In 2023 and 2024 Q1, single family homes in Santa Clara County concluded with an average sales price of $1,935,598 and $2,134,007, respectively. As of this week, 2025 Q1 the sale price for single family homes are averaging $2,446,047. That's a whopping 27% price increase since 2023 Q1 and a 14.7% increase since 2024 Q1!
I believe there's bound to be on-going economic and global uncertainties for the remaining of the year. This could mean vicious bounces and corrections in the stock market. While buyer sentiment could cool off in between months, I still don't expect a drastic change in sales prices. So as a potential home buyer, you want to build and preserve as much hard cash as you can. It'll give you the opportunity to get in the market! As for homeowners that are on the lookout to refinance, I anticipate you'll have the window to do so some time around July if the stock market tends to be weaker. The Fed loves to jump in whenever the stock market is in its' fragile stage!
Keep your head up! Let me know if you need anything!
