March 2023 Market Update

David Kim March 31, 2023

In the wake of the banking crisis, the Federal Reserve opted for a 0.25-point increase in the Federal Funds Rate at their recent meeting, instead of the expected 0.5-point increase or avoiding any rate increase due to the crisis. From a long-term perspective, the Fed's actions since 1981 can be reviewed in the chart below.

What we're currently seeing

  • Still historically low inventory
  • In most cities, the active vs. sold ratio is lower than 1, which means that the current inventory is not enough to cover the next month's demand, and we call it a "hot" real estate market.
  • High demand in most cities and multiple offer situations
  • The Fed raised 0.25 points of the rate.
  • Some are saying the rates will go up again because of credit tightening.

What does this mean for you?

For the sellers who are thinking of selling in the near future, it might be a good idea to sell before this market changes, especially for those who need to downsize.
For the buyers who want to buy before the interest rate increases further, they can take advantage of the lower purchase price than last year and refinance once the rate goes down.
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.

Flipbook Reports by County


What We’ve Been Up to

JUST SOLD | 1139 Katie Court
Cuesta Park
3 Bed | 2 Bath
JUST SOLD | 1079 Ticonderoga Drive
Cherry Hill
4 Bed | 3 Bath
JUST SOLD | 3520 Arbutus Avenue
Palo Alto
4 Bed | 2 Bath
JUST SOLD | 705 Mendocino Way
Redwood Shores
3 Bed | 2.5 Bath
JUST SOLD | 1004 Plover Lane
Palo Alto
3 Bed | 3 Bath
1 Bed | 1 Bath

Upcoming local events

Photos & Visits With Easter Bunny 2023: Stanford Shopping Center, Palo Alto

Through April 8 - Hours vary by day
Strike a pose, the Easter Bunny is here for photos! 
Reservations are strongly encouraged. Make Bunny reservations today by clicking here. 
Reserve your visit now and make it an Easter Tradition!
More info & reservation links here
Sat, Apr 29 - 7pm, Sun, Apr 30 - 2pm
Symphony San Jose will present Disney and Pixar’s Coco in Concert featuring a screening of the complete film with Oscar® and Grammy®-winning composer Michael Giacchino’s musical score performed live to the film. 

San Jose Center for the Performing, 255 Almaden Blvd.. San Jose, CA

More info & ticket links here

Blossom Festival - Kids' Fun & Petting Zoo
Sat Apr 29 - 10 am-4 pm
The event is free and open to the public.
Activities include a wide range of music; organizations such as the Master Gardeners, Beekeepers of Santa Clara Valley and more; local civic organizations such as the Saratoga Library, AAUW, Rotary, BookGoRound, Saratoga historical characters; book authors; Saratoga history lectures; and artisans.
Gourmet food trucks will also be part of the fun.
Over 15 children’s activity tables, petting zoo, and entertainment for all ages.
Heritage Orchard and Saratoga Civic Center, 13777 Fruitvale Ave., Saratoga, CA
Questions? Contact us

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