The Heng Seroff Real Estate Group would like to update you on the latest housing market conditions. Please see below for our January to September 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:
• 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.
• August existing-home sales declined by 2% from July, the biggest monthly decline since April.
• Sales in August slid 1.5% from a year earlier, the first year-over-year decrease since June 2020.
• Home sales surged in the second half of last year and first half of 2021 due to pandemic-related lockdowns
• The home-buying frenzy is showing signs of slowing down.
To request an update on a specific neighborhood, please email firstname.lastname@example.org, or call Kim at (650) 516-7506.
SANTA CLARA COUNTY MARKET CONDITIONS
SAN MATEO COUNTY MARKET CONDITIONS
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