July 2023 Market Update

David Kim August 2, 2023

What’s Happening During Summer

The available inventory supply has dropped slightly as two factors start to play out Sellers starting to understand that the Buyers are shopping prices, and Buyers coming to the conclusion that the housing market is not in a free fall. Both of these realities are true and the market has shown that "deals" can still be made with a willing buyer and seller. 

Although most of the areas of the region are still below their 26-week sale average, there are some bright spots as the reality sets in that the housing supply is still in strong demand for Buyers that have the resources.

Current Market Trends: The current market has extremely limited inventory because of the elevated interest rates, making it impractical for homeowners to let go of the favorable 2-3% interest rates they obtained over the past couple of years. Due to the scarcity of available properties, eager buyers are quick to seize opportunities in desirable neighborhoods. Particularly, houses in excellent condition generate significant interest and are sold within a week, often receiving multiple offers.

Upcoming Events: Beyond the real estate market, our community is buzzing with exciting local events! Make sure to scroll down to the Upcoming Local Events section below.

These events offer an excellent opportunity to engage with the vibrant community around us and create lasting memories.

Whether you are considering a real estate move this year or the next, we'd love to sit down with you and discuss your goals. Let's strategize and create a plan tailored to your specific needs and preferences. Don't hesitate to reach out to us at (650) 988-5114 to get started. Our dedicated team is eager to assist you in achieving your real estate objectives!
 

Bay Area Interactive Home Price Maps

Check out the below interactive home price map links with median sales price data, based on the last 4 months of sales.
 
Median sales prices are generalities that often fluctuate and can be affected by other factors besides changes in fair market value. They typically disguise a huge range of prices in the underlying individual sales, and all prices should be considered approximate. It is impossible to know how median and average value statistics apply to any particular home without a specific comparative market analysis. Data from sources deemed reliable, may contain errors and are subject to revision.


Rent or Buy? You Choose

 
The 2021 American Housing Survey provides a demographic profile of owners and renters and the types of housing and neighborhoods they choose.
 

Most U.S. Owners:

  • Had a home that was a detached, one-unit building.
  • Believed their neighborhood had good schools.
Of the 5,380,000 U.S. homeowners planning to move in the next 12 months, 38.3% said they planned to move to a different city.
 

Most Renters:

  • Had a Home in A Building with Two or More Apartments.
  • Believed Their Neighborhood Has Good Public Transportation Services and Schools.
Of the 14,375,000 Renters Planning to Move in The next 12 months, 39.3% said they planned to move to a different neighborhood in the same city.
 

Flipbook Reports by County

 

 

What We’ve Been Up To

 
FOR SALE | 1952 McNair St
East Palo Alto
4 Bed | 2.5 Bath
 
 
SOLD | 4238 Rickeys Way, Unit M
Palo Alto
4 Bed | 3 Bath
 
 
SOLD | 1193 McBain Avenue
Campbell
4 Bed | 3 Bath
 
 
COMING SOON | Single-Family Home
San Mateo
3 Bed | 2 Bath | 2,400 SF
 

Upcoming Local Events

Building the Future: A Visual History of the Architecture of Silicon Valley

Aug 3 - Oct 22, Thurs to Sun, 12 PM - 4 PM
 
Explore the evolution of Silicon Valley's high-tech architecture through Richard Adler's stunning photography.
 
Discover iconic structures from the humble beginnings of Hewlett Packard to the modern headquarters of Adobe, Apple, Google, Meta, Nvidia, and others. 

Free admission. Learn more at Los Altos History Museum
 
Location: Los Altos History Museum, 51 S San Antonio Rd, Los Altos, CA, 94022
 
 

'Beetlejuice' 2023: SJ Center For Performing Arts

Aug. 1-6, 2023 Tues-Thurs: 7:30 PM Friday: 8 PM Sat: 2 PM and 8 PM Sunday: 1 PM and 6:30 PM
 
It’s showtime! Based on Tim Burton’s dearly beloved film, this hilarious musical tells the story of Lydia Deetz, a strange and unusual teenager whose whole life changes when she meets a recently deceased couple and a demon with a thing for stripes.
 
Location: 255 Almaden Blvd, San Jose
 
More Info Here
 
 

Dog Days of Summer

Sat, Aug 12, 2023, at 12 PM

The Dog Days of Summer are here! Bring your furry companions to the park at The Village at San Antonio Center to create your own Dog Treat, a personalized dog bandana, then strike a pose in our dog-themed photo booth. All activities are available while supplies last. Free to attend, event registration is encouraged.

Location: 645 San Antonio Rd, Mountain View, CA, 94040
 
 

TINA – The Tina Turner Musical 2023

Aug 29 - Sept 3
Tues-Thurs: 7:30 PM
Fri: 8 PM
Sat: 2 PM and 8 PM
Sun: 1 PM and 6:30 PM
 
An uplifting comeback story like no other, the inspiring journey of a woman who broke barriers and became the Queen of Rock n’ Roll.
 
More Info Here

Location: SJ Center for the Performing Arts, 255 Almaden Blvd., San Jose, CA
 
 
Questions? Contact us

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