Update on the Danville, Alamo, and Walnut Creek Markets

Today I wanted to give you a closer look at how the markets in Danville, Alamo, and Walnut Creek are doing.

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Today I wanted to give you a quick update on three of our favorite cities: Alamo, Danville, and Walnut Creek. Walnut Creek is one of the best cities on Earth; I personally live there. It's like the biggest little city here in the East Bay, and it has a health score of 86 out of 100. They have about 1.8 months of inventory, an average of 50 days on market, and the average price for a home is $608,000 with 94 homes for sale. If you're looking to buy or sell here, you want to get a move on sooner rather than later. The median price is down just 1%, but price reductions are down 52%, meaning a little over half the homes have had a price reduction. That tells us that there's a price correction happening and buyers are tired of getting beat up by sellers. Alamo, just south of Walnut Creek on the 680 freeway, is where I grew up and it's a very high-end neighborhood here in the East Bay. It has a health score of 80, so it's a very healthy market and three months of inventory with 24 homes for sale. The average price is $1,619,400 with an average of 71 days on market. That's a high price, but you get a lot for your money. I should know—I was raised there! That median price, though, is actually down 15.8%, and 62% of homes listed took a price reduction.

When it comes to market reports, there are thousands of things we can talk about.

Again, we're seeing that buyers are revolting against sellers price-gouging them, and the sellers have to comply. That's not a bad thing because our market needs to correct. Danville is just south of Alamo, and of the three cities, it's the healthiest with a score of 95. We have just 1.4 months of inventory and the average days on market is 51. The average price is $1,296,950 and we have 46 homes listed for sale. The average price here is up 3% in the last 30 days and only 28.6% of homes have taken a price reduction. When it comes to market reports, there are thousands of things we can talk about, and they shift on a daily basis. If you have any questions about your specific area or an area you're interested in, give me a call for a conversation about the important factors in that area at any given time. If you have any other questions at all, give me a call or send me an email anytime. I'd be glad to help!