And according to the latest article we were reading, that trend doesn’t appear to be going anywhere anytime soon.
Evidently, because spring home buyer are vying for a limited number of homes, the median price for Santa Clara County homes continues to rise.
If you’re in the market for a home for sale right now, we definitely recommend that you continue reading to learn more about the current state of the market.
What Home Buyers Should Know About Silicon Valley Home Prices
Here’s an overview of the market right now in Santa Clara County, based on the latest market report:
- The median price for Santa Clara County homes reached yet another all-time high in April, rising to $905,000.
– San Manteo County also set a record at $1,194,500.
- Alameda County also set a median price record at $609,000.
- Prices for single-family homes jumped from a year ago in all nine counties in the region, Core Logic reported recently.
- In Contra costa County, the $490,000 median price represented a $20,000 increase over March – as well as the highest it’s been since last summer.
- Meanwhile, the April Sales volume was 7.5 percent higher than a year ago in Santa Clara County, representing a three-year high.
- And the Contra Costa County sales volume was 16.5 percent high, marking a five-year high.
- Still, sales actually dropped by 10.4 percent in San Manteo County. And they also dropped by 3.1 percent in Alameda County.
- As a whole, the Bay Area saw overall home sales up 7 percent over last year.-
What This All Means for Silicon Valley Home Buyers
The recent market activity indicates that home buyers are having to pay a lot more money for area homes than they did during this time last year.
That’s why it’s critical to work with an experienced Silicon Valley real estate expert who can represent your best interests and try to get you the best price possible for your dream home.
We Can Help Make Your Silicon Valley Dream a Reality!
This is where we can help: We here at the Gary & Robert Real Estate Team have years of experience effectively helping home buyers just like you. And we would love the opportunity to assist you as well by answering any questions you might have as well as helping you navigate the market like an expert home buyer.
So contact us today to see what we can do for you!
Until next time,
Gary & Robert