Every month we take a look at the Silicon Valley real estate market to discuss changes and trends. The median listing price is just over $2.2 million, which is about the same from last month. While inventory is decreasing, Silicon Valley property spends more time on the market than it did last month. The average is 97 days, up six days from last month’s average of 91 days. The asking price per square foot is $713, which is down significantly from last month’s $738. Properties that have dropped their price is at 38%.
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Silicon Valley real estate looks much more diverse when we examine the price quartiles. In the bottom quartile, the median price is $999,000, which is down a bit from last month. These houses are 1908 square feet and spend an average of 47 days for sale. In the third quartile, the median price of $1,893,500 has increased from last month. Houses in this bracket are 2822 square feet in size and sell in an average of 107 days. In the second quartile, the median price is at $2,843,944. This is a small increase from last month. These houses are 3170 square feet in size and sell in an average of 73 days. Finally, houses in the top quartile have a median price of $4,760,000 and are 5656 square feet in size. The spend around 162 days on the market.
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