Jan 16-Feb 2: Lafayette, Moraga, Orinda Sold and Pending Homes

Total sold: 6

Lowest: $605,000/ Highest: $1,689,000

Median days on market: 22 days

Median sold price: $1,689,000

Total transactions: Approx $7m

Total pending: 11

Lowest: $575,000/ Highest: $2,895,000

Median days on market: 67 days

Median asking price: $1,499,000

Total For Sale: 52

Lafayette (27) - median price $1,795,000

Moraga (5) - median price $1,550,000

Orinda (20) - median price $2,270,000

Hi everyone, it’s our bi-weekly market updates!

This week, I’ve added the original list price for pending sales, so you can see if (and how much) a listing has to lower the price before they find a buyer.

• Avg sold price in Lamorinda has dropped about 5% compare to one year ago.

• Numbers of sold/pending listings have dropped 25%, this week, but we are seeing an uptick in pending sales.

• (Jan 16-Feb 2) Median days on market for pending is 67 days, 11 properties that have been on the market before the holiday, went into contract this week.

That coincides with what I am witnessing. Buyers have resumed their search, they are reaching out to lenders to update their pre approvals, and have been actively reading disclosures and looking at properties.

Jan is a typical slow season for real estate. With the mortgage rates continue to trend downwards, and with the lack of inventory, I anticipate home prices will stabilize, and activity will pick up as we move towards the Spring market.