Lafayette 2019 Q4 Market Update

Lafayette 2019 Q4 Market Update MartinHomesTeam.com

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Lafayette 2019 Q4 Market Update MartinHomesTeam.com

• 2019 delivered mixed results for Lafayette real estate. Lafayette’s average sales price is now $1.84M, up 3%, average sales price per square foot is $685, down 3%, and average days on market is 27 days, up 37%. The mixed results were driven by cautionary buyer sentiment from uncertain economic forecasts that hovered over most of 2019, disappointing IPO results from Uber and Lyft that failed to provide fuel for our real estate market and the composition of homes sold (compared to 2018, in 2019 larger less updated homes were sold) • 2020 predictions are bright. Despite the mixed 2019 results and cautionary sentiment that persisted in early 2019, most 2020 market predictions are bright • The stock market rallied 10% in Q4 and 29% for all of 2019 as concerns about 2020 economic uncertainty began to fade • Goldman Sachs is now forecasting 2020 US GDP growth of 2.3%, interest rates to remain at historical lows, fading concerns of global trade wars, reduced probability of recession (only 20% chance) and above-trend job gains • A stronger 2020 economic sentiment was evident in Lafayette in late November and December as many homes that remained on the market from the Fall sold with relatively strong results • Lafayette continues to outpace Moraga and Orinda. Moraga’s average sales price per square foot is $610, up 3%, and Orinda’s is $624, down 2% See the Market Update section of our website for the full report of our Lamorinda Q4 Market Update, Lafayette Q4 Home Sales Report and other Market Insights

Lafayette Averages By School & Neighborhood (last 12 months) # of Home Price Per Neighborhood Sold Price List Price Sales SQFT Lafayette 265 $1,839,375 $1,813,835 $685 Burton Valley Elementary Burton Valley Lafayette Valley Estates Saranap / Condit Trails

64 41 7 10 6

$1,596,716 $1,568,434 $1,635,286 $1,585,750 $1,763,250

$1,544,336 $1,494,366 $1,601,429 $1,560,400 $1,792,417

$709 $719 $727 $684 $660

2332 2254 2261 2471 2721

Lafayette Elementary Downtown Silver Springs Sky Hy Trails

64 $1,711,301 31 $1,640,156 4 $2,372,500 5 $1,784,484 24 $1,677,750

$1,674,594 $1,620,774 $2,193,750 $1,755,600 $1,640,708

$715 $710 $800 $576 $736

2456 2417 3151 3119 2252

Happy Valley Elementary Happy Valley Happy Valley Glen Hidden Valley Upper Happy Valley

60 12 17 13 18

$2,113,520 $2,104,933 $3,260,000 $3,347,000 $1,854,468 $1,788,294 $1,806,923 $1,817,462 $1,815,291 $1,783,556

$679 $720 $709 $622 $666

3194 4581 2760 3016 2807

77 14 4 47 12

$1,933,897 $1,372,340 $1,886,500 $2,117,085 $1,887,359

$644 $700 $537 $638 $638

3096 1999 3540 3370 3153

Springhill Elementary Acalanes Baywood Reliez Valley Table below is a summary of Multiple Listing Service (“MLS”) data for Lafayette residential detached Springhill home sales over the last twelve months from January 2019 to December 2019 (the prior-year comparison is from January 2018 to December 2018)

Home Size < 1,501 SQFT # of Transactions 20 -47.4% Sales Price Average $1,060,625 4.3% High $1,300,000 -3.6% Low $818,000 21.2% Sales Price Per SQFT Average $831 -0.3% High $972 -21.4% Low $637 28.4% Days on MLS Average 18 19.6% High 91 7.1% Low 2 NA

Lafayette Market Update Jan '19 - Dec '19 1,501 - 2,500 SQFT 2,501 - 3,500 SQFT 107 -13.7% 72 14.3% $1,419,717 $2,215,000 $900,000

SqFt 2779

$1,926,738 $1,334,429 $1,829,750 $2,122,804 $1,882,167

Erin Martin

> 3,500 SQFT 66 24.5%

Total 265 -4.7%

-0.5% $2,003,841 -38.5% $3,225,000 0.0% $1,140,000

8.2% 12.2% 42.3%

$2,576,295 $5,850,000 $1,250,000

-17.7% $1,839,375 2.6% -25.0% $5,850,000 -25.0% -21.6% $818,000 21.2%

$718 $952 $483

-0.2% -42.2% 13.7%

$675 $1,064 $376

8.4% 13.9% 18.9%

$598 $984 $342

-10.4% -7.8% -19.0%

$685 $1,064 $342

-2.6% -35.4% 8.4%

20 124 0

18.2% -0.8% NA

19 81 0

-15.1% -43.4% NA

51 262 0

86.8% 71.2% NA

27 262 0

37.1% 71.2% NA

925.951.3817 Erin@MartinHomesTeam.com CalBRE#01922810

Darrick Martin 925.900.8218 Darrick@MartinHomesTeam.com CalBRE#02006564 *****************ECRWSS***** Local Postal Customer

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