Lafayette 2019 Q3 Market Update

Lafayette 2019 Q3 Market Update MartinHomesTeam.com

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Lafayette 2019 Q3 Market Update MartinHomesTeam.com

• Lafayette’s average price per sqft drops to $694, down from $706 in Q2, but the numbers don’t tell the full story

• The drop in price per sqft was primarily related to the composition of homes sold in Q3 vs an overall market shift, however Q4 results should be closely monitored as we prepare for the 2020 Spring selling season • 2019 Q3 sales included larger and less updated homes sold in Lafayette compared to Q3 of 2018, which results were dropped from the current twelvemonth average of Q4 2018 through Q3 2019 • The average home size sold in Q3 2019 was 2826 sqft compared to 2518 in Q3 2018. Generally, larger homes sell at a lower price per sqft. The average sales price per sqft was $657 in Q3 2019 compared to $710 in Q3 2018. Supporting the notion that less updated homes were sold in Q3 2019, there were only 9 homes sold above $800 per sqft in Q3 2019 compared to 17 in Q3 2018 and there were 9 homes sold below $500 per sqft in Q3 2019 compared to only 5 in Q3 2018 • Bay Area home price index increased in July, further supporting the strength in the overall market. The Case Shiller Bay Area High Price Home Index increased to 262.42 in July from 261.59 in June • Lafayette continues to outpace Moraga and Orinda - Moraga’s average sales price per square foot is $605, up 4% and Orinda’s is $622, down 1% • See the Market Update section of our website for the full report of our Lamorinda Q3 Market Update, Lafayette Q3 Home Sales Report and other Market Insights

Lafayette Averages By School & Neighborhood (last 12 months) # of Home Price Per Sales SQFT Neighborhood Sold Price List Price Lafayette 272 $1,876,707 $1,844,495 $694 Burton Valley Elementary Burton Valley Lafayette Valley Estates Saranap / Condit Trails

64 $1,671,945 $1,600,906 37 $1,593,140 $1,496,162 7 $1,545,286 $1,515,714 12 $1,816,250 $1,749,583 8 $1,930,785 $1,936,875

$724 $733 $764 $701 $683

2379 2229 2056 2647 2954

Lafayette Elementary Downtown Silver Springs Sky Hy Trails

60 31 5 5 19

$1,706,496 $1,549,285 $3,157,000 $1,784,484 $1,560,763

$1,671,950 $1,530,871 $3,014,000 $1,755,600 $1,526,947

$709 $694 $835 $576 $737

2466 2342 3812 3119 2143

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

76 13 18 16 29

$2,104,059 $2,921,154 $1,682,830 $2,033,438 $2,038,192

$2,075,143 $2,898,769 $1,626,556 $2,012,000 $2,019,202

$696 $756 $726 $638 $682

3102 4146 2391 3240 3000

72 13 4 39 16

$1,960,576 $1,301,212 $1,932,750 $2,220,805 $1,868,957

$1,961,343 $1,257,154 $1,873,500 $2,244,479 $1,865,313

$652 $716 $571 $641 $648

3103 1847 3386 3531 3010

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 Oct 2018 to Sept 2019 (percentages represent change over prior-year, Oct 2017 to Sept 2018) Lafayette Market Update Oct '18 - Sept '19 1,501 - 2,500 SQFT 2,501 - 3,500 SQFT 104 -18.8% 76 20.6%

Home Size < 1,501 SQFT # of Transactions 27 -22.9% Sales Price Average $1,037,778 0.2% $1,440,283 $1,320,000 -2.1% $2,850,000 High Low $715,000 5.9% $900,000 Sales Price Per SQFT Average $791 -8.2% $733 High $959 -22.5% $1,517 Low $496 -13.9% $430 Days on MLS Average 14 -16.3% 17 High 35 -58.8% 125 Low 0 NA 0

2.6% $1,996,801 -20.8% $3,225,000 10.8% $1,140,000

SqFt 2792

Erin Martin

> 3,500 SQFT 65 35.4%

10.6% 12.2% 42.3%

$2,783,044 $7,800,000 $1,370,000

Total 272 -0.7%

2.6% $1,876,707 11.8% 56.9% $7,800,000 56.9% -5.5% $715,000 5.9%

2.3% -7.9% 2.4%

$672 $1,064 $373

11.0% 13.9% 18.1%

$617 $1,068 $356

0.1% 13.2% 0.3%

$694 $1,517 $356

0.3% -7.9% 12.8%

11.2% 21.4% NA

18 81 0

-23.3% -43.4% NA

49 262 0

43.6% -22.0% NA

25 262 0

19.0% -22.0% 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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