Spring 2022 is officially here, and we thought the best way to celebrate it was right along with our sellers! Congratulations to our sellers of 2577 Nightingale Way in San Jose. Many of you may remember that this updated 3BR/2BA updated ranch-style home was also our first listing of the year. We knew those dual kitchen islands, drought-resistant landscaping, and ideal location (just 5 minutes to downtown Willow Glen!) would be in demand. After listing this property at $1,299,000… 2577 Nightingale Drive has now closed for $1,600,000. We are not only thrilled that our sellers maximized their return on their investment, but honored they chose us to make it happen. There is no better start to the season.

With regards to a Silicon Valley market update, we encourage you to visit our monthly Real Estate Report here. You can access 8 sales stats at a glance by month, as well as filter the data further by neighborhood and property type. Homes of Silicon Valley would like to point out some notable changes in market data when you view condominiums and townhomes.

While it’s no secret that single family homes are in demand and have been for the past few years, the condo market has not only caught up but is curently surpassing SFRs with regards to the pace of median price increases by month.

Condo & townhome median prices are currently up 17.3% month-over-month (compared to 7.2% for SFRs) and 15.6% year-over-year. In addition, the sales to list price ratio for condos and townhomes is 109.3%, compared to 102.4% last year. The bottom line is that the demand for multifamily properties is increasing – and the result is higher ROIs for sellers and greater competition for buyers.

If you are seeking strategic, empowered and results-oriented support in this market – please do not hesitate to reach out. With nearly 25 years of helping buyers, sellers and investors (and a record year in 2021!), we are more than excited to see what we can achieve for you in 2022. The best is yet to come.

Talk soon,

Mark