$1 million for a Condo!!!!!!

Only a few years ago, Walnut Creek was in the country and a haven for those seeking to reduce housing costs. But Now....

Walnut Creek feels like a millionBy Theresa HarringtonCONTRA COSTA TIMES
When Tiffany and Co. opened in downtown Walnut Creek in 2003, the city attained star status as an up-and-coming urban community beginning to rival San Francisco with its shopping and dining choices.
Now, Walnut Creek is upping the ante with luxury condominiums for people who want an urban atmosphere in a suburban area, priced as high as $1.3 million.
"Who'd have thought that you'd be paying $1 million for a condo in downtown Walnut Creek?" Mayor Sue Rainey said with a laugh. "I think that is a stunning surprise."
Although the housing market is considered to be slumping, the Mercer luxury condo project under construction on North California Boulevard is defying the odds by selling 17 of its 23 three-bedroom units, costing $1.1 million to $1.3 million, before they're even built. The project expects to open in the fall.
"The pricing is consistent with the demand for this type of living experience," said developer Jon Moss, senior vice president of Prometheus Real Estate. "It's a very unique environment. The retail in Walnut Creek is second to none in the East Bay."
Similar San Francisco condos cost about twice as much per square foot as the Mercer, Moss said.