Lafayette Q4 2021 Market Update

Lafayette 2021 Q4 Market Update MartinHomesTeam.com

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Lafayette 2021 Q4 Market Update MartinHomesTeam.com

• What Lies Ahead In 2022 – Forecasts are mixed primarily due to two major offsetting forces.

The potential impact from rising mortgage rates threatens to cool the market, while continued supply chain and labor concerns could push price appreciation even further. Goldman Sachs and Zillow remain fairly bullish. Goldman Sachs sees prices rising 16% by the end of 2022 while Zillow predicts home prices will rise 14% between October 2021 and October 2022. On the other hand, Redfin only sees price appreciation of 3% and estimates that rising rates will have a much larger impact on price. Only time will tell, but almost all major market predictions see prices rising in 2022.

Lamorinda Pandemic Price Appreciation + 27.6%

$500

Lafayette 2019

$823

$797 $655

$625

$645 2021

Orinda 2021H2 (last six months)

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SqFt

Price Per SQFT

List Price ($M)

Sold Price ($M)

Neighborhood Lafayette

183 $2.18 $2.01 $874 2572

Burton Valley Elementary Burton Valley Laf. Valley Estates Saranap / Condit Trails

61 32 4 15 10

$2.08 $2.07 $1.89 $1.93 $2.45

$1.92 $1.91 $1.66 $1.80 $2.25

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

54 8 14 10 22

$2.57 $3.84 $1.96 $2.00 $2.76

$2.41 $871 3023 $3.82 $964 4054 $1.84 $846 2472 $1.79 $738 2683 $2.55 $913 3153

Lafayette Elementary Downtown Silver Springs Trails

33 18 1 14

$1.90 $1.66 $930 2127 $1.99 $1.77 $883 2364 $2.21 $2.00 $902 2449 $1.78 $1.51 $993 1800

Springhill Elementary Acalanes Baywood Reliez Valley Springhill

35 6 1 20 8

$2.00 $1.37 $2.90 $1.91 $2.56

$1.86 $1.28 $2.60 $1.80 $2.37

$895 $901 $1,021 $807 $958

$788 $883 $820 $729 $861

Erin Martin 925.951.3817 Erin@MartinHomesTeam.com CalDRE#01922810

Darrick Martin Moraga

2020

$782

$767

+ 28.1%

$610

$600

$874

$840

$700

+ 31.8%

$730

$800

$685

Avg. Sales Price Per SQFT

$900

Lafayette Averages By School & Neighborhood Last Six Months

# of Home Sales

• Pandemic Price Appreciation – In looking at the average sales price per sqft for the last six months in Lafayette, prices have since risen by 28% over 2019 figures. Moraga prices are also up 28% over the same period, while Orinda has increased by 32%. The chart below summarizes how Lamorinda prices have increased since the start of the pandemic.

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

PRSRT STD ECRWSS U.S. POSTAGE PAID EDDM RETAIL

2407 2399 1825 2397 2680

2585 1567 3537 2649 3071