Walnut Creek Real Estate Insights - December 2024

Buyers Gain Ground as the Market Balances—What It Means for You.

Staying informed about Walnut Creek’s real estate market has never been more crucial. As we close out 2024, the data reveals shifting dynamics, offering both new opportunities for buyers and strong outcomes for sellers who act strategically.

In this report, we’ll break down the key trends, provide updated Buyer and Seller Scores, and highlight actionable takeaways that Real Estate Professionals can use to engage clients and make informed decisions.


Market Overview

The Walnut Creek real estate market is entering a transitional phase. While sellers still enjoy a slight edge, buyers are gaining ground thanks to growing inventory, extended days on market, and more room to negotiate.

General Market Conditions:

  • The average home sits on the market longer (up from 13 to 19 days).

  • Sales prices show mixed results, with some declines year-over-year but stability in premium neighborhoods.

  • Inventory has improved by 8-10% compared to last year.

Bottom Line: The market is balancing, making it critical for buyers and sellers to strategize effectively.

Current Market Trends

1. Price Movements Show Mixed Results

  • Redfin: Median sale price is $829,000 – down 8.6% YoY.

  • Zillow: Average home value is $1,108,528 – up 1.3% YoY.

  • Realtor: Median listing price fell to $699,000, a 13.2% decline year-over-year.

Analysis: While price drops create opportunities for buyers, sellers in premium neighborhoods continue to see stability.

2. Inventory Growth Benefits Buyers

  • Active Listings: 342 homes for sale (Zillow), up 8-10% YoY.

  • New Listings: 132 new homes entered the market in October 2024.

Impact: More inventory equals reduced competition, improving buyer leverage.

3. Extended Days on Market Favor Buyers

  • Redfin: Average days on market rose to 19 days (from 13).

  • Realtor: Some homes linger up to 39 days, signaling buyer caution.

Trend: Buyers have more time to negotiate, inspect, and secure favorable terms.

3 Top Takeaways

More Inventory, More Opportunity for Buyers

Buyers benefit from increased inventory and reduced pressure to make rushed decisions.

Sellers Must Price and Prepare Strategically

Sellers need to be competitive to stand out in a more balanced market.

Market Balance Offers Wins for Both Sides

The slight shift creates advantages for buyers while still providing sellers with leverage in premium areas.

Seller and Buyer Scores: Where We Stand

Buyer Score: 58

  • Rising Inventory: More homes on the market mean more options and less competition.

  • Extended DOM: Longer selling times provide opportunities for negotiation and contingencies.

  • Strategic Buying: Buyers can leverage current conditions to secure better terms and pricing.

Seller Score: 65

  • Sustained Demand: Premium neighborhoods remain strong, with homes receiving multiple offers.

  • Sale-to-List Ratios: Sellers continue to achieve 100.5% of asking price on average.

  • Presentation is Key: Sellers who price strategically and prepare homes well still attract competitive offers.

Implications: The market is shifting closer to balance. Sellers need to act proactively, while buyers can capitalize on improved conditions.

Market Outlook: What’s Next?

As we enter early 2025, expect these trends to continue:

  • Inventory: Gradual increases will empower buyers.

  • Interest Rates: Mortgage rates are likely to stabilize near 6.5%, maintaining buyer activity.

  • Buyer Leverage: The Buyer Score may climb to 60 if inventory continues to improve.

  • Seller Strength: The Seller Score could dip slightly to 62, reflecting a more balanced market.

Takeaway: The market is likely to favor prepared sellers and confident buyers who act strategically.

Utilizing This Content – Marketing Messaging

Here are three data-driven messages for your marketing and social media posts:

“More Homes, More Options for Buyers 🏠”
“Inventory is up 10%, and homes are staying on the market longer—giving buyers the chance to negotiate better deals and lock in terms that work for them.”

“Sellers: Strategic Pricing Wins in Today’s Market 💡”
“Buyers are taking their time, but sellers in premium neighborhoods still hold an advantage. Price it right, present it well, and you’ll attract strong offers.”

“Market Balance = Opportunities for Everyone 🤝”
“The Walnut Creek market is shifting toward balance. Buyers gain leverage with more choices, while sellers still enjoy strong demand in key areas.”

Use these insights in your newsletters, social media, or client conversations to show your expertise and deliver value.

The Walnut Creek real estate market in December 2024 reflects a shift toward balance. Buyers are gaining ground with more inventory, longer market times, and reduced competition, while sellers can still capitalize on demand by acting strategically.

For buyers, now is the time to explore options, negotiate better terms, and secure the home you want. For sellers, competitive pricing, strong presentation, and proactive strategies remain key to maximizing results.

Partner with Realty One Elite

Whether you’re buying or selling, Realty One Elite offers the professional guidance, data-backed insights, and strategic expertise you need to make confident decisions.

Have questions or need help navigating this market? Contact us today and let’s build your winning strategy.


Additional Resources:

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