We hope you’re having a great Labor Day weekend! We’re checking in with Silicon Valley property to see the latest trends. The median home price is $2,198,500. This is about the same as last month. Prices remain in the plateau we’ve seen for the past few months. Asking price per square foot is at $786, essential unchanged from last month. Silicon Valley homes spend an average of 101 days on the market, which is close to last month’s 99 days. The market remains in seller’s territory. Over the last few weeks, we’ve seen a decrease in inventory, which tends to favor sellers more strongly.
Read the Latest News on Silicon Valley Homes
Silicon Valley property has a more varied picture when it’s divided into quartiles. The bottom 25% of houses have a median price of $925,000. They are an average of 1906 square feet in size and sell in 68 days. The third quartile has a median price of $1,768,000 and are an average of 2344 square feet. These houses sell in 81 days. In the upper quartile, houses have a median price of $2,894,444. They are 3564 square feet and sell in 77 days. The top quartile has a median price of $5,162,000. These properties are an average of 5494 square feet and sell in 182 days.
To discuss your plans for buying or selling on the Silicon Valley market, give us a call!