Hello fall in Silicon Valley! Hello fall market! Sounding like a broken record, the market remains “normal;” buyers are able to make and win offers without too much competition, if any at all, and contingencies, the safety valve for buyers, are now acceptable again. Sellers realize that they have to spruce up the house for sale, and realistically price their property for this market.
One thing I always remind sellers...remember what you paid for the property. Many sellers have owned their property for years, and are looking at the crazy market of early 2022 as their price guide. Instead, they should be considering how much growth their property has had in value since they purchased it. Almost everyone has seen growth, even as the current market values settle a bit. By the way...the sky is NOT falling. Don't look for deep price dives at this time.
My standing advice for buyers…look at the monthly payment you will need; not at the price of the house.
Take a look at the current Santa Clara County market stats available to see how things have changed from this time last year:
Latest Santa Clara County Single Family Sales Stats
Latest Santa Clara County Townhouse/Condo Sales Stats
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