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 Orinda median sale price increased 22% year over year, from $1,120,000 to $1,290,000. Additionally, there … (0 comments)
The market has been pretty quiet among many Bay Area cities over the last few months of 2015, including Orinda. 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 of … (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)
orinda real estate market: Orinda Real Estate Update - January
- 01/07/15 07:31 AM
Happy 2015 to all! What a year 2014 was for the real estate market. Overall, the market in Orinda 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 as a … (0 comments)
orinda real estate market: Orinda Real Estate Update - December
- 12/04/14 05:34 AM
2014 has been a great year for the Orinda 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 interest … (0 comments)
orinda real estate market: Orinda Real Estate Update - November
- 11/06/14 02:49 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 median … (1 comments)
orinda real estate market: Orinda Real Estate Update - October
- 10/13/14 03:13 PM
The U.S. real estate market is nearly stabilized with several of our local markets recovering faster than the nation, Orinda being one of them. The median sale price is up 34% year over year, from $971,500 in September 2013 to $1,300,000 in September 2014. As far as the number of properties sold, there was a slight year over year increase of 6%, from 16 to 17. And we also saw a decrease in the number of new properties that came on the market, from 45 in 2013 to 35 this September. And with the market being favorable for sellers this isn’t necessarily … (1 comments)
orinda real estate market: Orinda Real Estate Update - September
- 09/08/14 09:13 AM
The Orinda real estate market differs from so many other Bay Area cities. And this can be seen through another month in Orinda. Summer is typically quite slow for the real estate market and picks up in Fall once vacations have slowed down and school has started. Well, summer wasn’t so slow in Orinda. The median sale price was up by 15% year over year, from $1,126,000 to $1,300,000. Additionally, the number of properties sold is up 29% from last year. This increase is quite the opposite of most Bay Area cities. This may have to do with the new … (0 comments)
orinda real estate market: Orinda Real Estate Update - May
- 05/12/14 03:10 AM
Orinda started off 2014 with a median sale price of $1,400,000, a very strong start to the new year. With that spike came a drop in February with a median sale price of $900,000, a 35% decrease. Since February that number has seen a steady increase, topping April off with a median price of $1,250,000. Comparatively, the number of sold properties in January was around 5, so that tells you that we were still in the bidding war phase of the Orinda market. That has since changed, not entirely but it is shifting. Currently the average the number of properties … (0 comments)
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