In the last few weeks, I’ve had both a home at 2227 La Salle and one at 5557 Plaza Nogal close. They both went on the market within a couple of weeks of each other, one in Walnut Creek and one in Concord. Given the current market right now, I thought it would be interesting to share the dichotomy of offers, nearby schools, etc. that may have led to the closings.
Plaza Nogal is in Concord, was listed at $995,000, and had nine offers; the winning offer closed at $1,290,000 after nine days on the market. They were the busiest open houses I have had in a long time. One potential buyer pointed out that listed under “great schools,” the high school was Northgate. I was very surprised as Northgate is in Walnut Creek, but is part of the Mt. Diablo School District. At that price point and near Northgate High, we had a lot of interested buyers. Clayton Valley High School, which is less than two miles away, chartered out of the Mt. Diablo School District. But it became a very popular option and anybody in the district can apply there, or go to Northgate.
LaSalle is in Walnut Creek but happens to also be in the Mt. Diablo School District and was zoned for Ygnacio Valley High School, a very low-scoring middle school, and the very desirable Bancroft Elementary School. Some people apply to Foothill Middle School and Northgate High School and may get accepted if there are enough spots available after all the kids who live in the neighborhood boundary of Northgate get in. We listed LaSalle at $1,280,000, were on the market for six days, and received one offer at our exact asking price.
With a low inventory market and higher interest rates than in the past 12 years, homes near good schools will prevail. Walnut Creek tends to be higher priced than Concord, but closer to freeways, which offers less commute time. However, high school ratings are a huge factor overall in price and buyer desire. Even though part of Walnut Creek is in the Mount Diablo School District instead of the Walnut Creek School District/Acalanes, the schools in Walnut Creek tend to have higher test scores. Is this because it is a more affluent neighborhood? Do families get more involved in their children’s education? Or is it something else? I just find this trend, overall, to be very interesting.