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How is the real estate market doing in the third quarter in the Bay Area 📈

We go over Santa Clara, Sunnyvale, Cupertino, and San Jose 🏡

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So what’s happening here locally in our Santa Clara County real estate market?

Everybody wants to know, is now a good time to buy and is now a great time to sell.

It can be so confusing with all the news, be it positive or negative, on what is the right decision for you and your family. I totally understand.

I’ve been in this industry for the past 11 years and I know I can help you navigate this market.

Let’s look at the data of what’s happening so you can make an educated decision.

First off, according to real estate experts and advisors, anytime that you have inventory levels, meaning the number of active homes on the market that are at six months inventory or below, we are in a seller’s market. And anytime that we have levels above six months, that means we are in a buyer’s market.

It’s simply supply and demand. Anytime there’s an excess of supply and it’s easy to get, you simply can’t sell it for more money. But when there’s a limited supply, then prices will go up.

So let’s see what inventory levels are doing here locally. Is it a good time to sell in Santa Clara County? Well, let’s take a look at the activity in the month of October.

In the city of Santa Clara, we currently have 39 homes active on the market. Last month, we sold 62 homes with a median price of 1.57 million.

In Sunnyvale, we currently have 38 homes active on the market. In the previous month, 60 homes were sold with a median price of $2.2 million.

In the city of Cupertino, we currently have 25 active homes on the market. Last month, 36 homes were sold with a medium price of $2.6 million.

And finally in San Jose, we currently have 326 homes on the market. Last month, we did sell 564 homes, with the medium price of 1.42 million.

So here in the Santa Clara County, not only do we have very low inventory, but we also have very strong buyer demand.

It’s a great time to sell, as we are experiencing bidding wars and homes are selling over list price in almost every case. Feel free to reach out to us at no cost or risk for a hassle-free strategy session.

I look forward to hearing from you and make it a great home buying and selling day!

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