Orinda 2020 Q4 Market Update MartinHomesTeam.com
Now You Can Keep Your Tax Basis When You Move! California homeowners just got more good news that should help propel the spring market with the passage of Proposition 19. Important for Orinda, Proposition 19 allows homeowners 55 years of age and older to transfer their tax basis anywhere in the state and even to a more expensive home. Previously, homeowners 55 years of age or older could only transfer their tax assessments within certain counties to homes of equal or lesser value on a one-time basis. Proposition 19 now allows homeowners to transfer their tax assessments anywhere within the state and enables tax assessments to transfer to more expensive homes with an upward adjustment. Proposition 19 provides the flexibility for homeowners to downsize or find a home that better suits their needs without the burden of worrying about increased property taxes.
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Orinda 2020 Q4 Market Update MartinHomesTeam.com
• The average home sold in Orinda is almost $2 million - For the last six months of 2020 the average home sold in Orinda was $1.93 million and average price per square foot was $685, up 10% over 2019
Redfin CEO
– “2021 will see more home sales than any year since 2006. Annual sales growth will increase from 5% in 2020 to over 10% in 2021” - Daryl Fairweather, Redfin Chief Economist
– “Home sales surprised with a surge in the second half of 2020 and the momentum will carry into 2021” - Lawrence Yun, National Association of Realtors Chief Economist
– “Above-consensus global growth of 6.3% in 2021” - Goldman Sachs – “Strong global GDP growth of 6.4% for 2021” - Morgan Stanley • Here is a summary of the rest of Lamorinda – Orinda and Lafayette have similar metrics with Orinda having a slightly higher home size. Both Orinda and Lafayette continue to outpace Moraga Lamorinda Averages (last six months) # of Home Sold Price List Price Price Per Sales ($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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197 $1.93 $1.89
$685 2881
302 $1.89 $1.86
SqFt
Price Per SQFT
List Price ($M)
Sold Price ($M)
# of Home Sales
SqFt
Price Per SQFT
List Price ($M)
Neighborhood Orinda
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,
Orinda Averages By School & Neighborhood Last Six Months Last Twelve Months
$673 2867
Del Rey Elementary Crest View/Lost Valley Del Rey Glorietta Ivy Drive
41 12 12 5 12
Glorietta Elementary Downtown Glorietta
47 $1.90 $1.83 13 $2.02 $2.00 34 $1.85 $1.76
$714 2708 $698 2966 $720 2609
68 $1.85 $1.80 25 $1.84 $1.83 43 $1.85 $1.77
$693 2716 $683 2763 $699 2688
Sleepy Hollow Elementary Charles Hill Orinda Country Club Orinda Downs Sleepy Hollow
40 16 5 6 13
$2.36 $2.33 $2.89 $2.89 $1.50 $1.52 $2.40 $2.38 $2.02 $1.94
$676 $721 $587 $626 $679
3462 3980 2589 3853 2980
70 20 9 12 29
$2.27 $2.23 $2.65 $2.63 $1.70 $1.71 $2.79 $2.80 $1.97 $1.89
$671 $689 $575 $670 $689
3386 3827 2978 4107 2909
Wagner Ranch Elementary El Toyonal Oak Springs Orinda Country Club Orinda Grove Orinda Woods Wilder
69 23 13 20 1 3 9
$1.84 $1.82 $1.48 $1.43 $1.59 $1.54 $2.11 $2.11 $1.35 $1.35 $2.10 $2.04 $2.49 $2.56
$646 $645 $624 $664 $690 $696 $619
2929 2384 2620 3266 1954 3071 4082
103 33 19 28 3 5 15
$1.81 $1.81 $1.37 $1.33 $1.60 $1.54 $2.08 $2.09 $1.41 $1.40 $2.23 $2.21 $2.50 $2.61
$643 $640 $618 $649 $651 $741 $637
2886 2202 2658 3291 2185 3035 4016
$1.70 $1.65 $1.84 $1.84 $1.51 $1.43 $2.42 $2.36 $1.47 $1.38
$726 $667 $718 $733 $791
2431 2941 2158 3212 1868
61 19 14 12 16
$1.63 $1.58 $1.75 $1.73 $1.51 $1.44 $1.84 $1.80 $1.43 $1.35
$701 $645 $712 $677 $775
Erin Martin 925.951.3817 Erin@MartinHomesTeam.com CalDRE#01922810
Darrick Martin 925.900.8218 Darrick@MartinHomesTeam.com CalDRE#02006564 *****************ECRWSS***** Local Postal Customer
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2409 2869 2189 2646 1876