Pacific Union’s 4th Quarter 2014 real estate market report is now online. It’s packed with sales data and regional summaries that provide a complete look at the real estate activities in the Bay Area and the Lake Tahoe/Truckee Region. Click here to read the full report.
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Contra Costa County Faces Home Seller Delays
In the Pacific Union report you’ll find a section specific to Contra Costa County, explaining that the county’s real estate market continues to be held back by a “shrinking pool of available homes” that causes would-be sellers to delay listing their homes because they’re not sure where they’ll find their next one.
Lafayette, Moraga and Orinda are their own hyper-local real estate markets. They don’t always experience what the county experiences as a whole. This would-be seller delay, though, is happening here, too.
Lafayette Home Seller Challenges
Lafayette, in particular, is a wonderful place to live at any age – and it’s hard to leave. That’s not always about the family house – it’s about the Lafayette lifestyle.
I’ve talked to many empty nesters who would be willing to sell the big family home if they knew they could move into a smaller one close to downtown Lafayette. Walking distance to BART, the Trail, restaurants, shops and the Lafayette Library and Learning Center would be ideal – and that is theoretically possible here.
Young families living in those smaller “downtown” homes ready for more space are in the opposite position, unwilling to risk not living here at all if they sell without securing their next, larger home. Yet the current competitive marketplace makes it hard to buy with significant contingencies – at least not for the best home choices in the most popular family neighborhoods.
The Lafayette Lifestyle Video: Click here if video doesn’t show.
Early 2015 Lafayette Real Estate Market Activity
Good news: Not every would-be Lafayette seller is delaying and not every would-be buyer already lives here.
2015 has already seen new listings. The best of these are attracting lots of interest and multiple offers, including our first two Lafayette listings of the year. More listings are on the calendar – look for them soon.
What about those local families tired of waiting to move within Lafayette? They’re looking at creative solutions – and so are we.
2015 is just getting started so it’s hard to predict with certainty what’s going to happen. One thing I do know, though: Everyone needs to bring their ‘A’ game — Buyers, Sellers and Real Estate Agents. Trust me, it’s going to be an interesting year!
What are your 2015 real estate goals – buy, sell or both? If you’re wondering how you are going to achieve your goals in the current Lafayette real estate market, let’s talk. You can reach me directly at Dana@DanaGreenTeam.com or 925.339.1918.
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