Lafayette 2020 Q4 Market Update MartinHomesTeam.com
• The average home sold in Lafayette is now above $2.0 million - For the last six months of 2020 the average home sold in Lafayette was $2.03 million and average price per square foot was $746, up 9% over 2019
Redfin CEO
– “2021 will see more home sales than any year since 2006. Annual sales growth will increase from 5% in 2020 to over 10% in 2021” - Daryl Fairweather, Redfin Chief Economist
– “Home sales surprised with a surge in the second half of 2020 and the momentum will carry into 2021” - Lawrence Yun, National Association of Realtors Chief Economist
– “Above-consensus global growth of 6.3% in 2021” - Goldman Sachs – “Strong global GDP growth of 6.4% for 2021” - Morgan Stanley • Here is a summary of the rest of Lamorinda – Lafayette continues to lead on average sold price and price per square feet. Moraga’s average size home is a bit smaller and Orinda’s is a bit larger than Lafayette Lamorinda Averages (last six months) # of Home Sold Price List Price Price Per Sales ($M) ($M) SQFT SqFt Lamorinda 518 $1.90 $1.86 $704 2769 Lafayette
214
$2.03
$1.97
$746
2797
Moraga
107
$1.60
$1.56
$655
2507
Orinda
197
$1.93
$1.89
$685
2881
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214 $2.03 $1.97 $746 2797
SqFt
Price Per SQFT
List Price ($M)
Sold Price ($M)
# of Home Sales
SqFt
Price Per SQFT
List Price ($M)
Neighborhood Lafayette
Sold Price ($M)
# of Home Sales
• Here is What Market Leaders are Saying About the 2021 Market – “I believe the market will continue to be robust through January and into 2021. We don’t see any reason why this higher level of demand and activity should decrease any time soon” - Robert Reffkin, Compass CEO – “We expect to see the housing market continue its bull run from this summer and autumn well into 2021. Home value appreciation will approach 9% or even 10% by July” - Jeff Tucker, Zillow Senior Economist – “Every week I think it can’t get crazier, it gets crazier” - Glenn Kelman,
Lafayette Averages By School & Neighborhood Last Twelve Months Last Six Months
308 $1.98 $1.94 $730 2798
Burton Valley Elementary Burton Valley Laf. Valley Estates Saranap / Condit Trails
61 38 2 12 9
$1.76 $1.74 $1.17 $1.63 $2.15
$1.70 $758 2406 $1.69 $757 2376 $1.12 $871 1384 $1.59 $710 2303 $2.07 $802 2895
86 53 6 17 10
$1.76 $1.71 $1.51 $1.71 $2.24
$1.71 $747 2434 $1.67 $747 2372 $1.44 $828 1856 $1.67 $693 2478 $2.18 $793 3035
Happy Valley Elementary Happy Valley Happy Valley Glen Hidden Valley Upper Happy Valley
67 15 14 9 29
$2.42 $3.43 $2.03 $1.73 $2.29
$2.34 $778 3148 $3.33 $858 4064 $1.96 $822 2432 $1.67 $714 2470 $2.22 $736 3230
95 20 17 17 41
$2.33 $3.34 $2.08 $1.70 $2.21
$2.28 $755 3142 $3.28 $851 3957 $2.04 $774 2750 $1.67 $670 2610 $2.15 $739 3148
Lafayette Elementary Downtown Silver Springs Trails
28 20 3 5
$1.64 $1.61 $2.97 $1.62
$1.58 $771 $1.58 $783 $2.83 $873 $1.50 $689
2250 2228 3480 2321
43 33 3 7
$1.62 $1.59 $2.97 $1.69
$1.57 $753 2288 $1.56 $762 2242 $2.83 $873 3480 $1.57 $684 2495
Springhill Elementary Acalanes Baywood Reliez Valley Springhill
58 12 3 33 10
$2.00 $1.59 $2.37 $2.15 $1.87
$1.97 $680 3004 $1.53 $793 2140 $2.30 $653 3626 $2.12 $629 3389 $1.91 $722 2587
84 16 6 48 14
$1.96 $1.56 $2.25 $2.08 $1.86
$1.94 $671 3006 $1.50 $787 2082 $2.22 $602 3773 $2.07 $617 3357 $1.88 $750 2528
Erin Martin 925.951.3817 Erin@MartinHomesTeam.com CalDRE#01922810
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