Lafayette 2022 Q3 Market Update MartinHomesTeam.com
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Lafayette 2022 Q3 Market Update MartinHomesTeam.com
• What Lies Ahead? – Over the last quarter we found that changing homebuyer confidence had just as much impact on market conditions as rising rates and declining tech stock prices. While buyers always express they wish there was less competition, there is great confidence in knowing that ten other people want the same property you desire. While the current news cycle might not be as optimistic, from our experience homebuyer attitudes tend to snap back quickly. In addition, it should give us confidence in knowing that 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.
Lafayette Pandemic Price Appreciation + 33.6%
$900
$700 $600
$730
$840
$800
2020
2021
2022Q1
2022Q2
2022Q3
We look forward to the opportunity to assist with your real estate goals
SqFt
List Price ($M)
Price Per SQFT
$915 2670
Burton Valley Elementary Burton Valley Laf. Valley Estates Saranap / Condit Trails
25 10 6 7 2
$2.02 $2.07 $1.98 $1.87 $2.39
$2.05 $953 $2.04 $976 $2.04 $896 $1.95 $942 $2.45 $1,042
Happy Valley Elementary Happy Valley Happy Valley Glen Hidden Valley Upper Happy Valley
15 4 2 4 5
$3.54 $5.90 $2.35 $1.90 $3.42
$3.51 $915 3947 $5.72 $1,082 5363 $2.05 $1,151 1986 $1.72 $869 2295 $3.78 $724 4919
Lafayette Elementary Downtown Silver Springs Trails
18 9 2 7
$2.02 $1.85 $3.01 $1.95
$1.98 $963 2147 $1.86 $858 2213 $2.88 $1,069 2837 $1.88 $1,067 1865
Springhill Elementary Acalanes Baywood Reliez Valley Springhill
19 1 1 11 6
$2.31 $1.77 $3.01 $2.39 $2.14
$2.34 $1.90 $3.01 $2.43 $2.12
$821 $720 $889 $835 $800
925.951.3817 / 925.900.8218 Erin@MartinHomesTeam.com Darrick@MartinHomesTeam.com DRE#01922810 / 02006564
Kaity De Souza
$500 2019
77 $2.39 $2.39
Erin & Darrick Martin $915
$1,022
$1,000
$1,047
+ 8.9%
$685
Avg. Sales Price Per SQFT
$1,100
Neighborhood Lafayette
Sold Price ($M)
• 2022 Q3 Results – After prices peaked in Q2 2022, Q3 results closed off the Spring market highs. While both transaction volumes and prices pulled back, it is important to understand the full story as the pull-back is not entirely due to changing market conditions. In addition to impact of rising mortgage rates and declining tech stock prices, Q3 is traditionally slower than the first two quarters of the year, where the number of homebuyers and recently updated inventory is the strongest. Also contributing to Q3 results were a higher number of larger home being sold, that traditionally sell for a lower price per square foot, in Q3 vs. Q2 (avg. sqft of 2,670 in Q3 vs. 2,465 in Q2).
# of Home Sales
Lafayette Averages By School & Neighborhood Q3 2022
Lafayette Prices Stabilize After Spring Market Highs
925.383.2353 Kaity@MartinHomesTeam.com DRE#02113390 *****************ECRWSS***** Local Postal Customer
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2164 2121 2188 2100 2535
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