Orinda Q3 2020 Market Update

Orinda 2020 Q3 Market Update MartinHomesTeam.com

Orinda 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 Orinda. People are leaving the City for the suburbs placing a premium on cities like Orinda 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 Orinda residential detached home sales within the Orinda School District boundary Orinda Market Update Oct '19 - Sept '20 1,501 - 2,500 SQFT 2,501 - 3,500 SQFT 96 -9.4% 93 5.7%

Home Size < 1,501 SQFT # of Transactions 20 33.3% Sales Price Average $1,074,099 5.8% $1,404,143 High $1,450,000 7.4% $2,450,000 Low $620,000 -7.3% $785,000 Sales Price Per SQFT Average $769 1.9% $681 High $976 -3.7% $998 Low $505 -10.3% $422 Days on MLS Average 28 99.4% 22 High 224 198.7% 237 Low 2 NA 0

> 3,500 SQFT 53 0.0%

Orinda Averages By School & Neighborhood (last 12 months) # of Home Price Per Neighborhood Sold Price List Price Sales SQFT Orinda 262 $1,797,583 $1,777,744 $657

SqFt 2788

Del Rey Elementary Crest View / Lost Valley Del Rey Glorietta Ivy Drive

53 $1,505,269 18 $1,541,332 11 $1,497,727 13 $1,514,077 11 $1,443,391

$1,458,130 $1,501,833 $1,418,545 $1,498,385 $1,378,627

$676 $648 $713 $610 $762

2314 2504 2169 2504 1922

Glorietta Elementary Downtown Glorietta

58 22 36

$1,778,118 $1,795,359 $1,767,582

$1,734,293 $1,812,591 $1,686,444

$675 $670 $679

2677 2731 2643

Sleepy Hollow Elementary Charles Hill Orinda Country Club Orinda Downs Sleepy Hollow

55 $2,177,093 12 $2,277,558 8 $2,120,438 7 $3,123,388 28 $1,913,651

$2,145,818 $2,258,250 $2,162,500 $3,161,429 $1,838,964

$667 $635 $593 $718 $690

3290 3599 3580 4274 2829

Wagner Ranch Elementary El Toyonal Oak Springs Orinda Country Club Orinda Grove Orinda Woods Wilder

96 $1,753,297 34 $1,313,203 15 $1,745,600 25 $1,999,653 3 $1,405,667 6 $2,032,500 13 $2,390,789

$1,769,573 $1,298,850 $1,713,700 $2,041,600 $1,400,667 $2,092,333 $2,478,203

$631 $617 $621 $623 $651 $704 $656

2829 2187 2849 3284 2185 2928 3717

Erin Martin Total 262 0.0%

7.1% 22.5% 37.7%

$1,879,788 $2,985,000 $950,000

8.6% 3.8% 7.3%

$2,638,994 $5,600,000 $1,500,000

11.2% $1,797,583 9.0% 15.5% $5,600,000 15.5% 0.0% $620,000 8.8%

3.6% 8.8% 34.8%

$639 $979 $373

7.9% 12.4% 9.9%

$605 $933 $347

6.4% 11.9% 26.4%

$657 $998 $347

5.5% -1.6% 26.4%

-8.5% 5.3% NA

29 309 0

-15.5% 41.7% NA

57 369 0

2.9% 44.7% NA

32 369 0

-3.7% 44.7% 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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