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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 Year 2023 versus Year 2022:
The Number of SOLD listings decreased by 24% to 10,143 properties, with a top sale of $18,000,000 million at 200 Lowell Avenue
The Average Sales Price increased by 1% to $1,772,679 million, moving the Average Price Per Square Foot down to $996 per square foot.
As measured in months supply, the inventory of properties available for sale decreased by 27% to 1.10 months’ worth of properties for sale.
The average 30-year fixed mortgage rate increased to 6.90%, according to Bank Rate.com.
If you’re considering buying or selling residential real estate, don’t hesitate to contact Gail.
