The numbers are in for March home sales and the charts below continue to illustrate what we see every day – it’s a sellers’ market! With extremely low inventory of homes for sale coupled with a lot of people wanting to buy homes, it’s the perfect storm for highly competitive bidding wars. This is excellent news if you are selling your home in this market, as the prices are continuing to go up. For home buyers, it can be discouraging as that means that buyers are being priced out of the neighborhoods they want to live in.
The new median price of a home in Santa Clara County has now reached $1.6 million dollars – that’s $200,000 more than this same time last year.