Sam Shueh
Realty One Group
Silicon Valley, CA
The economy is robust. Unemployment in Santa Clara County is 3.5%, one of the lowest year in a long time. The Yahoo, Microsoft layoffs do not seem make a dent as people already found jobs else where.
Some of companies that may take stocks public (i.e. IPO) like Uber, Dropbox are quite busy. No one says anything about social media companies or a slow down.
The mortgage payment from interest rate increase is small not affecting the affordability of most home buyers. Everywhere there is construction going where the vacant lots are almost all gone. They are building mostly three floor homes on a tiny lot and high rises.
Silicon Valley jobs depend on major players like Google, Apple, Intel, Linkedin and so far there is no sign any one of them will slow down. The near term future is bright. We are waiting for iPhone 8 unveil and confused by what these high tech speaker gadgets can do.
SOURCE:
Synopsis on Mortgage Interest Rate vs Affordability (Silicon Valley affordability)
Santa Clara and South San Francisco Bay Area Home Stats Q2 2016
How is my Silicon Valley home worth? (Silicon Valley Home Values)
Sam Shueh Real Estate Blogs
Website - Sam Shueh Realtor SamShuehRealtor at Gmail.com
(Four O Eight) 425-1601
| Housing Inventory Snapshot | June 27, 2017 | ||||||
| Average List Price | 30 Days Trend | Median List Price | 30 Days Trend | Average DOM: active/sold | 30 Days Trend | No of Listings | |
| Alameda County, CA | |||||||
| Single Family under $1M | $703,458 | 1.23% | $700,000 | 0.14% | 27 | -2 | 577 |
| Single Family over $1M | $1,891,599 | 2.03% | $1,495,000 | 0.47% | 47 | 4 | 339 |
| Condo/Townhome under $600K | $477,452 | 0.99% | $480,000 | 0.21% | 22 | 0 | 158 |
| Condo/Townhome over $600K | $776,528 | -0.63% | $734,990 | 1.38% | 28 | -2 | 133 |
| Contra Costa County, CA | |||||||
| Single Family under $1M | $653,306 | -0.64% | $649,950 | -0.01% | 44 | 2 | 2059 |
| Single Family over $1M | $2,924,204 | 2.75% | $1,825,000 | -2.93% | 71 | 5 | 2132 |
| Condo/Townhome under $600K | $442,451 | -0.22% | $450,000 | 0.00% | 32 | 2 | 391 |
| Condo/Townhome over $600K | $958,814 | 2.70% | $839,000 | 4.88% | 41 | 3 | 478 |
| San Mateo County, CA (most single family is over 1M now) | |||||||
| Single Family under $1M | $862,037 | 3.01% | $895,000 | 5.42% | 28 / 6 | 8 / -15 | 77 |
| Single Family over $1M | $4,592,062 | -3.77% | $2,499,000 | 0.04% | 62 / 31 | 1 / 20 | 337 |
| Condo/Townhome under $600K | $487,325 | 1.76% | $485,000 | -2.81% | 46 / N/A** | -11 / N/A** | 22 |
| Condo/Townhome over $600K | $1,120,176 | -0.38% | $997,210 | 7.81% | 24 / 15 | -6 / 5 | 87 |
| Santa Clara County, CA (Silicon Valley starter is 700K yes, they have a roof) | |||||||
| Single Family under $1M | $812,627 | 1.35% | $820,000 | 2.50% | 28 / 16 | 1 / -1 | 319 |
| Single Family over $1M | $2,690,257 | -2.21% | $1,799,888 | -5.02% | 51 / 16 | 0 / 3 | 602 |
| Condo/Townhome under $600K | $490,122 | 1.99% | $495,000 | 1.25% | 22 / 17 | -6 / 8 | 92 |
| Condo/Townhome over $600K | $953,210 | -0.40% | $840,000 | 1.82% | 29 / 9 | -2 / -2 | 162 |
| Santa Cruz County, CA | |||||||
| Single Family under $1M | $693,090 | -2.63% | $710,000 | -2.61% | 49 / 7 | 7 / -37 | 147 |
| Single Family over $1M | $2,196,943 | -0.50% | $1,575,000 | -1.50% | 80 / 51 | 8 / 22 | 180 |
| Condo/Townhome under $600K | $455,137 | -4.12% | $485,000 | 3.41% | 48 / N/A** | 0 / N/A** | 38 |
| Condo/Townhome over $600K | $837,993 | -2.42% | $754,900 | 0.65% | 88 / 27 | 21 / 12 | 47 |
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