Where else in the world can you step out of your home and into a redwood forest straight out of a fairy tale? Living by the Bay, we’re spoiled with parks, trails, and open spaces. We owe it to ourselves to take the time to enjoy it!
Check out the latest additions to the townhome market in one of Silicon Valley’s most desirable locales, and beat the heat at an open house this weekend! See more on our Properties page.
As higher mortgage rates become the new normal, more buyers are entering the market. But the same high rates are causing many potential sellers to stay in their homes with lower long-term fixed payments. When will supply catch up with demand?
I get the feeling we’re almost there now. New listings, offers, and sales prices may be down year over year, but they’re all on the uptick so far in 2023. Open houses and broker tours are packed, and homes are selling quickly with multiple offers. Everything seems to be moving in a positive direction.
Feelings are fine, but I need more data before I’m willing to say the market is on its way back. We could also be in the middle of a long-term malaise that will only be resolved when things explode or fall apart completely. Neither would be surprising at this point. But here’s hoping for an explosion.
Following a slow second half of 2022, buyer demand appears to be rebounding so far in 2023, with open houses, offers, overbidding, and absorption rates all on the rise. Median prices have yet to recover from recent declines, but those drops are based on numbers from the peak of a 10-year market cycle. And it’s only a matter of time before increased demand and a continued inventory shortage drive up prices again.
The proverbial pink elephant in the room is unpredictable interest rates, which have put a chill on the housing market. Spring is typically the most active period of the year for sales, so we should learn more in the next few months about where we’re headed.
Welcome to an Urban Oasis! This spacious condo with new floors, fresh paint, and plenty of natural light is conveniently located in the heart of Silicon Valley near major freeways, high-tech companies, and trendy shopping in Downtown Sunnyvale. It’s also close to nature, with a greenbelt of parks and trails and refurbished Fair Oaks Park in the neighborhood.
609 Arcadia Terrace #204, Sunnyvale, CA 94085
2 Beds | 2 Baths | 1,160 sqft | $899,000
Open this weekend: Fri 9am-1pm, Sat & Sun 1-4pm
