March Real Estate Update

California has the nation’s tightest supply conditions, according to a January report from John Burns Real Estate Consulting. San Jose, Los Angeles, and San Diego are among the nation’s five most under supplied markets relative to population growth. Currently, the state is only building one new housing community for every 27,300 residents.

As for Walnut Creek, the median sale price went up year on year by 15% from $1,540,000 to $1,775,000.
Sold properties were down year over year by 10% from 10 to 9.
Properties under contract went up year over year by 24% from 17 to 21.
New properties went down year over year by 7% from 30 to 28.
For sale properties also went down year over year by 14% from 57 to 49.
Expired properties went down by 71% from 7 to 2.
The average days on the market went down by 50% from 41 to 21.

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