Lafayette Q4 2022 Market Update

Page 1

Lafayette 2022 Q4 Market Update MartinHomesTeam.com

Unlike other real estate teams, we are also licensed general contractors with a skilled full-time crew ready to prepare your home for sale

We are honored to be repeat LPIE Diamond Sponsors


Lafayette 2022 Q4 Market Update MartinHomesTeam.com

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

• What Lies Ahead? – If recent history repeats itself, the length of the current market pullback should end in the first half of 2023. This is consistent with when most economists believe inflation will be fully Happy Valley Elementary under control. In addition, it should give us confidence in knowing that today’s market dynamics (e.g. Happy Valley low inventory, moderate homeowner leverage levels, financial market stability, etc.) are much stronger Happy Valley Glen than the last market pull-back over a decade ago. According to the most recent Goldman Sachs Marco Hidden Valley 2023 Outlook, “The US should narrowly avoid recession”, “…. this cycle is different from prior highUpper Happy Valley inflation periods .... long-term inflation expectations remain well-anchored”, & “…. we now see the Fed Lafayette Elementary raising rates to Historical Bay Area Home Values Downtown peak at 5 800% Silver Springs 5.25%.” While Trails Over the last 35+ years in the Bay Area no one can expansionary periods have averaged 8 700% Rising Springhill Elementary predict the Inflation years while contractionary periods have Acalanes future, we averaged 2 years. In recent contractionary Baywood anticipate our 600% makrets, corrections have been 1-2 years as -11% +180% Reliez Valley 1 yr 13 yrs capital markets are more efficient. real estate Springhill market will end 500% Erin & Darrick Martin on stronger 925.951.3817 / 925.900.8218 footing in 2023 400% Erin@MartinHomesTeam.com Darrick@MartinHomesTeam.com compared to Great DRE#01922810 / 02006564 where we stand 300% Recession -29% today. We look Kaity De Souza 2 yr -11% +57% 925.383.2353 forward to 1 yr 5 yrs 200% Kaity@MartinHomesTeam.com hearing from DRE#02113390 SF +110% you with your Dotcom Earthquake 7 yrs 100% Bubble -12% real estate 90's Recession *****************ECRWSS***** 4 yrs questions Local 0%

Source: Case Shiller Bay Area High Price Home Index. 2022 data thru Oct

Postal Customer

SqFt

Price Per SQFT

List Price ($M)

Neighborhood Lafayette

Sold Price ($M)

• 2022 Q4 Results – After prices peaked in Q2 2022, the second half results closed off the Spring market highs. While rising mortgage rates and declining tech stock prices negatively impacted prices, the second half of the year is traditionally slower than the first half as homebuyers are eager to get into their new home before school enrollment. In addition, in market pullbacks there are traditionally fewer recently updated homes that sell compared to expansionary periods where sellers can best take advantage of market conditions. This trend further exacerbates results in contractionary markets.

# of Home Sales

Lafayette Averages By School & Neighborhood Last Six Months

Lafayette Prices Stabilize After Spring Market Highs

131 $2.26 $2.26

$872 2621

43 16 7 17 3

$1.99 $2.25 $1.88 $1.76 $2.16

$2.01 $2.21 $1.94 $1.82 $2.18

$901 $985 $889 $837 $843

30 7 5 9 9

$3.16 $5.48 $2.17 $1.88 $3.18

$3.14 $855 3658 $5.39 $1,058 5151 $2.06 $793 3044 $1.76 $774 2499 $3.37 $814 3998

27 15 3 9

$1.88 $1.64 $2.73 $2.01

$1.86 $934 $1.64 $833 $2.67 $978 $1.95 $1,089

2082 2061 2802 1877

31 1 1 22 7

$2.09 $1.77 $3.01 $2.05 $2.12

$2.12 $1.90 $3.01 $2.09 $2.10

2655 2453 3384 2637 2636

$795 $720 $889 $793 $800

PRSRT STD ECRWSS U.S. POSTAGE PAID EDDM RETAIL

2212 2187 2087 2155 2963


Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.