Lamorinda Real Estate

Lamorinda Real Estate (Lafayette, Moraga, Orinda) Sales - January

2010-02-24T11:24:46-08:00

The Lamorinda real estate market was down in January, with 21 closed single family home sales for the month, 15 units less than in December.

The median sales price for Lamorinda was up, however, coming in at $960,000 in January as compared to $844,500 in December.

The median price per sq. ft. dropped to $421 for January, down slightly from $424 in December.

The average days on market for closed sales dropped to 65 in January, down from 88 in December.

On average, homes sold for 93% of asking price in January.

The higher price ranges remained steady in January, with 5 closed sales (approx 20%) over $1.25 million dollars, the same as December. The difference in volume was in the under $1 million range, with 25 homes selling December, and only 11 in January.

Lafayette and Orinda saw the most activity in January.

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Lamorinda Real Estate - Christmas Shopping - Walnut Creek, Broadway Plaza Christmas Tree

2009-12-21T11:07:02-08:00

I was out early Sunday morning to beat the shopping crowds. Quiet enough to hear the Christmas music. Happy Holidays!

Orinda Real Estate - Market Sales Trends

2009-12-18T17:56:57-08:00

The Orinda real estate market has definitely felt the effects of the economy. The most common question I hear at the holiday parties is, “How’s our market?”

Well, the average selling price for 2009 year to date is 23% lower than it was in 2006. Most of that drop came in the ’08-’09 period with a 14% drop.

The total volume measured in $$ from ’06 -’09 is 35% lower while the number units sold is only 16% lower.

Marketing time has more than tripled from 2006-2009, while the median sales price has dropped about 23%.

Interestingly, the number of homes sold year over year is up 7% from last year, while marketing time is up 39%, with the 14% drop in average price.

With mortgage rates remaining historically low, all of this together leads to the conclusion that it is a great time to buy! See the Business Week article by Marc Roth, “If You Don’t Buy A House Now, You’re Stupid or Broke”.