The Silicon Valley Spring Market Is Here

Happy Almost Spring from Homes of Silicon Valley! The clocks are not the only thing jumping forward this weekend as the Santa Clara County housing market is surging with momentum as well. We have summarized some notable data from the latest edition of our Real Estate Report in the graphic below, but encourage you to check out the data in full HERE.

WOW. Median home prices are up over 6% month-over-month and over 22% year-over-year. Inventory is down for the 11th month in a row and fell 24.5% compared to this time last year. It’s no wonder that the sales-to-list price ratio has risen almost 4% since last month, almost 6% since last year. The average sales price received on a single-family home in Santa Clara County is now 107.4% of the asking price! The days on market have declined significantly with most homes selling in an average of 20 days. The number of listings is an improvement over last month, but 27% worse than last year.

In summary, demand continues to far outweigh supply and sellers are in a great position to maximize their ROI and receive a solid offer in a short amount of time. Buyers are facing limited inventory and thus competition will continue to require strategy, relationships and highly-skilled negotiations.

Homes of Silicon Valley is excited about the activity we are seeing, and even more excited about the opportunities we can achieve for our buyers & sellers! If you would like to ask any questions about the market, receive a complimentary home valuation or explore a solid purchasing strategy – please do not hesitate to reach out!

Cheers to sunny days ahead,

Mark

Mark Barber

408-290-0072 / mark@homesofsv.com

Christie's International Real Estate Sereno / Homes of Silicon Valley

License #: 01220031