April 2023 Market Update | Silicon Valley Real Estate

The Market Continues to Recover, But with Many Dynamics at Play

March inflation figures were released Wednesday, April 12th: The overall inflation rate saw a significant drop from 6% to 5%.

Rates have been volatile for 5 weeks but ticked down again since the March inflation data came out this month.

Stock markets initially appeared unenthusiastic about the new inflation figures: The Dow, S&P, and Nasdaq all saw small declines Wednesday. But as of late Thursday, they made up for those declines and ticked back up into positive territory. Of course, inputs from a wide variety of data are constantly affecting financial markets.

What we're currently seeing:

Still a strong market with many buyers including cash buyers
About 80% of current transactions are non-contingent
More listings coming on the market for the last couple of weeks after the spring break

What does this mean for you?

It is still a good market for sellers if you are planning on selling or moving soon.

If you plan on making a move this year or next, let's get together to discuss your scenario and strategize for your next move. Reach out to us at (650) 988-5114.

Compass chart of daily 30-year fixed mortgage rates from February to April 2023, generally trending down.

Chart of mortgage rates since 1976, peaking above 18% in 1981 and rising sharply in 2022–2023.

Chart of weekly 30-year mortgage rates, rising to above 7% in November 2022 and ending at 6.27% in April 2023.

Flipbook Reports by County

Santa Clara County Real Estate April 2023 Report cover, featuring birds over a wetland.

San Mateo County Real Estate April 2023 Report cover with an aerial view partly covered by clouds.

What We’ve Been Up to

FOR SALE | 12161 Hilltop Drive

Los Altos Hills

5 Bed | 4.5 Bath

Illustrated beige home with a two-car garage and colorful flower gardens.

COMING SOON | 1720 Havenhurst Drive

Los Altos

3 Bed | 2.5 Bath

Open-plan living room and kitchen with floor-to-ceiling windows overlooking the water and hillside homes.

SOLD | 202 South St, #8

Sausalito

1 Bed | 1 Bath

Gray single-story home with a two-car garage, succulent landscaping, and a paver walkway to the front door.

SOLD | 500 Preston Drive

Mountain View

3 Bed | 2.5 Bath

Questions? Contact us

Recent Blog Posts

Modern home's sheltered oak entry beside limestone cladding and a broad window, with a red-leaf Japanese maple shading the paved approach.

Stan's or Randy's? On Homestead Road, the Answer Depends on the Time of Day

October 2026 Market Update

Oak entry door and dark-framed living-room window beneath a pale stucco overhang, beside limestone paving and a red-leaf Japanese maple.

Stevens Creek Boulevard's Empty Storefronts Are Finally Filling In

Modern home's sheltered entry with oak door, limestone courtyard, enclosed glass living room and sculptural live oak.

Downtown Palo Alto Got a Global Art Gallery Before It Got Its Own Museum

Modern stone-clad home entrance with a broad wood door, stone steps, and a red-leaf Japanese maple.

Menlo Park's Halloween Hoopla Weekend Starts Friday Night on Santa Cruz Avenue

Japanese maple with copper-red and green leaves beside a modern stucco home, above limestone paving and a planted bed.

Hakone Gardens Just Made Its Free Tuesday a Saratoga-Only Perk

Modern home with stucco-and-stone facade, broad lawn, entry path, and mature oak.

In Los Altos, You're Not Bidding on a House. You're Bidding on the Lot.

Stone estate facade with an arched entry, flanking cypress trees, and a red-orange Japanese maple.

Atherton's Fall Calendar Just Moved Off Holbrook-Palmer Park

September 2026 Market Update

View All

Work With Us

Partner with our dynamic team to unlock the full potential of your real estate endeavors in Silicon Valley. With our tailored approach and in-depth market knowledge, we'll ensure a seamless and extraordinary client experience.

April 2023 Market Update for Silicon Valley Real Estate