Silicon Valley Housing Market Forecast October 2018

Silicon Valley Housing Market Forecast October 2018

Hey guys Aaron Derbacher here with
your October Market Update. Things are really starting to level off which is
good. I’ve been talking about this for a while. This has been the
correction that we’ve needed. Housing prices for a single-family house here in
Santa Clara County is $1,472,000 With that being said you’re gonna take 26 days on the market on average to get
your home sold which is definitely up from last month. Last month was 21 days.
If you’re thinking about pricing your home you need to price it right at what
you want 2.2 percent is the average list to sale price ratio to get your home
sold quite a few homes in this past month did not sell with that 49 did not
sell 746 homes did sell and right around 1500 homes were listed. Leading indicator is supply and demand.There’s a lot of supply so buyers have a lot more to
choose from also something that’s slowing down housing prices is the
interest rate. Interest rates are almost 5% if not already 5%. I’m expecting us to
rebound a little bit next month with buyers that haven’t been in the market
for a while that got frustrated earlier this year. And this is
kind of the time of year that people make their last-ditch effort before the
holidays to get their new home. Stick with me, next month I think it’s
gonna change but if you have any questions message me below and I’ll see
you guys soon.


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