What is the house market (selling) in Walnut Creek, CA?

Asked by Brittney, Walnut Creek, CA Sat Nov 24, 2012

I bought the house 2 years ago and now we have to sell it due to the move. We updated the whole kitchen, new floor and backyard when we moved in. Thank you

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Todd Scheid’s answer
Todd Scheid, Agent, Walnut Creek, CA
Fri Jan 4, 2013
Hi Brittney,

I know you have received a lot of great answers but thought I would add my two cents. I am putting a home on the Market TODAY, it is in Walnut Creek (although it is zoned to Lafayette Schools which makes it a bit more valuable than most Walnut Creek homes.) I live in Walnut Creek (I moved from Lafayette 8 years ago) and while prices are still down, anything good that hits the market is getting multiple offers. If you updated the kitchen, you should be in good shape. Have you had a CMA done by a Professional Realtor?

Sincerely,

Todd Scheid
Alain Pinel Realtors
Todd@ScheidHomes.com
(925) 323-6150 cell
http://www.ScheidHomes.com
0 votes
Philip Cabral, Agent, San Jose, CA
Sat Dec 8, 2012
Hello Britney,

I have clients as far north as Fairfield and as far south as Los Gatos. I helped my sister purchase a home earlier this year in Walnut Creek and my experience is that the average price of homes in the SF Bay Area has gone up @ 5% just in the last three months.

And, since you updated the kitchen, installed new floor and backyard it looks like you have maximized the value of your home as much as you can in those two years.

I am an agent, but I am a homeowner first. I have purchased homes in California, Hawaii, and Portugal. Let's talk Real Estate. Let me know if I can be of any help.
0 votes
Darrell Clow, Agent, Walnut Creek, CA
Fri Nov 30, 2012
Brittney,
Likely your home would have gone up in value without any major improvements. That is what the market has done over the last two years, and most noticeably since the first of this year. The improvements you describe will no doubt increase its marketing potential and value. Kitchen remodels can be a very personal thing. The design and material selection will determine your return on investment. It's almost never 100%.

Regards,
Darrell Clow
Real Estate Broker Associate
DRE License # 00346046 Direct 925.952.9144
0 votes
Kristin Lanh…, Agent, Walnut Creek, CA
Mon Nov 26, 2012
As of today, there are only 31 active detached homes listed for sale in Walnut Creek. If the home is priced right for the condition and area, it should receive multiple offers. There are nuances depending on where in Walnut Creek as the school district plays a huge part in desire and price. Most sellers are concerned about putting a house on the market over the holidays and we traditionally have less activity.

This year doesn't follow that train of thought, interest rates are low, there are plenty of buyers and no inventory. Now is the time to put your home on the market before the spring frenzy. I suspect after the holidays and now that the election is over, we will see a loosening of some of the bank owned inventory, in addition to the regular spring selling. Multiple offers gives you options and the best type of financing/cash offers, as prices get bid up, you have to worry if the appraisal will come in. There are ways to navigate those offers so in the end you have a buyer who can complete the sale at the price you expected from the onset. If you would like to discuss further, please contact me @925.899.7123.

Kristin Lanham
Better Homes & Gardens
Walnut Creek Resident
Board Member Parkmead Community Association
Involved parent of senior @ Las Lomas High School
0 votes
DeAnn J Simp…, Agent, Walnut Creek, CA
Sun Nov 25, 2012
As always, Walnut Creek is hugely desirable area with multiple offers on nearly all property. Inventory is low; however many buyers are trying to purchase in Walnut Creek and take advantage of record low interest rates, so a perfect time to sell! I have been a broker in Walnut Creek for the past 28 years, and would welcome the opportunity to meet with you and offer my expertise in the sale of your home. Best regards, DeAnn 925/974-SOLD (7653)
0 votes
Darrell Clow, Agent, Walnut Creek, CA
Sun Nov 25, 2012
Hello Brittney,
Sorry for the delay, just returned from the Holiday. The answer is less than 30 days. Certain factors will of course influence the time line, but this is a good bench mark from which to determine your plans. My office is near by and I am very familiar with your neighborhood. I invite you to call me for a no obligation appointment and we can discuss in greater detail how best to meet your needs.

Best Regards,

Darrell Clow
Broker Associate
Better Homes And Gardens Mason McDuffie Real Estate
1555 Riviera Ave., Ste. E
Walnut Creek, Ca 94596
Direct 925.952.9144
0 votes
Judy Brown, Agent, Concord, CA
Sun Nov 25, 2012
Hello Brittney:

Presently Walnut Creek is a hot market with multiple offers on property. We have very little inventory and many buyers trying to purchase in this wonderful community and take advantage of the lower prices and record low interest rates, I have been a broker in Walnut Creek for the past 36 years. Please let me know if I can assist you in marketing your home.

