It’s the first Monday of February, so it’s time to check in and see how Silicon Valley property is selling. The median price of a Silicon Valley home is $2,463,000. This is relatively unchanged from last month’s median of $2,350,000. On the other hand, the average price per square foot is $826, up significantly from last month’s $784. The average number of days a house spends on the market is also down, at 126 days from 150 days a month ago. Though the median price is holding fairly steady, demand seems to be increasing, as measured by how long homes remain on the market. The market remains in seller’s territory. This could change, however, if demand slows or prices drop.
A Silicon Valley Home Is Selling Faster in February
We turn from our general overview of the Silicon Valley property market to look more specifically at the quartiles. We’ll start at the fourth quartile. The median price of these homes is $1,162,500, which is up from last month’s $850,000. These houses are 1,548 square feet, with three bedrooms and two bathrooms. They spend an average of 62 says on the market. In the next quartile, the median price is $1,877,000, which is roughly the same as January’s $1,848,500. These houses are 2,556 square feet and have four bedrooms and three bathrooms and spend an average of 129 days on the market.
When we come to the quartile that’s second from the top, we find a median price of $2,924,000. This is down from the median price of last month, which was $3,594,000. These houses are 3,011 square feet with four bedrooms and three bathrooms. They sell in an average of 98 days on the market. In the top quartile, the median price is $4,992,500. This is down a bit from the median of January, which was $5,250,000. The average size of these houses is 5,356 square feet and have five bedrooms and five bathrooms. They spend 205 days on the market on average.