Despite the ongoing health and economic crisis precipitated by COVID-19, the Lamorinda real estate market has staged a dramatic recovery from the steep decline in April. The median house sales price hit a new high in Q2, and high-end homes, in particular, have seen extremely strong demand – this applies to virtually every market in the Bay Area. More affluent buyers – the demographic least affected by COVID-19, unemployment, and also having the greatest financial resources – have been jumping back into the market to a greater degree than other segments.
Depending on the analysis, these charts will sometimes include Diablo Valley, or reflect the full county market.
The first chart below illustrates the big rebound in buyer demand in May and June, as the number of listings accepting offers rose above last year’s.