The Walnut Creek real estate market, located in the greater San Francisco Bay region, has seen a few encouraging signs in the past few months, pointing to indications that the market may finally be on its way back to recovering from the price slashes suffered from the bursting of the U.S. housing market bubble and the economic crisis.
According to statistics in the Contra Costa Times, in the week ending Oct. 25, 2009, there were 15 home sales in Walnut Creek. The prices of the real estate in Walnut Creek that sold range from $159,500 to $886,000. The median sale price was $400,000, while the average sale price was $430,400. Much of the increased activity in homes for sale in Walnut Creek can likely be attributed to those wanting to take advantage of the opportunity to buy a home while they are still eligible for the government's tax credit for certain first-time home buyers who meet eligibility requirements.
Home sales were up in the Bay Area during September, as were sale prices, as nearly 8,000 homes and condos were sold, an increase of 4.8% from August and up by 8.4% from September 2008, according to the Contra Costa Times. The median price was $365,000 for the whole of the Bay region, a 1.4% gain from August but 8.8% lower than 2008's September prices. In Contra Costa County, in which Walnut Creek is located, 1,607 homes were sold in September, up from 1,587 in August but almost 10% lower than sales in September 2008. The median price for a home sale in the county was $262,000, a drop of 12.7%.