The numbers from December are in, and it’s a familiar story. But while sales of homes and condos are still below the same time last year, the gap is narrowing as inventory slowly returns. But buyers still need to act fast with homes spending an average of 23 days on the market. As far as the bottom line, median sales prices were up year-over-year, more so for homes (16%) than condos (5%).
Did you know? The United States is home to 4% of the world’s population, yet produces more than 12% of the trash — to the tune of 4.9 pounds per person per day – and over 28% of our garbage is packaging. That means we throw out 82 million tons of material every year.
Want a scarier number? Every 15.5 hours, we throw out enough plastic to fill the stadium where the Dallas Cowboys play, and 91% of it isn’t recycled. It’s enough to make you want to refill that olive oil bottle instead of buying a new one.
It’s no secret our groceries come with a lot more packaging every day, but we probably don’t think about it more than once a week when we take out the trash. The Almanac takes a look at two Peninsula “refilleries” trying to reduce our collective climate footprint.
Like we said earlier, you have to think big when it comes to home investments, and this chart says it all. While median house prices in Santa Clara County may have dipped a bit in 2023, they’re still more than double the pre-Recession peak in 2007. Want to see a more detailed report for your neighborhood? Request one today, and we’ll deliver it to your home or email.
According to the folks at Freddie Mac, average interest rates on a 30-year fixed-rate mortgage fell to 6.61% last week, the ninth consecutive week of decline, but still higher than one year ago (6.42%). Economic experts expect further declines heading into 2024, although the current dip has yet to spur an uptick in home sales due to a lack of inventory.
Here's a look at how key economic indicators fared in 2023:
It was another tale of two markets during November in San Francisco. Home sales and median prices were up year-over-year, and properties spent less time on the market. On the flip side, condo sales and prices experienced a dip from 2022, and properties took longer to sell.
