The numbers are in from August, and as you can see, the Santa Clara County housing market is still on the rise, whether you’re looking for a house or a condo. Inventory is up year-over-year from the height of the pandemic in Summer 2020, but properties are spending less time on the market, and prices are soaring.
What does this mean for you? Contact us for more insights!
183 Hamwood Ter
Mountain View, CA 94043
3 Beds | 3.5 Baths | 1,612 sqft | $1.498M
Open House - Sat 9/25, 1:00-4:30pm
25295 Soquel San Jose Rd
Los Gatos, CA 95033
4 Beds | 2.5 Baths | 3,030 sqft | $1.7M
14141 Sobey Rd
Saratoga, CA 95070
5 Beds | 2.5 Baths | 2,039 sqft | $3.425M
We’re hearing a lot about vaccination rates these days, but when it comes to inflation, there’s no such thing as herd immunity. Sure enough, as our economy continues to recover from the COVID shutdown, we’re seeing a spike in the Consumer Price Index (CPI), a leading indicator of inflation, and a sign that rising interest rates may be on the horizon.
As COVID restrictions have eased up in some states over the past two weeks, the number of homes going into contract has been trending upward in many markets. A few highlights:
There has been a notable uptick in regions that have lifted restrictions.
Inventory levels remain low in many areas where restrictions have not been lifted.
Compass can provide you with real-time data so you can see activity as it’s happening!
Many first-time homebuyers have unrealistic expectations of what “affordable” means for them, especially in Silicon Valley. Unless you have an unlimited budget, it might make sense to start with a smaller home and build equity toward a bigger purchase later. And take advantage of all the government assistance and financing options available.
I’m a big believer in the power of technology. We have the tools to mass-produce prefabricated homes in factories faster and cheaper than building on site. But red tape gets in the way in the form of land use, zoning, and delays with inspections and paperwork. We won’t solve this problem until government works at the speed of business.
