We are all looking at things a little differently...
We have all had more time at home lately and that has given many of us the time to evaluate and re-evaluate how, where and why we might be living. Lots of people are now interested in "right-sizing" their housing and we've seen a big increase in activity over the past month or so, even during our shelter-in-place. Changes are happening and many people believe Moraga and our Lamorinda area are the place to be!
According to CNBC, existing home sales plummeted in May as the coronavirus continued to hammer the economy, but real estate agents expect that it will represent the bottom. Sales of existing homes in May fell 9.7% compared with April, to a seasonally adjusted annualized rate of 3.91 million units, according to the National Association of Realtors. Sales were down 26.6% annually. That is the largest annual decline since 1982 when interest rates were about 18% and the slowest sales pace since October 2010.
Our local recovery seems strong thus far and not all markets will recover at the same time. Below is a look at our local market activity in Moraga, Lamorinda, and Contra Costa County.
The above chart shows the number of listings in Contra Costa County entering the market by week, showing a steady increase from the beginning of April.
This chart compares the number of active listings (on the left) and those that go into contract (on the right) year over year. The lighter blue and purple lines correspond with 2019 activity, while the darker blue and purple represent 2020. These trend lines indicate that we are close to approaching typical spring/summer inventory levels.
3+ BD | 2.5 BA | 2,828 SF
1807 St. Andrews Drive in Moraga Country Club is a light and bright updated 3 bedrooms/2.5 baths + Large office (or 4th bd), 2,828 square foot single family home with cathedral ceilings and BIG VIEWS. This "Forest Hills" plan boasts common areas and the master bedroom on the main level and other bedrooms, office and laundry downstairs. Move in ready; the discriminating buyers will appreciate the new tile roof and gutters, tankless water heater and efficient furnace. Homeowner benefits include full membership to MCC - 18 hole golf course, driving range, pools, hot tubs, tennis courts, clubhouse, bar and restaurant. Social and athletic programs for members of all ages. Skip the waiting list and come enjoy the Moraga Country Club lifestyle!
123 Alta Mesa Court, Moraga
3 Bed | 2 Bath | 1,954 SF
Offered at $1,100,000
617 Augusta Drive, Moraga
3 Bed | 3.5 Bath | 2,206 SF
Offered at $1,079,000
26 Merrill Circle South, Moraga
4 Bed | 4 Bath | 3,710 SF | 1.01 Acre
Offered at $1,525,000
165 Natalie Drive, Moraga
4 Bed | 2 Bath | 2,062 SF | .23 Acre
Sold for $1,415,000
West Wind Solano Drive-in Movie Theater
1611 Solano Way, Concord
Missing going to the movie theater? Head out to Concord to enjoy a mix of an old-school drive-in vibe combined with modern digital projection and audio technology. Check their website for movie selections and showtimes.
Moraga's Annual Fourth of July Fun Run
July 4th - July 18th
Registration for the virtual event will be open through Saturday, July 4. Runners can run the 2-mile or 5-mile race “officially” on the planned course, or "choose your own path” and run wherever you choose. After you run your race you can submit your times on the website.
Clear guidance, strategy, and market expertise when you're ready to move. Your Moraga real estate advisor and neighbor.
© Compass 2020 ¦ All Rights Reserved by Compass ¦ Made in NYC
Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. Equal Housing Opportunity.