Going once, going twice, sold to the highest bidder! Last spring marked a rare top of the market in Lamorinda real estate. That seller’s market will be most remembered for a market of auctions to the highest bidder. This was followed by a complete freeze that began in June with the percentage of real estate transactions dropping by epic amounts (over 75%) in the Lamorinda marketplace. The fall of 2022 will be remembered as a buyer’s market with prices dropping by double-digit numbers and buyers controlling the sales. 

Many of you have been watching and waiting to see what 2023 will bring and you may be shocked to hear that we are now back in a seller’s market! What a wild ride it is.

If the value of your home is below $4M in Lamorinda, Q1 stats show that inventory levels are at amazing lows causing the tides to turn again in favor of sellers despite all other market variables which would suggest otherwise. The luxury market is behind the under $4M market and historically wakes up now. I would imagine this market will follow suit and shift quickly too. 

Sellers, what are you waiting for? If you want to sell your house, you should be sprinting to market with the odds in your favor for now. 

Buyers, with so many rate-locked sellers hunkering down until the rates change and inventory increases, we have no idea how long this stalemate will last. If you find a house that meets your needs, don’t wait for a deal. The secret is, there never really is a deal for great houses. They will always demand top-of-market prices and we are seeing exactly that! The deal is getting to buy the house and live in this amazing community. 

We are excited to have several great listings hitting the market over the next eight weeks! We also have a small list of houses that we can sell off-market for our clients if we have a buyer match. Reach out to us today to learn more. All buyers and sellers should be in the mode to move quickly. We are ready to sprint with you!