For buyers house-hunting at the higher end of the East Bay market, Lafayette offers some compelling opportunities in 2012. With easy access to BART and highways 24 and 680, this charming bedroom community is ideally suited to commuters looking for a cozy, tranquil retreat that’s still close to jobs, shopping and services:
For the time being, home prices in Lafayette are still well below where they were a year ago. But with the economy showing signs of rebounding, upward price pressure is building, so there’s no guarantee that the great values we’re seeing in the market today will last much longer. Here’s a quick look at home price trends in Lafayette over the past year:
As you can see, median home prices (the black line on the graph) started 2011 around $1.18 million, and are currently hovering about 15% below that around $1 million. But while still significantly below prices in early 2011, current values have rebounded significantly from 1-2 months back. At the same time, the number of homes whose listing price has been reduced (the orange line) has been steadily dropping. So if you’ve been thinking about purchasing property in Lafayette, this might be the moment to start making offers before prices climb too much higher.
To view the latest home listings in Lafayette, simply click here. If you’d like to take a look at any of these properties, please don’t hesitate to give me a call or shoot me an email!