We’ve been saying this. We saw what was happening. Now the August stats (click on the links), confirm that the median sales price of single family and condo/townhomes in Santa Clara county ROSE in August. This is what happens when demand exceeds supply.
Rates are up. Houses keep selling. The single family and condo/townhouse inventory has grown to 1290, mid-week, which is still a pitiful, small amount of homes, barely an increase in available property.
Rates are expected to ease, we hope soon, but into the new year we should be seeing lower rates. At the same time, with prices rising in this valley, it’s best to buy that property now, lock in the price, thus lock in the monthly payment, and refinance the loan later, when the rates come down. What if you wait to buy till the rates come down? Sounds logical, right? NO!
History shows us that you will just be buying a more expensive property with lower rates. It's the price of the property which is more important.
We need more on the market for buyers. Do you have friends or relatives who might consider selling? Please call me.
Check out the most recent Santa Clara County stats below:
Single Family Homes
Condos and Townhouses
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