A busy month in Lamorinda.  Buyers are coming to the table with very strong offers…many multiple offers over asking price, tight terms and quick closes.  Per Trendgraphix, 59 detached homes sold and 78 went pending.

BIDDING WAR
In East Bay, Pent-Up Demand Fuels Buying Boom

The Contra Costa Times published an article on the front page of Saturday’s newspaper which speaks about low inventory in the East Bay and pent-up buyer demand.  “In Contra Costa County, pending sales of single-family homes are up 62% from last year and inventory is down 32% — a seller’s market.” 

 “The threat of historically low interest rates rising further — the rates rose above 4% this week — combined with increased confidence in the economy is bringing out buyers who have been holding back.”

Click attached link to read article:
http://www.contracostatimes.com/ci_20235269/buyers-compete-short-supply-homes-bay-area?IADID=Search-www.contracostatimes.com-www.contracostatimes.com

 The Lamorinda Market is HOT!
After the last few years of a difficult housing market, Lamorinda has turned on the heat. 58 single family residences have gone pending since March 1st. Many of these have received multiple offers. With interest rates low and inventory starting to come on, buyers who have been on the fence are ready to buy!

If you have been waiting for the market to come back to list your home, now is the time! Low inventory over the last six+ months has resulted in pent-up buyer demand.