The median list price in WALNUT CREEK, CA this week is $779,000. The 63 properties have been on the market for an average of 81 days. In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory.
However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the Market Action Index or MAI. MAI answers the question “How’s the Market?” by measuring the current rate of sale versus the amount of the inventory.
This week prices bumped up a bit but the trend of recent weeks is generally downward. One can see the congruence betweeen the MAI and median list price, which is helpful for determining an optimal buying or selling market. A pickup in demand will be reflected in the Market Action Index, this statistic for crucial market trends can be monitored by following the steps below. If the market heats up, prices are likely to…
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