September 22, 2020

Lamorinda Real Estate September 2020 Report

September 22, 2020

Lamorinda Real Estate September 2020 Report

Depending on the statistic, analyses will focus only on the 3 cities of Lamorinda, the greater Lamorinda – Diablo Valley region, or Contra Costa County, as delineated on each chart.

Surprisingly, the terrible fires did not significantly impact the number of deals being made in most Bay Area counties during the last 2 weeks of August – the exceptions being Santa Cruz, Sonoma, Monterey and Napa Counties, which saw declines of 13% to 33%. Lamorinda actually saw activity tick up in the second half of the month. (This chart looks at week by week activity in the Bay Area.)

Lamorinda has seen offer-acceptance activity significantly higher this summer on a year-over-year basis (after the early spring plunge caused by the pandemic).

House sales volumes and median home values by city in the Lamorinda – Diablo Valley region:

Lamorinda does not see that many closed sales on a monthly basis, which makes its median sales price more prone to anomalous fluctuations, such as big sudden spikes or drops. However, median house sales prices have been climbing in the past 3 months, which is in line with what has been occurring in much of the Bay Area.

Bay Area median house sales values and sizes in summer 2020: Lamorinda has been broken out in this county analysis. Compared to counties of similar affluence, one gets much more house for one’s money in Lamorinda.

A review of year-over-year changes in the number of luxury home sales around the Bay Area this past summer. Some other counties have seen astounding increases, with Contra Costa having the second highest Y-o-Y jump. Almost all the county’s luxury home sales are in Lamorinda and Diablo Valley.

A snapshot measure of how many listings were typically active within the county on any given day of the specified month: Inventory has been running very low.

ACTIVE house listings and median ASKING prices by city as of 9/7/2020: In some of the wealthiest communities, the median asking price is well above the median sales price, an effect of having a high supply of luxury and ultra-luxury listings – which sell more slowly than the general market. These numbers change on a daily basis with ongoing market activity.

Active listings in Lamorinda and Diablo Valley broken out by price segment, as of late August: These numbers change daily.

Percentage of listings accepting offers within the month – another indicator of high demand vs. low inventory.

The lower the Months Supply of Inventory (MSI), the stronger the demand as compared to the supply of listings. Almost all of the market remains deep in “seller’s market” territory by this measure – some price segments are extremely heated.

A very low number of price reductions in the county in recent months, another indicator of very strong buyer demand.

A breakdown of house sales by era of construction:

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

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