A Bellwether Sign for Lamorinda Real Estate

We want to share a bellwether sign of our long-term bullish view on Lamorinda real estate. While we realize that all real estate markets are subject to cycles as our economy changes, we closely monitor leading indicators of how our local real estate market will perform over the next decade. Recently, CNBC released the Upstart 100, its annual list of the 100 most promising start-ups around the world. This list is another perfect example of what we tell our clients every day; Silicon Valley is moving north to San Francisco and the East Bay making Lamorinda a viable commute option for today's "new-tech" workforce. There are 33 Bay Area companies on the list. Of these 33 companies, 22 are in San Francisco or the East Bay. This is great news for the long-term future of Lamorinda home values. Fifteen years ago, you would have only seen one or two San Francisco based start-up companies on the list as most Bay Area companies would have been located on the Peninsula, which has historically been the heart of the Silicon Valley. Today 90% of “new-tech” is San Francisco based and moving east. While Lamorinda might not achieve the price per square foot levels of Palo Alto, the price gap will continue to narrow over the next decade with promising start-ups continuing to locate in commute reach of our community.