How the housing market changed in Santa Clara County

By
Real Estate Agent with Compass CalBRE# 01839597

How the housing market changed in the past 4 years in Santa Clara?

More statistics are available in this article. Median House Prices increased from $1,020,000 in 2016 to $1,380,000 in 2020. There has been a sharp increase in luxery home sales. Home sales of homes valued at least $3,000,000 and $5,000,000 almost doubled.

Home values between Gilroy and Morgan Hill are respectively $850,000 and $1,120,000 with homes in Morgan Hill being approximately 200 sqft larger on average.

What are the factors that drive these prices up so much especially in the Silicon Valley?

A SHORTAGE OF HOUSING, LOW INTEREST RATES AND THE NUMBER OF FIRST TIME HOMEBUYERS.

Interestingly, the home values for condos decreased. First time home buyers are willing to use their maximum buying power in order to get into single family homes that offer them more outdoor space. 

If you are curious to know the home values in neighborhoods in San Francisco check out the housing statistics for San Francisco.

Comparing single family home and condo sales

 

 

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Living in Morgan Hill

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Anja K. Kerstens
REALTOR®, GRI, CDPE, CHS, NHCB and ASP®
CalBRE#01839597 

COMPASS 

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Buy or Sell with your area specialist and REALTOR® getting homes sold faster.

 

Comments (2)

Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Anja. With all due respect, why does anyone want to live in SanFrancisco? And, you should ask the same of me living in Chicago! Enjoy your day!

Jan 28, 2021 05:05 AM
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Good morning Anja Kerstens, 669.270.8034 thank you for such a detailed and well thought out market report

Jan 28, 2021 06:07 AM