Homes of Silicon Valley sincerely hopes that you are enjoying 2022! While pandemic challenges continue, we sincerely hope that the comforts of home and these moments of Silicon Valley sunshine are helping carry you through.

While our blog last week included some projections on where national real estate trends may be headed, we wanted to provide some closure on where our local market ended last year. The past is not always an indication of the future, but with the continuation of low inventory and high demand, there may be much to gleam from the past as we look forward to the future.

Does any one of these data points stand out to you? We’d like to point out the double-digit price median home price increases year-over-year for SFRs and townhomes, at 22.8% and 12% respectively. Note the minor increases month-over-month as well. With extremely low year-end inventory and home price deceleration, it’s not surprising that the latest jump was smaller than the gains achieved throughout the year. We urge existing homeowners to consider what such gains mean for equity, from both a potential move-up buyer perspective or consideration for those long-awaited home improvements (I finally got my own plans in motion for my outdated kitchen!).

Days on market also decreased month-over-month for SFRs and maintained for townhomes and condos, while year-over-year DOMs were significant. Nothing depicts high demand and low inventory like days on market.

For a malleable framework that you can sort by zip code, we encourage you to view the Real Estate Report Presented by Homes of Silicon Valley. Here you can see the single-family homes sales in Santa Clara County as of last month, as well as filter by county, city, property type and date.

If data is not your thing and you really just want to know what it means for you & your goals – please reach out to me at any time. I am always happy to decipher the data and help you weigh the implications and opportunities for you. ~ Mark

Mark Barber

Homes of Silicon Valley / A Sereno Division

408.316.8112 (Direct)

DRE# 01220031