Trying to time real estate markets to sell at the high and buy at the low is incredibly difficult. However, the hyper-local intel and data we can obtain or observe (given the level of business our team does) provides us with a unique glimpse into the misty crystal ball of our future. What does our crystal ball tell us today? 

People are traveling! In fact, TSA reports travel in June was up 16% nationwide from 2021. This Summer, our Lamorinda real estate markets, and the overall community, have been quieter than normal. This marks a return to a more seasonal real estate market where we will see a lull in offers during times when most people are taking vacations or gathering with family and friends (think holidays). We expect this lull to dissipate in September. Now is a great time to buy when your competition is on vacation and distracted! Our lower prices reflect lower demand. This may not last! 

It is still a great time to sell your home! The market is changing, but prices are still high compared to pre-pandemic values! In fact, we’ve compared Q2 2019 to Q2 2022 in Lafayette’s four geographic quadrants and the entire City of Orinda and Town of Moraga. Look at the major increase in the average price per square foot (across the board). 

Inventory may remain low! Buyers, this could be your window to buy. We don’t know how long it will last but prices are directly related to supply and demand. When talking to other Realtors, Vendors, Lenders, and Home Inspectors, they are slow. They do not have a large pipeline of listings in the works. Sellers have been spooked by the sudden shift in the market and it is now their turn to freeze. A lack of homes will surely spike demand amongst those who want and need to buy. 

In summary, we believe now is a good time to buy and sell a home! How can we help you take the next step? 

Dana & Team