Quote:
Originally Posted by BMW F22
I’m in NorCal/Silicon Valley. I have seen a lot more listings come online and a lot are sales pending but could end up falling through. Prices have dropped about 10-15%. I foresee it dropping much more if things don’t get better.
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The July numbers in Santa Clara County for single family indicate otherwise:
Median price is up 6.6% YoY and average price is up 10.6%
Number of sales are up 11.8%. YoY but active listings are off 42.1%
Days on market are only up 2.3% at 27 days (average since 2003 is 89 days)
Days of inventory are down 48.2%
Sale price to listing is at 101.7%
Condos are down though and other counties could be different.