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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