Скачать или смотреть AUG 2023 | Real Estate Market Update | Santa Clara County | Heather Lange Homes

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AUG 2023 Stats for Single Family Homes in Santa Clara County are here!

While inventory remains unseasonably low for this time of year, active homes rose by 16% from this time last month with 844 single family homes available in all of Santa Clara County. Still a far cry from over 1,400 SFH this time last year. Pending Sales were up by 11% and Sold Sales up by 7% from this time last month; evidence that eligible buyers are still eager to make their purchases.

Months’ worth of inventory went up by 8% from July, yet still resting under 1 ½ months. The Average Days on Market did increase by 13%, with homes taking an average of 18 days to get into contract in August. August is typically the month for final vacation get-aways and the start of the new school year, both possible factors for the uptick of this stat.
The Average Sales Price went up by 7%, now resting just above $2.2ML; with the Average Price per Square Foot having gone up by 1%, now resting at $1,137/SF.

We did however see a slight 1% decrease in the Sale to List Price ratio; possible evidence coming from the increase of the 30 year Conforming Fixed Mortgage Rate as noted by Bankrate, ending August at 7.32%
The Bay Area housing market continues to remain healthy, steady and moving due to the lack of inventory; yet buyers remain concerned about mortgage rates continuing to rise – cutting into their purchase power and loan eligibility. Buyers are showing that they are more selective in their purchase decisions, based on condition, the work that needs to be done - what they are inheriting and what they want to change, and they are showing less inclination to compete with other buyers to make their purchase.

The FED has made it clear that although headway continues to be made to ease inflation, he is determined to have it further ease toward the 2% goal and has not ruled out further hikes. It is unclear whether that will happen when they meet again in the 3rd week of September, or if continued pause will take place as we head into the 4th quarter of 2023.

For those homeowners that do need to make their move, it’s an excellent opportunity to glean top dollar for your home in this current market; yet best to be strategic and work with a professional who knows how to navigate and advice for your local market and condition of your property.
If you are ready to discuss next steps for your move, whether a seller or buyer, reach out to me for strategic, diligent, and trustworthy advice. I’ll help you reach your purchase and selling goals successfully.

[email protected] | 408-207-3130.

Sellers - Jump start with Heather’s Strategic Selling Plan:
https://www.LangesFreeHomeSellerCours...

Buyers - Jump start with Heather’s Strategic Buyer Plan: https://www.LangesFreeHomeBuyerCourse...

Buyers – Start looking for your dream home the way Realtor’s do: https://heatherlangehomes.com/homes-f...

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