Bay Area Housing Trends
Bay Area housing trends are easily summarized: As the supply of available homes dries up, prices go up. It’s the law of supply and demand. As of March 2018, Santa Clara County is experiencing 0.6 months of inventory for single-family homes. What that means is if no new homes were to come on the market, it would take approximately half a month for all existing homes to sell! The number of homes available for sale decreased 50% from the prior month and 46% from this time last year. As you guessed, the average sales price has shot up dramatically to $1.74 million, which is an increase of 23% from 2017. Talk about a hot “Seller’s Market”!
What does this mean for you as a potential Seller and how can you guarantee to get top dollar for your home? Contact us to find out about the current market trends in your neighborhood and what your home is worth.