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:
Under Contract Properties
New Properties Listed
For Sale Properties
Supply & Demand
Average Days on Market
Months Supply of Inventory
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 monthsâ€™ 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 RealtorÂ® 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: â€œZillow & Dartsâ€ http://tinyurl.com/chgarwb