January 2022: Market Update & More!
The Market As I See It
The 2021 Lamorinda housing market was unprecedented and red-hot last year. Home supply dropped to one of the lowest levels in history.
2022 will continue to be a sellers’ market. Inventory will not keep up with demand. Out-of-area buyers will continue to see Lamorinda as an ideal place to live…. and keep on coming our way with their winning “rogue” bids. They have been priced out on the Peninsula, South Bay, Marin, and SF. Lamorinda homes have become their focus. Our commute, location, weather, and schools are desirable, unbeatable, and affordable!
First-time homeowners are anxious to move up into larger homes. They are smartly improving and getting ready to sell. Bridge loans, credit lines, and relationships with their banks and family should all be part of their arsenal to sell and then buy a new home.
In our seller’s market, prices will remain high, and price growth will begin to slow down, primarily due to expected rising interest rates. Good homes will continue to sell quickly, and competition will remain fierce.
If you are looking to maximize your home sales price and/or compete in this unique market, I am enthusiastically ready to help you get this done!
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