Hey! Tanja Odzak-Goppold with Keller Williams
here with your monthly market trends
report for december of 2020.
so what happened in la morinda so
lafayette when we compared
year over year december 2020 to December 2019
the number of homes is for sale was up by 31
in lafayette and orinda up by 17
Moraga was actually down by 76
so the month’s worth of inventory (this is
how we gauge the health of a real estate market) so it all points
to it being a pretty hot seller’s market
everything was under one month
worth of inventory the important thing
to note about
this is that even when you’re in a hot
market not all homes are the same level
of hotness… certainly location and condition
play a huge role in you know upping that
average sold price for a home but do not
underestimate
the ability of your realtor to market
your home some of us
are marketing and work like we’re in 2020 and 2021
and some realtors out there are still
selling homes the same way
that was done in the 90s so with that
being said average sold price
year over year for lafayette was up by nineteen percent
moraga was up by 27
orinda was basically the same
and it changed from the previous month it was a
little up and down lafayette was up just
five percent and the others
had a drop overall
this is very consistent with the way the market is in december
this is usually when the market is at its slowest
however there’s houses still being sold
and prices are still
up year over year
ONE of the biggest
questions that people have
out there is with all this coronavirus/covid stuff that’s happening, is the real
estate market going to crash
so let’s see what the real estate
industry experts have to say about that
lawrence yen who is the chief economist
of the national association of realtors
has stated that this winter may be one
of the best winters for sales activity
and on a winter to winter comparison
this could be one of the best breakout
years just based on the fact that
pending contracts
are at such a higher level danielle hale
who is the chief economist
realtor.com states we expect home sales
in 2021 to come in
seven percent above 2020 levels and also
all major service providers like fannie
mae the mortgage brokers
bankers association and more are also
predicting um uh increase in home prices
in 2021 so the outlook there is very
positive
you know i have heard from some buyers
that they are waiting for the market to
crash
before they buy that home they may be
waiting for a very long time
and if you are thinking about buying you
are better off based on this information
buying earlier in the year than later in
the year after when prices have already
gone up
a few other things that are probably
going to color the way the year goes
is prop 19 that first part that relates
to
second homes and needing to have that
step up in basis
that part kicks in on february 16th so
that may or may not loosen up a few
people’s second homes by you know them
putting them on the market
on april 19th the second part of prop 19
kicks in which is the part that relates
to
victims of natural disaster
the disabled and people who are 55 years
or older
and their ability to now transfer their
tax base up to three times before it was
just once but now it’s going to be three
times
also a lot of stuff is just going to
depend on what happens with coronavirus
and that vaccine distribution
so if you have any questions about any
of this feel free to comment below
shoot me a text send me an email my
contact information is all below
here and if you would like a market
trends report specific to your city
the request link is also below shoot me
a text send me an email
you know where to find me!