Q2 2024 Market Update - Walnut Creek and Lamorinda

Here's your Q2+July 2024 Market Update. 

The takeaway: 2024 closely resembles 2023 in most of Lafayette and Orinda, while Walnut Creek experienced a hotter market, and Moraga saw an overall slowdown. Despite 25-30% less inventory compared to 2022 and persistent high-interest rates, Lamorinda and Walnut Creek maintain comparable pricing from 2023, and about 6% less compared to 2022.

• Walnut Creek: The hottest market, saw a notable increase in demand with an 11% price increase (vs. 2023), lower days on market, and higher price per square foot.

• Lafayette: Despite having 20% more inventory compared to 2023, there was a marginal price decrease, lower days on market, and higher price per square foot.

• Orinda: Experienced a 3% price increase, but other key metrics remain comparable to 2023.

• Moraga: Saw an overall slowdown with decreased listings, prices, and price per square foot. Many homes on the market received notable criticism, while buyers preferred properties closer to BART and freeways for commuting, contributing to the slowdown.

Note: July 30th-31st data are missing due to the timing of the post, but I will edit if it changes the data significantly.