Lamorinda's housing market remained competitive in September, with fewer available homes, faster sales, and steady buyer demand across Lafayette, Moraga, and Orinda.

The median single-family home price reached $1,850,000, down 2.2% year over year. A total of 54 homes sold, matching last September's activity.

Inventory tightened considerably, with active listings falling 29% to just 84 homes. Meanwhile, 40.7% of properties sold above asking price, and days on market dropped from 33 to 26. Price reductions also declined 41% compared with a year earlier.

The condo market saw just six sales, with a median price of $727,500. Given the limited number of transactions, these figures offer little indication of broader pricing trends.

What Does This Mean for Buyers and Sellers?

For buyers, limited inventory means preparation and a clear understanding of local pricing are essential. For sellers, reduced competition and faster sales create opportunities, but accurate pricing remains important.

The bottom line: Lamorinda's single-family market remains tight and competitive, even as median prices hold relatively steady.

Thinking about buying or selling in San Francisco or the greater Bay Area? Connect with Rick Kaluza for local market insights and guidance tailored to your goals.

 

 

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Source: compass.com