Lafayette 2020 Q3 Market Update MartinHomesTeam.com
Lafayette 2020 Q3 Market Update MartinHomesTeam.com
• Our Real Estate Market Came Roaring Back Over the Summer – After a pause during shelter-in-place orders, the summer market delivered record prices for Lafayette. People are leaving the City for the suburbs placing a premium on cities like Lafayette as more and more families place a higher value on space, yard and quality of life • Everyone Wants a Pool – With homebuyers heading to the suburbs, buyers are looking for a well landscaped yard with a pool, flat lawn space, covered outdoor living and/or a sport court • It’s Also What’s Inside that Matters – Buyers are looking for home offices (for two), home-schooling area, space for pets and home gyms • It’s Less About the Commute – Buyers are looking for proximity to parks, open space and bike trails and are less sensitive to commute times • Updated Still Commands a Premium – Under Covid, it is now harder than ever to get plans approved and find quality contractors. In addition, many building materials are scarce with skyrocketing prices • Stock Market Helps Fuel Demand – Record Nasdaq levels and recent Bay Area tech and biotech IPOs provide added liquidity for homebuyers • Record Low Mortgage Rates Continue – Local commercial lenders have recently quoted 10-year ARM purchase jumbo rates as low as 2.5% Table below is a summary of Multiple Listing Service (“MLS”) data for Lafayette residential detached home sales within the Lafayette School District boundary Lafayette Market Update Oct '19 - Sept '20 1,501 - 2,500 SQFT 2,501 - 3,500 SQFT 100 -2.9% 78 2.6%
Home Size < 1,501 SQFT # of Transactions 21 -22.2% Sales Price Average $1,124,701 8.4% $1,464,358 High $1,620,000 22.7% $2,300,000 Low $749,000 4.8% $900,000 Sales Price Per SQFT Average $946 19.7% $736 High $1,488 55.2% $1,010 Low $692 39.6% $483 Days on MLS Average 17 23.0% 17 High 91 160.0% 124 Low 0 NA 0
Lafayette Averages By School & Neighborhood (last 12 months) # of Home Price Per SQFT Neighborhood Sales Sold Price List Price Lafayette 265 $1,940,108 $1,923,318 $710
SqFt 2813
Burton Valley Elementary Burton Valley Lafayette Valley Estates Saranap / Condit Trails
69 $1,688,133 $1,650,546 42 $1,646,233 $1,604,781 5 $1,466,000 $1,404,600 14 $1,515,732 $1,488,029 8 $2,348,638 $2,328,938
$726 $739 $724 $706 $695
2400 2294 2031 2243 3465
Happy Valley Elementary Happy Valley Happy Valley Glen Hidden Valley Upper Happy Valley
74 $2,278,927 $2,280,797 17 $3,545,814 $3,590,765 15 $1,901,926 $1,911,533 15 $1,659,725 $1,612,733 27 $2,034,704 $2,032,294
$719 $813 $671 $671 $712
3233 4418 2912 2533 3053
Lafayette Elementary Downtown Silver Springs Trails
47 $1,635,518 32 $1,549,495 2 $3,350,000 13 $1,723,077
$1,604,164 $1,524,579 $3,200,000 $1,681,154
$744 $762 $844 $703
2310 2197 4041 2418
Springhill Elementary Acalanes Baywood Reliez Valley Springhill
75 $2,004,307 11 $1,610,294 6 $2,111,508 47 $2,080,688 11 $2,013,490
$1,999,613 $1,559,182 $2,091,667 $2,085,074 $2,024,682
$662 $733 $567 $633 $767
3079 2228 3764 3280 2696
Erin Martin
> 3,500 SQFT 66 3.1%
Total 265 -1.9%
2.1% $1,947,046 -19.3% $2,995,000 0.0% $998,000
-2.5% -7.1% -12.5%
$2,912,190 $5,850,000 $1,250,000
4.1% $1,940,108 3.4% -25.0% $5,850,000 -25.0% -8.8% $749,000 4.8%
0.7% -33.4% 12.2%
$655 $943 $367
-2.5% -11.3% -1.6%
$660 $1,165 $342
6.3% 9.1% -3.9%
$710 $1,488 $342
2.3% -1.9% -3.9%
-2.2% -0.8% NA
18 107 0
1.0% 32.1% NA
36 208 0
-23.3% -20.6% NA
22 208 0
-8.9% -20.6% 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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