Lafayette 2020 Q1 Market Update

Lafayette 2020 Q1 Market Update MartinHomesTeam.com

Lafayette During a time when home means everything... and we are all adapting and opening our hearts, our thoughts and prayers are with the community we are so proud to be a part of.

We are here for you if you need groceries delivered, a leaky faucet fixed or someone to listen. We look forward to returning to hugging friends, little league games and the joyful voices of kids back at school.

Lafayette 2020 Q1 Market Update MartinHomesTeam.com

How will Covid-19 impact Lafayette real estate? There are a few important trends to keep in mind as we all navigate these uncharted times

• Pre Covid-19, the Spring market was as strong as ever. Before Covid-19, • • • •

•

our Spring market was robust with record demand Homes continue to sell during Covid-19. People continue to need a place to live and albeit at a slower pace, homes are selling in the current environment While the short-term impact is unknown, the brightest and best minds in the world are all focused on making sure we get back to normal as fast as possible There will always be excess demand for Lafayette. Great schools, a deeprooted sense of family, a quaint but sophisticated downtown and access to outdoors will always attract homebuyers to our hometown The Suburbs will be in demand. A permanent shift is developing among large companies proving that employees can efficiently work and effectively communicate while working from home. This will undoubtedly place a premium on Lafayette as more and more families place a higher value on space, yard and quality of life versus commute time Record low mortgage rates will persist. As we recover the government will likely highly incentive homebuyers and investors to deploy capital with record low mortgage rates and potentially negative interest rates. These factors will continue to make real estate a great long-term investment

Lafayette Averages By School & Neighborhood (last 12 months) # of Home Price Per Neighborhood Sales Sold Price List Price SQFT Lafayette 255 $1,817,093 $1,793,242 $682 Burton Valley Elementary Burton Valley Lafayette Valley Estates Saranap / Condit Trails

65 $1,662,412 39 $1,595,892 7 $1,545,000 12 $1,781,042 7 $1,947,071

Lafayette Elementary Downtown Silver Springs Sky Hy Trails

60 29 3 4 24

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

Springhill Elementary Acalanes Baywood Reliez Valley Table below is a summary of Multiple Listing Service (“MLS”) data for Lafayette residential detached Springhill home sales over the last twelve months from April 2019 to March 2020 (the prior-year comparison is from April 2018 to March 2019)

< 1,501 SQFT Home Size # of Transactions 19 -38.7% Sales Price Average $1,058,196 2.0% High $1,300,000 -3.6% Low $818,000 14.4% Sales Price Per SQFT Average $829 -0.5% High $972 -21.4% Low $637 28.4% Days on MLS Average 18 18.0% High 91 7.1% Low 0 NA

Lafayette Market Update Apr '19 - Mar '20 1,501 - 2,500 SQFT 2,501 - 3,500 SQFT 107 -5.3% 66 1.5% $1,427,841 $2,195,000 $900,000

-0.7% $1,960,509 0.8% -39.0% $3,000,000 -7.0% 0.0% $998,000 -20.9%

SqFt 2758

$1,616,946 $1,529,385 $1,499,571 $1,750,750 $1,992,786

$696 $703 $723 $673 $667

2476 2358 2146 2774 2946

$1,626,221 $1,586,450 $1,496,201 $1,471,793 $2,088,333 $1,875,000 $1,825,605 $1,782,000 $1,692,333 $1,656,333

$702 $694 $712 $588 $729

2403 2298 3191 3134 2310

57 $2,101,185 $2,089,718 12 $3,215,000 $3,288,667 15 $1,912,730 $1,848,067 12 $1,647,612 $1,662,917 18 $1,818,069 $1,776,331

$691 $739 $684 $635 $702

3114 4433 2917 2740 2649

73 $1,889,879 $1,888,689 16 $1,414,437 $1,372,313 4 $1,916,500 $1,859,750 42 $2,051,095 $2,077,126 11 $1,956,200 $1,930,818

$646 $710 $512 $624 $681

3024 2019 3756 3326 3069

Erin Martin

> 3,500 SQFT 63 3.3% $2,556,833 $5,850,000 $1,250,000

Total 255 -5.6%

-15.6% $1,817,093 -3.0% -25.0% $5,850,000 -25.0% -21.6% $818,000 14.4%

$719 $953 $483

-1.2% -42.1% 13.7%

$659 $962 $367

1.8% -9.5% -1.6%

$599 $984 $342

-8.2% -7.8% -19.0%

$682 $984 $342

-3.1% -40.2% -8.2%

19 124 0

10.9% -0.8% NA

21 107 0

-6.6% -25.2% NA

50 262 0

69.9% 29.1% NA

27 262 0

28.9% 29.1% NA

925.951.3817 Erin@MartinHomesTeam.com CalBRE#01922810

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

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