Lamorinda Summer Market Update

As the calendar turns to summer it is a good time to take stock and understand how Lamorinda real estate performed over the last year. Below is a summary of Multiple Listing Service (“MLS”) data for Lamorinda residential detached home sales over the last twelve months from July 2016 to June 2017 (the prior-year comparison is from July 2015 to June 2016).

As most of you already know our real estate market remains strong as the spring market delivered record figures for most of Lamorinda. The Lamorinda average sales price is now $1.54M, up 5%, and the average sales price per square foot is $604, up 4%. The biggest gains came from homes between 2,500–3,500 square feet where the price per square foot is up 10%. Families are feeling more confident about their financial situation and are moving up into larger homes. In Lafayette, the average sales price and price per square foot were both up 4% to $1.57M and $620. In Moraga, the average price is up 2% to $1.33M and the average sales price per square foot is up 1% to $560. In Orinda, the average sales price is up 7% to $1.61M and the average sales price per square foot is up 5% to $608. In addition, over the last twelve months there were 88 Lamorinda transactions over $750 a square foot compared to 56 in the year prior, a 57% increase. This is great news for all of us that live in Lamorinda.

The document below provides further details, breaks down the numbers by home size and separately looks at Lafayette, Moraga, and Orinda. Feel free to email or call with your real estate questions - erin@erinmartinhomes.com or (925) 951-3817