5 Santa Clara County Sales Stats That Are Up As Of January 2023

Welcome back to the Homes of Silicon Valley blog! You may have seen that last week, we featured a national turning point in the market - that pending sales have risen for the first time in 6 months. This week, we wanted to share some local Santa Clara County data to give you an idea of where Silicon Valley real estate is headed this spring.

In addition, inventory has risen by 69.1% month-over-month and 124.4% year-over-year. Active listings are also up by 37% year-over-year, thus the market is showing signs of a fast start to spring 2023! This is definitely a unique time of year when the stage is setting for the next few months. Buyers appear to have more options with those inventory increases, and sellers are feeling less concerned about any more price dips. Mortgage rates have been volatile this week, yet Mortgage News Daily is reporting that the impact may be only to upfront costs but not the mortgage rate (yet).*

You can read the Real Estate Report by Homes of Silicon Valley in full here; please do not hesitate to reach out with any questions, strategy considerations or a complimentary home valuation.

The only thing that matters is what you do next – we are dedicated to making sure it is the right move (or not) for you!

Let’s talk soon,

Mark

*Please work with a trusted, licensed mortgage advisor for rate information that pertains to your individual situation and qualifications. Not mortgage advice or a guarantee to lend.