Sam Shueh
BRG Realty
San Jose, CA 95124
(408) 425-1601 Sshueh@gmail.com
People who obtained their mortage at historically low rate who want to move or relocate have second thoughts. They can not afford a steep mortgage payments. They will stay. This causes a 25% inventory resulting in a sellers market scenario again. With what is on the market people start a bidding war.
Want a million dollar home, sorry it is more like 2 millions now.
| Housing Inventory Snapshot | July 31, 2023 | |||||||
| Average List Price | 30 Day Trend | Average Sold Price | 30 Day Trend | Average DOM: active/sold | 30 Day Trend | Number of Active Listings | 30 Day Trend | |
| Alameda County, CA | ||||||||
| Single Family | $959,083 | -5.53% | $1,116,611 | -1.46% | 36 / 16 | 0 / 1 | 457 | -3 |
| Luxury Single Family | $2,954,335 | -6.85% | $2,203,536 | -6.43% | 45 / 17 | -4 / 0 | 153 | 1 |
| Condo/Townhome | $599,269 | -2.81% | $639,075 | +1.37% | 43 / 18 | 3 / -7 | 248 | 11 |
| Luxury Condo/Townhome | $1,180,595 | -2.32% | $1,116,214 | +4.72% | 38 / 13 | 3 / 1 | 82 | 9 |
| Contra Costa County, CA | ||||||||
| Single Family | $890,663 | -2.46% | $873,282 | -8.17% | 36 / 20 | 0 / 0 | 564 | 76 |
| Luxury Single Family | $3,056,901 | -5.66% | $2,402,370 | -10.39% | 51 / 19 | 1 / 4 | 189 | 26 |
| Condo/Townm | $501,565 | -1.43% | $542,804 | +1.80% | 49 / 24 | 3 / -1 | 170 | 9 |
| Luxury Condo/Townhm | $1,169,240 | +1.39% | $1,156,891 | +7.04% | 44 / 17 | 2 / -2 | 53 | 0 |
| Monterey County, CA | ||||||||
| Single Family | $1,325,656 | -6.82% | $1,161,006 | +11.68% | 63 / 25 | 5 / 1 | 188 | -18 |
| Luxury Single Family | $6,270,775 | -15.61% | $5,910,641 | +34.95% | 116 / 53 | 0 / -3 | 58 | -7 |
| Condo/Townhm | $871,157 | -5.08% | $835,364 | +11.56% | 58 / 22 | 9 / 1 | 19 | -6 |
| San Mateo County, CA | ||||||||
| Single Family | $2,377,911 | -7.09% | $2,009,114 | -9.17% | 64 / 18 | 4 / 0 | 291 | -41 |
| Luxury Single Family | $11,688,706 | -6.15% | $7,507,660 | -21.39% | 113 / 30 | 30 / -17 | 91 | -10 |
| Condo/Townhm | $814,805 | -4.71% | $888,130 | -6.49% | 97 / 39 | -4 / 21 | 115 | -4 |
| Luxury Condo/Townhm | $1,858,625 | -4.31% | $1,577,333 | -9.46% | 52 / 28 | 12 / 23 | 35 | 3 |
| Santa Clara County, CA | ||||||||
| Single Family | $1,926,857 | +2.06% | $1,838,023 | -2.74% | 54 / 14 | 4 / -1 | 441 | -32 |
| Luxury Single Family | $7,071,576 | +1.70% | $5,003,800 | +6.47% | 107 / 24 | 10 / 3 | 141 | -11 |
| Condo/Townhm | $842,126 | -1.71% | $828,930 | -6.78% | 35 / 23 | 0 / 7 | 217 | -4 |
| Luxury Condo/Townhm | $1,789,291 | +5.78% | $1,585,922 | -0.31% | 43 / 16 | -3 / 1 | 66 | 0 |
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