REAL ESTATE MARKET PREDICTION January 2021 Market Trend: Contra Costa- Lamorinda

REAL ESTATE MARKET PREDICTION January 2021 Market Trend: Contra Costa- Lamorinda

hey it’s Tanja with your monthly trends

report for january of 2021.

so what happened in january of 2021 so

when we compared january 2021 to january

of last year in 2020

we can see that lafayette moraga and orinda

were all down in the number of homes

that were put on the market so this is

inventory right how many houses are

listed for sale lafayette was down five

percent moraga was down 38

and orenda was down 31 this was actually

down

in lafayette and orinda from december

except moraga was up by 225

when we look at december compared to

january so

also you know we need a little bit of

context with this so how do we know like

how many

houses is this actually you know for

sale what does it say about the market

so we do this by looking at months of

inventory because months of inventory

tells us it’s like a gauge for

the health of the real estate market so

generally if you have five months or

less it’s a

seller’s market if you have seven months

or more it’s a buyer’s market

well right now lafayette is point nine

nine tenths of a month moraga is seven

tenths of a month and orinda is one and

a half months worth of inventory

so this means that they are very hot uh

sellers markets right now and it’s true

because there’s because of that interest

rate that is so

crazy low there are so many buyers

that are out there right now and the

market is brutal

but that being said um

not all houses that are on the market

are hot houses you know not every house

sells

you know you know in a week or in two

weeks sometimes some of them do take

longer to sell and that’s just because

you know location condition

the skills of a realtor and the

experience

can all play a role in you know how long

that takes to sell

so um and also in purchase price right

you know something that

um might not be in the most ideal

location

or you know be in the best condition or

is being sold by a realtor who doesn’t

have

as much skills or experience it’s

probably gonna sell for less

so that being said a la forget when we

compare january of 2021 to

january of last year the price is

up by 14 percent moraga is actually down

by 11 percent

and orinda is up by eight and a half

percent

so i just want to throw in a little bit

of you know what the you know the

national news and the real estate

industry projections are for 2021 and i

want to talk about core logic

um because their chief economists

predict that home prices will continue

to go up but not as quickly as

you know what we have seen recently and

corelogic is really cool because they

base their predictions on data and facts

and not the news

um so they expect a continued growth in

appreciation during the first half of

the year

but they feel that it’s going to slow

down like it may slow down a little bit

in the second half of the year

so if you want to talk to me about

selling or buying your home and you have

questions about what does this mean for

you and your situation

feel free to reach out to me my contact

information is

in the comments below otherwise give me

a like subscribe to my channel and tap

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