Orinda, known for its upscale neighborhoods, excellent schools, and proximity to San Francisco, continues to be a highly desirable location for homebuyers. While the market has shown signs of cooling from the peak of the pandemic, it remains a competitive landscape.

Key Market Indicators

• Median Home Price: The median home price in Orinda in July 2024 was approximately $2,040,000. While this represents a slight decrease from peak prices, it still positions Orinda as a high-end market.
• Inventory Levels: Inventory levels have increased slightly compared to previous years, offering buyers more options than in the past. However, the market is still considered a seller’s market due to ongoing demand.
• Days on Market: Homes in Orinda typically sell relatively quickly, with an average of around 28 days on the market in July 2024. This indicates a strong demand for properties in the area.

Market Trends and Predictions

• Market Stabilization: While prices remain high, the market is showing signs of stabilization after a period of rapid growth. Buyers may have slightly more negotiating power compared to previous years.
• Continued Demand: Orinda’s strong appeal as a desirable community will likely sustain demand for housing, even as the market cools slightly.
• Luxury Market: The luxury segment of the Orinda market continues to be robust, with high-end homes commanding premium prices.

What’s For Sale in Orinda?

Orinda primarily offers single-family homes, ranging from traditional styles to contemporary estates. The market also includes a limited number of condominiums and townhouses, which tend to be in high demand due to their lower price points compared to single-family homes.

Conclusion

The Orinda real estate market in July 2024 reflects a high-end market with a strong foundation. While the pace of price appreciation has slowed, the area’s desirability continues to drive demand. Buyers can expect to face competition, but the increased inventory may provide slightly more options compared to previous years.

Disclaimer: This report is based on available data and trends as of July 2024. The real estate market is subject to rapid changes, and it is essential to consult with local real estate professionals for the most up-to-date information and personalized advice.