The Heng Seroff Real Estate Group would like to update you on the latest housing market conditions. Please see below for our January to August 2021 market overview compared to the same period in 2020 for Santa Clara and San Mateo Counties.
Real estate markets are influenced by the basic economic principle of supply and demand. Throughout the major cities of Silicon Valley, we have observed the following:
• Market has reached an all-time high for single family homes having surpassed the highs reached in 2018.
• Many cities are enjoying double digit appreciation for single family homes year over year.
• An increase in price and decrease in inventory of single family homes in most areas has created upward pressure on prices.
• Demand is fueled by low mortgage interest rates and continued growth in stock market.
• People are trading up to larger spaces as “home” means more now.
• Prices of condos and townhomes are recovering in most areas.
• High end home market over $4 million is affected by the pandemic due to lack of international buyers.
To request an update on a specific neighborhood, please email email@example.com, or call Kim at (650) 516-7506.
SANTA CLARA COUNTY MARKET CONDITIONS
SAN MATEO COUNTY MARKET CONDITIONS
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