Judy Brown
Better Homes Realty
925-946-9899
judybrown@sbcglobal.net
0 votes
Brian Sparr, Agent, Walnut Creek, CA
Sun Nov 25, 2012
Hi Brittney - here's some more detailed information for you about Walnut Creek's market ... hope it helps:
http://walnutcreek.patch.com/blog_posts/no-signs-yet-of-a-sl…
0 votes
Steven Ornel…, Agent, Fremont, CA
Sun Nov 25, 2012
Hi Brittney,

Below you will find a link to eight 2-year month-to-month statistical reports for Walnut Creek (zip 94598, detached single family resale homes) broken down by:

Sold Properties
Under Contract Properties
New Properties Listed
For Sale Properties
Expired Properties
Supply & Demand
Average Days on Market
Months Supply of Inventory

http://docs.Steven-Anthony.com/WC94598-Oct10-12detached.pdf

Referring the last chart, "Months Supply of Inventory", like many Bay Area Cities, Demand is out-stripping available Supply. Over the last two years (Oct 2010 - Oct 2012) the supply of inventory hit a low point of less than one month supply this August. While supply was under 1 month during July-Sep 2012, Oct provided 3 months’ supply - I guess we'll see what November provides us.

Simply put, the combination of low supply coupled with historically low interest rates has delivered a strong Seller's Market.

If you are seriously considering placing your home for sale work with a licensed Realtor® who can prepare a Comparative Market Analysis (CMA), which other than an actual appraisal is the "gold standard" for approximating market value.

I would highly recommend you avoid Zillow or any other online AVM (Automated Value Method) services that just looks at "the numbers" of each home (primarily square footage, beds, baths, etc.) and makes a rough estimate of value based on sold properties without the benefit of taking into consideration improvements and other value-increasing attributes. Please see: “Zillow & Darts” http://tinyurl.com/chgarwb

-Steve
0 votes
jaime, Home Buyer, Walnut Creek, CA
Sun Nov 25, 2012
i am looking to buy in walnut creek and would love to see pictures of your home. thanks!
0 votes
I am putting a house on the market today that is in Walnut Creek but is zoned to Lafayette Schools which is even better. Let me know if you would like more information.

Todd Scheid
Alain Pinel Realtors
Todd@ScheidHomes.com
(925) 323-6150 cell
Flag Fri Jan 4, 2013
Bryce Schum…, Agent, Lafayette, CA
Sun Nov 25, 2012
Hi Brittney,

All the information below is correct and the opinions are accurate. The supply and demand of simple economics, historic low interest rates, combined with the reduction in foreclosure inventory, have made a moderate rise in prices over the past year. The updates you have done are key selling points if you are thinking of putting your home on the market. Landscaping, kitchen, flooring and bathrooms all are a great return on your investment. The spring may bring out more buyers, however, if you want to truly be in front of the market, now may be the time to see what your home would sell for on the market.

If you would like a free market analysis let me know. I'd be happy to assist.

Regards,

Bryce Schumacher
Pacific Union International - Lafayette
925.457.4096
0 votes
Bernard Gibb…, Agent, Danville, CA
Sun Nov 25, 2012
All good answers below. It may also be worth pointing out that many people put off selling until spring in the belief that thara will be more people looking to buy then. This is true to some extent but it also means that you have more competition. Right now, there are many more buyers than homes for sale in Walnut Creek. If I were you, I may wait until January (just to avoid disruption over the Holidays) but I wouldn't wit any longer.

Bernard Gibbons
J Rockcliff Realtors
Web Reference:  http://bernardgibbons.com
0 votes
The Medford…, Agent, Fremont, CA
Sun Nov 25, 2012
The average sold price in October, 2010 for a single family home in Walnut Creek was $690,000. At the end of October, 2012, it had risen to $764,000. In 10/2010 there were 100 homes on the market – at the end of 10/12 there were only 36. As stated below, we are currently in a seller’s market due to lack of inventory and, as a seller, you are firmly in the driver’s seat.

It sounds like you’ve done the types of improvements that will make your home even more attractive and saleable. You should have no problem selling your home and actually coming ahead of when you bought, even when you factor in the fees for selling.
0 votes
Steve Dawson, , Walnut Creek, CA
Sat Nov 24, 2012
Brittney. Many homes are selling over asking with few days on the market and multiple offers. There is very little inventory and rates are still low. This makes it a seller's market right now. I would be glad to give you a market analysis and give you a more specific idea of value for your home if you would like. Have a great day.
Web Reference:  http://www.brokerdawson.com
0 votes
Christy Brock, Agent, Alameda, CA
Sat Nov 24, 2012
It is a seller's market. A home in very good condition that has been updated and has a low pest report should sell quickly if priced correctly. Your Realtor should be able to show you what comparable homes are selling for in your area and arrange a plan to sell your home.
0 votes
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