Housing stats for Santa Clara County.
Working with a Realtor who knows the local market best is more important than ever. With the high number of multiple offers you want to make sure your agent knows the micro housing market in order to be as competitive as a buyer can be.
The real estate market is hot and if you are thinking of selling now may be a good time. Many Californians are moving to more affordable cities either within the state or elswhere in the country, driving up home values in other states. Idaho, Arizona, Washington, Nevada and Texas are popular states with record home values. In Santa Clara county home buyers are searching for more space. The housing market in San Francisco is strong too.
Traditionally first time home buyers who are stretching to purchase a home in the Silicon Valley start by purchasing a condo or townhome. The pendemic has changed that. They are stretching to get into a single family home and the demand for that is high. We see a large number of offers on the few homes that are in inventory under $1,000,000. The need for outdoor space is important.
Almaden Valley is the most expensive neighborhood in San Jose and Alum Rock the most affordable.
The most expensive city in Santa Clara County is Los Altos Hills with a median sales price of $4,200,000 and the most affordable city is Gilroy at $899,500.