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September 2022 Market Update

Santa Clara county’s new listings hit their 6th consecutive monthly decline, having September as the lowest since its peak in March. This shows that there is low supply in the market and some people are holding back from selling or playing safe. Median Sales Price, on the other hand, shows a little increase of 4%  from last year and less than 1% from August. Closed Sales also increased by 10%. 

Check report below:

 

How does the decline in the market, high mortgage rates, and inflation affect the consumers? A survey conducted by Fannie Mae’s National Housing Survey indicates that 59% say it’s a good time to sell while only 19% say it’s a good time to buy.