It’s time to check in with the Silicon Valley real estate market and see how things have changed since May. The median list price is just under $2.2 million, which is up from the median at the beginning of May, which was just under $2.1 million. Though the market is over all experiencing its usual price increase for the summer, the median is down significantly from last week. The average price per square foot is $738, which is down from May’s $757. Silicon Valley homes are selling somewhat faster than May, at an average of 91 days on the market.
Find Out How Silicon Valley Homes Are Selling Right Now
When we look at the quartiles, we see a more varied picture of Silicon Valley real estate. The bottom quartile has a median home price of $1,049,000 and are 1790 in size. These houses spend an average of 32 days on the market, which is longer than May’s 23 days. In the third quartile, the median price is $1,767,500 and the median size is 2458 square feet. They sell in an average of 90 days. The second quartile has a median price of $2,839,450. The are 3194 square feet on average and sell in 68 days. Homes in the top quartile have a median price of $4,425,000 and are 5858 square feet. They sell in an average of 175 days.
It’s a seller’s market, but prices have been falling for a few weeks. Demand has not decreased, so experts expect that prices should either level out or climb in the coming weeks.