Pending home sales in California saw the first double-digit annual increase in three years in February and also the largest gains since the housing crisis. According to a report from the California Association of Realtors, pending home sales increased by 15.6 percent year over year in February, the most significant annual increase since April of 2009. The Bay Area also saw double-digit percentage increases which suggests that the pace of sales will pick up across the state in the coming months. This may finally give buyers a more level playing field. The Lafayette real estate market had a so-so month in March. The median sale price increased … (0 comments)
The market has been pretty quiet among many Bay Area cities over the last few months of 2015, including Lafayette. Home sales declined in all nine Bay Area counties in the first month of 2015 which was the the result of limited affordability, according to a report released by the California Association of Realtors. Additionally the sales drop-off in the Bay Area was attributed to intense demand and inventory shortages, which have driven up prices. The report also stated that the Bay Area was the only region in the state where the average home seller could expect to take in about 100 percent … (0 comments)
The number of Bay Area homes on the market tightened as 2014 ended and continue to in the first month of 2015. According to the California Association of Realtors December home sales and price report, the months’ supply of inventory for single-family homes across the Bay Area dropped to 1.7 in December, down from 2.3 in November. With that, the Bay Area real estate market remains heavily tilted in favor of sellers, as it did one year ago. Along with inventory levels, home prices also dipped across the Bay Area. Even with the month-over-month slips, Bay Area counties remain the state’s most expensive … (0 comments)
lafayette real estate market trends: Lafayette Real Estate Update - January
- 01/07/15 07:22 AM
Happy 2015 to all! What a year 2014 was for the real estate market. Overall, the market in Lafayette was steady but like all of the Bay Area, it was nothing to write home about. Employment statistics released earlier in the week by the U.S. Bureau of Labor Statistics (BLS) fall right in line with analysts’ recent predictions that the housing market will make a comeback in 2015. Reports from economists at CoreLogic and Wells Fargo released in December indicated they believe housing will rebound in 2015 after a disappointing 2014, and they cited improvements in the U.S. labor market … (0 comments)
lafayette real estate market trends: Lafayette Real Estate Update - December
- 12/04/14 05:30 AM
2014 has been a great year for the Lafayette real estate market. And with recent 2015 projections coming out for the U.S. real estate market, 2015 will likely be even better. Freddie Mac’s economic outlook for 2015 calls for 3 percent growth in the U.S. economy, which means good news for Bay Area housing. Home value appreciation is expected to drop slightly which is a positive for buyers and sellers. Home values have appreciated so much throughout the last year so many homeowners are all in all in a good place. This also means buyers will be more active. As far as … (0 comments)
lafayette real estate market trends: Lafayette Real Estate Update - November
- 11/06/14 02:43 AM
With only two more months left of 2014, most are wondering how 2015 projections are looking for sellers and buyers. A recent forecast by the California Association of Realtors gives much hope to homebuyers for the coming year, with a prediction of a growing supply of inventory, leveling home prices and less competition with investors. There is also a prediction that mortgage interest rates will remain at historically low levels throughout 2015. This is an incredible outlook for the coming year. And with that being said, 2014 has been a very solid year in the real estate market. The Lafayette … (0 comments)
lafayette real estate market trends: Lafayette Real Estate Update - October
- 10/13/14 03:06 PM
The U.S. real estate market is normalizing and Lafayette is among many Bay Area communities recovering faster than the nation. In September of this year the median sale price topped out at $1,221,250 which is a 14% year over year increase. The number of properties sold is down nearly 30% year over year which likely has to do with the increased sale prices and the fact that we’re in a sellers market, more so than we were at this time last year. Home prices were lower last year. And due to the increases in median sale prices, the number of … (1 comments)
This summer has been more quiet for the Bay Area real estate market than in recent years, which is likely due to intense demand and constrained inventory. This, coupled with increased prices has some homebuyers sitting out the action as they wait for the supply-and-demand ratio to stabilize. In Lafayette, the median sold price is up by 3% year over year, from $1,180,000 to $1,218,750. year over year, not by much but home prices are still going up. There was also a slight month by month increase. And as I thought, the number of properties for sale is down 16%, … (0 comments)
lafayette real estate market trends: Lafayette Real Estate Update - June
- 06/04/14 12:24 PM
The median sale price in Lafayette has remained pretty consistent over the past year. There haven’t been any major spikes or dips. Year over year, the median sale price is up just 4%, from $1,165,000 in May 2013 to $1,207,500 in May 2014. In contrast, the number of properties sold in Lafayette has really fluctuated throughout the last year. Year over year, the number of sold homes in Lafayette has increased 20%, from 30 in May 2013 to 36 this May. And month to month, the number of new listings coming on the market is soaring. In just one months … (0 comments)
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