Walnut Creek homes are selling for more money
Walnut Creek neighborhoods are seeing a 32% year-over-year increase in median sales price according to figures by Dataquick. In the month of February the median sales price was $311,000 compared to $235,000 a year ago. What does this mean? It simply means that when there is a shortage of supply and it outstrips demand, prices go up. With very low mortgage rates and a tight supply, the stage is set for price gains. This is good news for those of you who are thinking about selling your home.
Take advantage of Spring
Once spring arrives we all start feeling like something new is about to start. The flowers are blooming, the colder days are behind us and we feel we can take on the world. It is not a coincidence that spring is when people start to feel that familiar itch to move. If you read my latest post on my Facebook page, the “4 Essential Things You Need To Know About The 2013 Spring Home Buying Season” written by Forbes than you already know that springtime is for selling houses. The article points out that the months of April, May, June and July typically account for more than 40% of all housing transactions annually.
People feel more confident
The economic crisis and the recession has taken a toll on us but it seems that people are now feeling more confident about the economy. What does this mean to Walnut Creek neighborhoods? This year will be different from the last couple of years as we are shifting from a buyer’s market to a seller’s market. With low supply and with an increasing demand, houses sell much quicker and it is not unusual to see bidding wars. The number of available homes is at record lows due to the small supply of existing homes for sale and the scarcity of new constructions.
Walnut Creek weekly market report
If you would like to continuously learn more about the conditions of Walnut Creek real estate, than sign up to my weekly market reports at the bottom of the page. The report includes statistics, prices, trends and changes in supply and demand. All information are up to date and tailored to inform you of the most recent data.