The data for residential real estate sales in Walnut Creek in July 2006 are something of a puzzle. Inventory is not too bad, at 4.4 months. Average days on market are up from 12 to 18, but that latter number is hardly the end of the world.
The strangest thing about the numbers is that the average home size for sold homes has shrunk 27%, from 1747 square feet in July of 2005 to 1270 square feet in 2006. As a result, we’re presented with a situation in which price per square foot has gone up 25%, while the median sale price is down by 14%!
Expireds are not especially high in Walnut Creek, with the expired to sold ratio currently at 27.8%.
The average home that sold in Walnut Creek in July 2006 fetched a hefty $570 per square foot, listing at $730,585 and selling at $723,859. The median sale price was $672,000.