Housing and Market Updates
Single family home sales data from December is in! Silicon Valley and our six neighboring counties in the San Francisco bay area and coastline continued to reflect normal seasonal trends. Homes took a bit longer to sell and for less money compared to November sales. There were also far fewer homes on the market in December even when compared to last year at this time.
The good news for buyers is that prices are typically at their lowest at this time of year. The market data consistently reflects that prices take their deepest dip in December, and then begin to climb as we head toward the spring season. So although there’s less to choose from, if you’ve been thinking about buying a home, then this is a fabulous time of the year to take the leap into home ownership! I like to refer to this season as the time of the year when homes are on sale!
Here are the new median sales prices for single family homes across our 6 local counties:
⬇️Santa Clara County - $1.46M ($1.58M in November)
⬇️San Mateo County - $1.55M ($1.71M in November)
⬇️Santa Cruz County - $1.16M ($1.24M in November)
⬇️Monterey County - $778K ($815K in November)
⬇️Alameda County - $1.05M ($1.16M in November)
⬇️Contra Costa County - $770K ($860K in November)
As you can see from the data, all counties showed a decline between November and December sales. Relative to year-over-year changes, these counties also showed declines in median sale prices in December 2022 compared to December 2021.
If you’re looking for homes in a lower price range, then check out my blog post for December home sales data for Condominiums and Townhomes where there were some surprising trends. Spoiler alert - some counties show price INCREASES year-over-year for December!
Here are the detail charts for Silicon Valley and our nearby bay area and coastal counties:
Please don’t hesitate to reach out (DM, text, email, call) with any questions. For a home value estimate, click here. For more information about housing market trends, check out my latest blog post here.
Hello! I'm Janet Souza, lifestyle blogger and REALTOR® at Christie's International Real Estate Sereno. I live and work in Silicon Valley and love everything our wonderful area has to offer. If you live in Silicon Valley or are thinking about moving here, you've come to the right place! Stay up to date with local events, theater, concerts, Real Estate and more!
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