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 August 2023 versus July 2023:
The Number of SOLD listings increased by 10% to 963 properties, with a top sale of $16,750,000 million at 1025 Lincoln Avenue.
The Average Sales Price increased by 4% to $1,847,774 million, and the Average Price Per Square Foot remained the same at $1,021 per square foot.
As measured in months supply, the inventory of properties available for sale increased by 8% to 1.30 months’ worth of properties for sale.
The average 30-year fixed mortgage rate increased to 7.32%, according to Bank Rate.com.
If you’re considering buying or selling residential real estate, please get in touch with Gail.