Sam Shueh
BRG Realty
San Jose, CA 95124
SamShuehRealtor at Gmail.com (408) 425-1601
We have seen a sharp increase in mortgage interest rates last few months. We have also experienced minute reduction in working force in Silicon Valley. What is not clear is the housing industry is still very active. What we do not see is homes still quickly sold over 25% as a few months ago. Rather most homes sellers still have more buyers than they know what to do. Unless homes are grossly overpriced offers come in without viewing.
As Feds appear to stall interest rate increase, people are expecting lower mortgage interest rate or able to refinance soon. There is no caution we have a market correction.
Housing Inventory | January 31, 2023 | |||||||
Avg List Price | 30 Day | Average Sold Price | 30 Day | Average DOM: active/sold | 30 Day Trend | Number of Active Listings | 30 Day | |
Alameda County, CA | ||||||||
Single Family | $922,550 | +4.35% | $992,292 | +2.70% | 55 / 40 | -16 / 6 | 398 | 89 |
Luxury Single Family | $2,787,322 | -3.21% | $2,128,609 | +8.98% | 66 / 31 | -24 / 1 | 133 | 25 |
Condo/Town | $625,728 | +0.37% | $616,795 | +5.15% | 58 / 51 | -12 / 1 | 178 | 38 |
Luxury Condo/Town | $1,205,589 | -2.17% | $1,184,285 | +0.44% | 66 / 51 | -27 / 10 | 56 | 13 |
Contra Costa County, CA | ||||||||
Single Family | $836,563 | +4.58% | $748,241 | -3.56% | 59 / 41 | -13 / -3 | 473 | 51 |
Luxury Single Family | $2,907,121 | +3.80% | $2,218,293 | +5.05% | 77 / 30 | -19 / -9 | 151 | 12 |
Condo/Town | $509,320 | +3.08% | $475,813 | -2.30% | 48 / 49 | -18 / 3 | 130 | 17 |
Luxury Condo/Town | $1,188,107 | +3.30% | $1,043,750 | -5.61% | 44 / 40 | -24 / 15 | 42 | 7 |
Monterey County, CA | ||||||||
Single Family | $1,080,908 | +8.14% | $917,190 | +8.74% | 78 / 45 | -9 / 6 | 194 | 1 |
Luxury Single Family | $7,829,982 | +5.61% | $5,411,167 | +14.39% | 124 / 59 | -14 / 8 | 65 | 1 |
Condo/Townhome | $611,054 | -7.07% | $504,062 | -2.05% | 62 / 33 | -2 / 2 | 24 | -1 |
San Mateo County, CA | ||||||||
Single Family | $2,231,435 | +8.83% | $1,746,471 | -5.10% | 68 / 35 | -19 / 2 | 205 | 41 |
Luxury Single Family | $10,824,794 | +4.99% | $12,245,000 | N/A | 140 / 29 | -26 / -40 | 66 | 14 |
Condo/Town | $740,030 | -6.80% | $817,078 | -6.35% | 107 / 35 | -24 / -14 | 87 | 9 |
Luxury Condo/Town | $1,674,101 | -5.01% | $1,712,332 | -0.40% | 64 / 91 | -16 / 71 | 28 | 7 |
Santa Clara County, CA | ||||||||
Single Family | $1,655,020 | -1.41% | $1,588,776 | +0.11% | 66 / 25 | -25 / -3 | 382 | 80 |
Luxury Single Family | $6,134,097 | -6.41% | $4,512,005 | +11.26% | 109 / 56 | -22 / 15 | 119 | 25 |
Condo/Town | $843,243 | +5.01% | $832,992 | +2.04% | 63 / 33 | -19 / 1 | 199 | 54 |
Luxury Condo/Town | $1,819,884 | +3.43% | $1,617,700 | -1.52% | 73 / 27 | -16 / -3 | 63 | 15 |
Sam Shueh (408) 425-1601
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