Lafayette CA

  What the heck is going on in the Real Estate Market?

The Appraiser’s Appraisal

City of Lafayette (All)

Sold past 1-6 months (n=129) median (med) $1,175,000 Days on Market (DOM)=12

Sold past 7-12 months (n=128) med $2,125,000 DOM=8

This suggests a primary (yearly) change of -16.471%.

Sold past 1-3 months (n=49) med $1,775,000 DOM=16

Sold past 4-6 months (n=80) med $1,787,500 DOM=11

This suggests a secondary (quarter to quarter) change of -0.699% (stable).

There are 27 current active listings ranging from $1,150,000 to $5,500,000 with median DOM at 19 days.  Range 1–197 days.

There are 12 pending listings (in contract) ranging from $795,000 to $3,925,000 with median DOM at 30 Days.  Range 1-190 days.

12/14 review: yearly change -16.682%; quarter-to-quarter change -5.714%.  10/25 review: yearly change -7.451%; quarter-to-quarter change -16.312%.  9/14 review: yearly change +6.734%; quarter-to-quarter change -12.386%.

So, what’s going on?  This is the common pattern.  The yearly trend appears to have bottomed out and the quarter-to-quarter trend has moderated.  The yearly trend is just around the same as the December observation with the quarter-to-quarter trend just now showing as stable (change of less than 2%).  Lafayette could be divided up some but, these larger sample sizes (n) give us confidence in the corresponding trends.  The quarter-to-quarter trend started out negative, went further down in October, moderated in December and is now considered stable.  The yearly trend started out positive, went negative in October, went further down in December and has remained at around the December level today.  I suspect that the yearly trend has reached its bottom and the quarter-to-quarter trend will continue to improve.  I believe the yearly trend will also improve in the near term.  However, that depends on the direction of the subsequent sales data.  The current quarter-to-quarter data is promising.  Regardless, we must stay vigilant as we know there can be reversals…

Have any other real estate questions?   Want to know what is going on in a different market or sub-market?  Just ask!

Appraiser legal stuff:

CA Office of Real Estate Appraisers License No. AR041451 – JamesForquer.com jamesforquer@comcast.net  Data is from EBRDMLS and includes all of the City of Lafayette, all MLS residential listings, effective as of 02/15/2023

Listing/Sales services provided through Coldwell Banker – Montclair   510-339-6134 Jim Forquer – CA Department of Real Estate License No. 01205407            #realestate