Past Two Years: Evolution of Prices, Locally - Silicon Valley

These figures are Average sales prices for all houses, condos and townhomes combined.

SCC:  +41% - between Jan. 2020 and Dec. 2021 - SMC: +40%   

Along with these figures, here are a few data points: 

Nationwide, borrowers had a record $9.4 trillion in tappable home equity collectively, or an average of $178,000 per borrower, according to Black Knight.  In California, home sellers typically pocketed a net cash gain of $322,500 from the sale of their homes in 2021 – a 96% increase from the purchase price.

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Francis

Silicon Valley real estate
Tre

nds: Local prices and graphs.

How much is your home worth?

Consumer Sentiment January 2022

 Tough times for buyers....

My advice, after working through several of those up and down cycles: save yourselves all the rookies mistakes in purchasing a home (like working with a discount agent): hire an experienced professional who is patient and persistent, and well-known in the Realtors community.

For sellers: yes it is easy to find a buyer for your property right now, but it is not a reason to cut corners with your mandated disclosures.  Here again, I would advise the same: work with a seasoned professional. 

Like my updates? Subscribe to my Blog! Thank you for reading,

Francis

Silicon Valley real estate
Tre

nds: Local prices and graphs.

How much is your home worth?