Wow, this market is hot and quite interesting! A shortage in inventory and low interest rates are spurring multiple offers and fueling a very fast real estate market. In Lamorinda, we still have more people moving to our community than moving out of our community. Given the level of business we do, we have a unique view of the market. I love analyzing data and thought you might find the below information useful. 

What factors are driving Buyer traffic to Lamorinda? 

1. Buyers upsizing their interior and exterior space
2. Buyers looking for fabulous K-12 schools for their children
3. Buyers looking for neighborhoods and a true sense of community
4. Buyers desire for our (mostly) year-round, sunny climate
5. Buyers hoping to find a property that allows them to lock-in today’s interest rates for many years to come 

What factors are driving Sellers to leave Lamorinda? 

1. Desire to be closer to family
2. Affordability/State Taxes (Prop 19 goes into effect April 1. We have yet to see changes as a result of this.)
3. Desire for different space or different lifestyle as a result of COVID
4. Change in marital status, family status, or death of an occupant 

Where are the top three areas Buyers are coming from? 

1. San Francisco
2. The Peninsula/South Bay
3. Oakland/Berkley 

Where are Sellers moving? 

1. Nevada
2. Pacific Northwest
3. Nashville area
4. Florida
5. So Cal 

What’s Missing? 

We have very few buyers and sellers moving around within our community. At the moment, people are hunkered down, watching and evaluating their future needs. 

I look forward to continuing to provide weekly updates!

Dana