Lamorinda and Contra Costa - Weekly Market Report: JAN 3 - 9, 2024
Check out this JAN 3 - 9, 2024 market report! Get the best insights on when to place a plan for your new home with this weekly market guide in South Bay.
📍 Lafayette 📍 Moraga 📍 Orinda
📍 Concord 📍 Pleasant Hill 📍 Walnut Creek
Lafayette's real estate market is moderately active with 12 active listings and a recent addition of 1 new listing. The market is moving at a steady pace, as evidenced by the median days on the market being 19. The median sold price is high at $1,800,000, reflecting the city's premium property values. However, the number of all sold properties being 5, and only 1 pending sale, indicates a balance between supply and demand, with a slight inclination towards a seller's market.
The Moraga real estate market is extremely quiet at the moment, with only 2 active listings and no new or sold properties. This could imply a very stable community with limited movement in the property market. The absence of a median sold price and median days on the market suggests a lack of recent sales activity, making it difficult to gauge the current market trend here.
Orinda's market is currently less active with only 5 active listings and no new listings. This scarcity of new listings could indicate a highly stable market with less turnover. The median sold price here is the highest among the cities at $2,525,000, suggesting a luxurious and high-end property market. The properties stay a bit longer on the market (21 days median), possibly due to the higher price points and specific buyer market.
Concord shows a much more dynamic market with the highest number of active listings (62) and a notable number of sold properties (12). The market seems to be more fluid and accessible, with properties spending an average of 14 days on the market, the shortest among these cities. The median sold price of $715,000 indicates a more affordable range compared to the neighboring cities. The presence of 5 price changes might suggest a competitive market adjusting to buyer demand.
Pleasant Hill presents a balanced market with 12 active listings. Despite no new listings, the market seems to be moving at a slower pace, as indicated by the longer median days on the market (33). The median sold price is $1,525,000, which is on the higher side but still accessible compared to Orinda. The market dynamics here seem to cater to a specific buyer demographic looking for premium properties.
Walnut Creek has the most active market with 72 active listings and a relatively high number of new listings (3) and sold properties (12). The median days on the market are 27, and the median sold price stands at $906,000, representing a market that is both active and diverse in its price range. The market here caters to a wide range of buyers, from those seeking luxury to more affordable options.
Across these cities, the real estate market trends show a varied picture. High-end markets like Orinda and Lafayette are seeing less activity but maintain high property values. Concord and Walnut Creek are more dynamic with more listings and sales, catering to a broader range of buyers. Moraga and Pleasant Hill are more stable, with limited market movement, indicating a preference for long-term residency. The trends suggest that while premium markets maintain their exclusivity and high value, the more dynamic markets offer opportunities for buyers at different price points, reflecting a healthy and diverse regional real estate landscape.
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