Walnut Creek Market Update

Walnut Creek Home Values

Home values in our area have gone up 20.3% in the past 12 months and predictions show a continuous rise in the market for the next year even though their is a slight dip at the beginning of this year. The median price per sqft in Walnut Creek is $361, which is slightly lower than for San Francisco, which is at $377.

Foreclosure numbers

Foreclosures will still be impacting the area for years to come unfortunately. In our neighborhood, 0.8 homes are foreclosed out of 10,000. Compared to the national average – which stands at 5.1% – however Walnut Creek has one of the lowest foreclosure rates.

Delinquent Mortgages

Delinquent mortgages are the first indicators of future foreclosure numbers. Walnut Creek is at 3.7% compared to the 8% national average. During 2007 and 2011 home values in the U.S. have fallen more than 20%,  which resulted many homeowners to get  underwater. Being underwater means that the homeowner owes more on their property than they purchased it for.  Currently about 7.5% of Walnut Creek homeowners are underwater on their mortgage.

If you would like to find out the current value of your home, send me an email to sam@realestate680.com to receive a complimentary market analysis.

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