Lafayette Q1 2021 Real Estate Market Update

Lafayette 2021 Q1 Market Update MartinHomesTeam.com

Lafayette 2021 Q1 Market Update MartinHomesTeam.com

• Our real estate market continues to reach new heights – Fueled by the COVID demand for more space, record low mortgage rates and limited inventory have pushed the average home sold in Lafayette to $2.03 million and average price per square foot to $742, up 9% year over year

• Here is a summary of the rest of Lamorinda – While Lafayette continues to lead on average sold price and price per square feet, Moraga took a big leap forward over the last six months Lamorinda Averages (last six months) # of Home Sold Price List Price Price Per ($M) Sales ($M) SQFT SqFt Lamorinda 408 $1.93 $1.87 $711 2794 Lafayette

163

$2.03

$1.96

$742

2809

Moraga

95

$1.67

$1.59

$690

2468

Orinda

150

$2.00

$1.94

$692

2985

We look forward to the opportunity to assist with your real estate needs. Just give us a call

163 $2.03 $1.96 $742 2809

SqFt

Price Per SQFT

List Price ($M)

Sold Price ($M)

# of Home Sales

SqFt

Price Per SQFT

List Price ($M)

Neighborhood Lafayette

Sold Price ($M)

# of Home Sales

• We don’t anticipate the current trend changing anytime soon – “What COVID has done is created a permanent shift in the demand curve. Everyone now wants more space — more indoor space, more outdoor space, more private office space, more second home space — and it’s not going to go away because people now have the flexibility to work from home” - Robert Reffkin, Compass CEO – According to the latest S&P CoreLogic Case-Shiller Index, year over year home prices nationally rose 11.2% in January, 10.4% in December & 9.5% in November – Building and remodeling costs are skyrocketing – Not only are contractors in peak demand but the price of lumber has more than tripled since the start of COVID – “We have raised our GDP forecast to reflect the latest fiscal policy news and now expect 8% growth in 2021 (Q4/Q4) and an unemployment rate of 4% at end-2021” - Goldman Sachs

Lafayette Averages By School & Neighborhood Last Twelve Months Last Six Months

345 $2.01 $1.97 $739 2796

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

50 33 3 8 6

$1.85 $1.86 $1.25 $1.96 $1.92

$1.79 $748 2581 $1.82 $738 2627 $1.15 $945 1353 $1.89 $680 2860 $1.80 $795 2569

98 64 4 19 11

$1.81 $1.79 $1.30 $1.73 $2.26

$1.76 $755 2482 $1.74 $756 2444 $1.21 $906 1468 $1.68 $706 2452 $2.17 $777 3119

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

41 7 12 4 18

$2.45 $3.34 $2.24 $2.03 $2.34

$2.35 $3.22 $2.18 $2.06 $2.20

3132 4089 2647 3070 3097

98 19 22 16 41

$2.36 $3.40 $2.11 $1.77 $2.25

$2.31 $757 3162 $3.35 $845 4063 $2.08 $783 2735 $1.74 $672 2700 $2.19 $738 3175

Lafayette Elementary Downtown Silver Springs Trails

29 15 2 12

$1.77 $1.64 $1.89 $1.90

$1.69 $776 2312 $1.56 $743 2247 $1.83 $881 2135 $1.81 $805 2390

57 37 4 16

$1.66 $1.58 $2.62 $1.80

$1.59 $784 2200 $1.53 $782 2141 $2.51 $863 3088 $1.70 $781 2327

Springhill Elementary Acalanes Baywood Reliez Valley Springhill

43 9 2 24 8

$2.00 $1.67 $2.33 $2.16 $1.84

$1.96 $1.62 $2.32 $2.11 $1.80

92 15 6 54 17

$2.04 $1.59 $2.24 $2.17 $1.92

$2.02 $673 3079 $1.55 $752 2286 $2.22 $602 3743 $2.16 $644 3336 $1.92 $718 2725

$790 $840 $842 $668 $763

$664 $769 $581 $628 $676

3112 2437 4008 3402 2775

Erin Martin 925.951.3817 Erin@MartinHomesTeam.com CalDRE#01922810

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

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