Local Market Update
One of the most frequently asked questions all local Realtors get those days is “How is the market doing”? There is a natural curiosity about whether the market has fully recovered, on the rebound or still languishing. The reality is that the 2014 season has been one of fits and starts. The experts are calling it a bumpy recovery marked by uneven plateaus. Foreign investment has targeted cities and the surrounding suburbs of Boston, NYC, San Francisco and Portland, Oregon creating a flurry of activity over short spurts. As much as the pundits would like to call this a full recovery, we are still in recovery mode.
So, where does that leave the local shopper. Inventories, although low, still present an incredible opportunity for those looking to trade up or buy for the first time. Couple that with interest rates that continue to entice and you can find some incredible value without getting overbid by about 25 competing offers. While its a great time to buy, patience is what we encourage the seller.
In Lafayette, there are 55 single family residences (SFRs) on the market including Townhouse. Of those, roughly 42 are priced over $1,000,000. What makes Lafayette so special? Proximity to San Francisco, excellent schools and very well constructed and architected homes dotting the hillside. Looking for all that at a slightly lower price point? Try Walnut Creek just one town over. With a bustling downtown that provides local residents an alternative for going into the city, it remains a value for those on slightly lower budget.
Whatever is driving your search, we would love to help and know the area. Give us a call and find out how a local independent perspective can help you find your dream home.
CA BL 01324924