When thinking about a real estate market as diverse as the Bay Area, where home prices, neighborhood characteristics, and appreciation percentages vary widely, it’s helpful to look at trends from a higher level.
This chart provides a simplified look at the market for higher-tier homes since 1984, and it’s clear that prices continue to rise over time despite a regular cycle of bubbles and busts.
The three charts below show how real estate market cycles generally move in sync with other economic indicators such as financial markets, employment, and consumer confidence.
It’s important to note that these data points end in 2019 and don’t reflect the crazed volatility created by the global pandemic. As we’ve all seen, the housing market has experienced a complete rebound, but some economic sectors are still struggling to recover.
Recently, we announced a listing for a newly-remodeled home in Los Altos. Now, after meeting hundreds of buyers at open houses and fielding multiple offers, we’re on the verge of a sale. So we’re turning this week’s Number Talk into a trivia game…
Here are the details of the house:
5 beds | 3.5 baths | 2,754 sqft | 0.23-acre lot
The house was listed at $4.198M, and we had five offers. Can you guess the winning offer price?
Submit your answer here. The closest without going over wins a $20 Amazon gift card!
They say the grass is always greener across the street, but what if the green was all the same? From a cozy cottage in Mountain View to a 2,400 square foot, 5-bedroom home in Monte Sereno, here’s a glimpse at what $3 million looks like in neighborhoods across Santa Clara County.
The personal saving rate fell more than half a point to 9.4% from July to August, according to numbers from the Bureau of Economic Analysis. This makes the record 33.8% rate at the height of the pandemic in April 2020 seem like ancient history. Why the steep decline? Well, people are getting back to spending their limited income rather than saving their stimulus checks. Our friends at the Balance have more insights.
