average Price Median Price Average DOM
RESIDENTIAL          
    Conventional 156 $122,185,138 $783,238 $705,000 49
    FHA 15 $9,169,000 $611,267 $635,000 50
    VA 1 $590,000 $590,000 $590,000 28
    Cash 21 $15,940,095 $759,052 $695,000 57
    Other 4 $2,765,000 $691,250 $710,000 32
           
           
Totals 197 $150,649,233 $764,717 $695,000 49

 

Quick glance summary: 

Number of Listings:  We are up 17% over last year

Dollar Volume:  Up 20% from previous year

Average Price:  Up 2% from previous year

Median Price:  Down 3% from previous year

Average Days on the Market (DOM): Down 8% from previous year...but that's a good thing!

Remarks:  The bulk of the sales are in the price ranges of $500k to $800k (73% of total sales last year and 67% of total sales this year).  Given those price ranges, it's understandable that the terms of sales fall approximately 80%-85% for Conventional financing.  It is interesting to see that this year's CASH SALES doubled over last years and not necessarily in the lower price range either.

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Walnut Creek is not isolated from the distressed market, but there was an overall improvement this year.  The chart below gives a breakdown of each type of sale per price range.

                                      SHORT SALES               BANK OWNED SALES            REGULAR SALES

(Price Ranges) Last Year This Year   Last Year This Year   Last Year This Year
$400k - $500k 2 5   3 8   2 2
$501k - $600k 4 3   7 4   18 33
$601k - $700 4 5   4 6   35 36
$701k - $800k 4 4   6 1   34 25
$801k - $900k 1 2   1 1   14 25
$901k - $1 mil 0 0   1 0   9 9
$1 mil plus 1 2   2 0   16 26
Totals 16 21   24 20   128 156
% of Total Sales: 10% 11%   14% 10%   76% 79%

Summary:  Last year, 24% of all sales were distressed versus 21% this year...good to see it go down!  As mentioned above, the bulk of the sales are priced in the $500k - $800 range which is where most of the distressed sales were also at.  It does show a shift more toward 'Short Sales' this year over 'Bank Owned'.

So encouraging news for Homeowners and those considering moving to Walnut Creek.  Let's hope the market in this wonderful community continues to show an improvement in the housing market!  If you are thinking of buying or selling a home, call your Walnut Creek Real Estate Agent!

NOTES on Data:

Information taken from the Contra Costa Association of Realtors MLS effective 12/31/10 for the time period of Jan. 1 through Dec. 31

Zip Code 94598 only

Detached, Single-Family Homes only (does NOT include condos or townhomes)

                                                                                                                         

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I live, work and play in Walnut Creek, CA!  For Real Estate and community information about this beautiful city as well as the surrounding areas, please visit my website at www.TerriAdamsScott.com

Terri Adams-Scott, REALTOR®

DRE# 01397740

J. Rockcliff Realtors

1700 N. Main St., Walnut Creek, CA   94596

Comments (3)

Kathy Burke
Sensational Home Staging~~Danville, CA - Danville, CA
S.F. East Bay Home Staging

Hoping for a GREAT 2011 for Walnut Creek.....and all of Contra Costa County!!

Happy New Year!

Dec 31, 2010 11:35 AM
Terri Adams-Scott
J. Rockcliff, REALTORS - Walnut Creek, CA
Realtor, Walnut Creek CA Real Estate

Kathy, best wishes for a successful and Happy New Year to you!

Jan 01, 2011 02:07 AM
Phil Hillerman
Crye-Leike Realtors® - Rogers, AR
Crye-Leike Realtors®

Hi Terri, Your market should really be picking up now. I hope you have a great spring season.

Apr 17, 2013 12:48 AM