Lafayette Q2 2022 Market Update

Lafayette 2022 Q2 Market Update MartinHomesTeam.com

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Lafayette 2022 Q2 Market Update MartinHomesTeam.com

• How Far Have We Come? – 2022 Q2 average sales price per sqft in Lafayette is up 53% over prepandemic levels and up 25% over 2021.

• What Lies Ahead? – Towards the end of May and into June buyer traffic was not as strong compared to Q1. While this trend is seasonal as the spring market fades into summer, falling tech stock prices and rising mortgage rates began to be more prevalent in discussions with homebuyers. While no one holds the crystal ball into the future it is important to keep in mind today’s market dynamics (e.g. low inventory, moderate homeowner leverage levels, financial market stability, etc.) are much stronger than the last market pull-back over a decade ago. In addition, while the current news cycle might not be as optimistic, from our experience homebuyer attitudes tend to snap back quickly.

Lafayette Pandemic Price Appreciation + 52.9% + 24.6%

$1,047

$1,000 $900

$840 $730

$700 $600

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

29 10 4 10 5

$2.22 $2.44 $2.03 $1.84 $2.71

$1.93 $2.15 $1.65 $1.57 $2.43

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

37 7 9 4 17

$2.86 $3.30 $1.82 $2.19 $3.39

$2.58 $1,032 2812 $3.19 $986 3447 $1.49 $1,141 1617 $2.07 $845 2626 $3.03 $1,038 3227

Lafayette Elementary Downtown Silver Springs Trails

22 $2.30 $1.95 $1,137 2119 12 $2.32 $2.06 $989 2412 0 No sales 10 $2.27 $1.83 $1,314 1768

Springhill Elementary Acalanes Baywood Reliez Valley Springhill

17 3 0 10 4

$2.52 $1.67 $3.27 $2.62 $2.52

$1,034 $1,100 $1,095 $947 $1,029

2019

925.951.3817 Erin@MartinHomesTeam.com CalDRE#01922810 925.900.8218 Darrick@MartinHomesTeam.com CalDRE#02006564

2020

2021

2022Q2

We look forward to the opportunity to assist with your real estate needs

*****************ECRWSS***** Local Postal Customer

2186 2243 1870 1981 2737

$2.19 $993 2617 $1.37 $1,035 1633 $2.75 $977 3344 $2.31 $957 2862 $2.23 $1,059 2379

Darrick Martin

$500

SqFt

Price Per SQFT

List Price ($M)

105 $2.51 $2.21 $1,047 2465

Erin Martin

$800

$685

Avg. Sales Price Per SQFT

$1,100

Neighborhood Lafayette

Sold Price ($M)

• 2022 Q2 Results – The average price per sqft in Lafayette in Q2 increased 2.5% over 2022 Q1 to $1,047. While the average sold price in Q2 declined compared to Q1, this was the result of much larger homes being sold in Q1 vs. Q2 (avg. sqft of 2,960 in Q1 vs. 2,465 in Q2).

# of Home Sales

Lafayette Averages By School & Neighborhood Q2 2022

Lafayette Touches A New High of $1,047 Price Per Sqft

PRSRT STD ECRWSS U.S. POSTAGE PAID EDDM RETAIL