Lamorinda Real Estate October 2020 Report
Depending on the statistic and the source of data, analyses in this report will pertain solely to the 3 Lamorinda cities, to Lamorinda & Diablo Valley, or to Contra Costa County, as delineated on each chart.
The table below compares Q3 statistics across 5 years. Q3, summer, typically sees a slowdown from the more heated selling season of Q2, spring, but the pandemic flipped seasonal market trends upside down.
Median sales prices can rise because of increases in fair market value – i.e. buyers are paying more money for the same home (supply and demand) – and/or because buyers are purchasing larger, more expensive houses, often in more expensive locations. Both dynamics are currently at play, but it is certain that affluent and very affluent buyers have made up a dramatically increasing percentage of the demand in East Bay and Bay Area markets.
Long-Term Trends in Median House Sales Price through YTD 2020
Annual percentage changes in median house sales price: The 2020 YTD percentage will almost certainly change, one way or another, by the time full-year sales data is in.
Long-Term Trends in Median House Dollar per Square Foot Value through YTD 2020
Luxury home sales have soared in most Bay Area markets, though few saw an increase as big as in Lamorinda.
Median House Sales Price Trends by City in the Greater Lamorinda & Diablo Valley Region
Remember that the trend in buying larger, more expensive houses is affecting median sales prices in 2020 – along with any appreciation in fair market value.
Selected Market Indicators
Across Contra Costa County markets, a situation of low supply and increased demand has generally prevailed.