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December 15, 2020

Lamorinda Real Estate December 2020 Report

December 15, 2020

Lamorinda Real Estate December 2020 Report

Depending on the statistic and source of data, the analyses in this report will focus just on the Lamorinda area, the Lamorinda and Diablo Valley region, the full county, or the Bay Area – as indicated on each chart.

Though Covid-19 upended many normal seasonal trends this year, and then the fires added their impacts, the market did begin its typical “holiday season” slowdown in November – however activity remained well above levels of last year.

It is unknown how the latest pandemic circumstances may affect the market in December, which is usually by far the slowest month of the year.

More importantly, we hope you and your loved ones stay safe and well during this challenging holiday season.

In the first chart below, we combine Lamorinda and Diablo Valley to get a larger set of monthly sales data, which helps smooth out the trend line.

The combined median house sales price for the 3 cities of Lamorinda alone is now running about the same as that of San Mateo County. Of course, compared to full counties, Lamorinda is a very small, exclusive market.

The biggest year-over-year increases in dollar volume sales since the pandemic hit occurred in counties where population densities are lowest – much more rural counties such as Napa and Monterey.

The usual decline in market activity in November is illustrated in the next 3 charts reflecting new listings coming on market, the total number of active listings, and the number of listings going into contract. One can also see the temporary effects of the mid-August fires on listing and sales activity.

December typically sees the nadir of activity, but that does not mean homes do not continue to be listed and sold.

Market activity as measured by the number of listings going into contract, though dropping in November – as is the normal seasonal trend – was 85% higher than in November 2019.

Two more angles on the strength of buyer demand in recent months, which has been very strong indeed.

Five charts and tables on the Lamorinda and Bay Area luxury home markets, which, generally speaking, have seen very robust demand since the pandemic hit.

Luxury home sales in Contra Costa County are almost completely concentrated in the greater Lamorinda and Diablo Valley region.

Link to our full NorCal Luxury Home Market Report

As far as the square footage one gets for one’s dollar, the greater Lamorinda & Diablo Valley market is the best value for luxury home buyers in the Bay Area.

After the more rural counties of Sonoma, Santa Cruz and Monterey, Contra Costa had the highest year-over-year increase in the number of luxury home sales.

The post Lamorinda Real Estate December 2020 Report first appeared on PEB.