Welcome to The Rossetti Realty Market Update.
If you’re considering buying or selling residential real estate, it’s essential to understand the current market trends.
According to MLS Listings, the marketplace for Santa Clara County residential properties, here’s what happened in July 2023 versus June 2023:
The Number of SOLD listings decreased by 25% to 830 properties, with a top sale of $14,000,000 million at 1431 Webster Street.
The Average Sales Price decreased by 4% to $1,785,159 million, moving the Average Price Per Square Foot down to $1,028,000 per square foot.
As measured in months supply, the inventory of properties available for sale increased by 40% to 1.40 months’ worth of properties for sale.
The average 30-year fixed mortgage rate increased to 6.98%, according to Bank Rate.com.
If you’re considering buying or selling residential real estate, don’t hesitate to contact Gail.