Silicon Valley Real Estate Market Update: November, 2018
I update Silicon valley Real Estate Market Trends every month. Let’s review what happened in the month of November, 2018.
Total of 1024 homes sold.
Bay Area Home Sales were the slowest in November in seven years.
Average sales price was 1.366M.
The gap between Actives & Pendings are the widest it has been past 5 years.
90% of homes sold have a multiple offers, but the sale price is 2% over the list price, which is in slow decline month over month. Back in April this year, Sale to List price ratio was 112%, the highest for 2018. Sales for single family homes are 9.9% up but condo sales are 6.8% down from the last month.
What does this mean for you? if you are moving up or out of the area? There are huge opportunities for a move-up and move-out of state buyers. Make an appointment with Young today to maximize your opportunity right away.
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