At the Dana Green Team, we pride ourselves on our deep-rooted connection to the Lamorinda real estate market, enabling us to guide you toward successful outcomes. Our active involvement in crafting and evaluating offers for both buyers and sellers allows us to provide you with real-time market intelligence tailored to your specific needs. 

We are excited to share the latest Lamorinda market data, recently released by Compass' Chief Market Analyst, Patrick Carlisle. This insight comes at a pivotal time, as the Federal Reserve Bank reduced its benchmark rate on September 18th for the first time since 2020—a positive development for the housing market. Analysts anticipate further cuts before year-end, amidst improving consumer confidence and a decrease in inflation to its lowest point in over three years. 

Despite recent fluctuations, mortgage rates as of early October were the lowest since February 2023. However, an unexpectedly strong jobs report caused a temporary spike. The consensus suggests a continued downward trend in rates for Q4, although predicting interest rate changes remains challenging due to unpredictable economic and political factors. 

While the recent drop in interest rates hasn't triggered the expected surge in buyer demand, the market dynamics are shifting toward buyers' favor. An increasing inventory of homes for sale contrasts with sales activity, creating opportunities for buyers. Nonetheless, certain properties continue to sell quickly and above the asking price, depending on factors such as price, location, and condition.

October marks the peak of the autumn selling season, a time when activity is robust before the mid-winter holiday slowdown. It's also a period when sellers often adjust prices to close deals before the seasonal dip.

As you consider this data, remember that no two homes are identical. We are here to provide personalized advice and insights tailored to your property and needs. 

Thank you for your trust in our team.