Market Trends – September 2022

Let’s create the most remarkable experience this season and fall for what you love! As with our market activity, fall is one of the busiest seasons. Whether it’s finding a few moments in your day to do something you enjoy or creating a dedicated personal space for yourself, there is no better time than now to unwind and destress from our day-to-day lives!

In early autumn, we typically see significant spikes in market activity. However, as of early September, interest rates have increased again and stock markets have declined again. Price reductions and active listings on the market are continuing to rise, whereas new listings coming onto the market have continued to decline since early spring. With current market issues and prevailing uncertainty, this season’s market activity will be difficult to predict.

Fall in love with your home again! During busy seasons, we often forget the importance of setting time out for ourselves to recharge mentally and physically. Creating a space in your home designed explicitly for decompressing from each day’s stress can boost mood, immunity, and well-being. This month, we at Silicon Valley and Beyond have curated a few guidelines to embrace when creating a space to inspire relaxation and serene, calming energy. Check out the full blog at SVAB365.

As always, if you have any questions about this month’s market conditions, or buying or selling a home, please don’t hesitate to reach out to us. Our team at Silicon Valley and Beyond often helps our clients plan 2+ years out. Please do not ever think that contacting us is too early in the process. We handle everything—including planning moves!

We’d love to hear from you! Let us know if you’d like to chat about what we are seeing in the current marketplace. Book a 15-minute call with Dawn here.

Here’s to creating a better future,

Dawn Thomas
Broker Associate – Team Leader
650-701-7822
Dawn@SiliconValleyAndBeyond.com
Dawn is certified from the Program on Negotiation at Harvard Law School

Brian Brunetti
Realtor – Senior Sales Associate
831-239-9890
Brian@SiliconValleyandBeyond.com

Charles “Chuck” Holcomb
Realtor – Sales Associate
408-357-0322
Charles@SiliconValleyandBeyond.com

The Dawn Thomas Team guides nice people through real estate matters in Silicon Valley and beach communities of Santa Cruz County. Our mission is to inspire and create the most remarkable real estate experience — one person, one family, one home, one neighborhood at a time. Contact us today and we can assist you in selling or buying your home.

ACTIVE
3765 Farm Hill Blvd., Redwood City
Large, remodeled Farm Hill Estates home offering 4 bedrooms, 3 1/2 bathrooms, swimming pool and a private entrance to Stulsaft Park
Offered at $3,500,000
650-701-7822 – Dawn or
408-367-0322 – Chuck
Open House Sat/Sun 1-4 pm

3160 Vistamont Drive, San Jose
Newly renovated!
$1,275,00
650-701-7822 – Dawn or
831-239-9890 – Brian

16100 Greenridge Terrace, Los Gatos
Build your dream home!
Approximately 7.76 acres
Offered at $3,950,000
650-701-7822 – Dawn
408-367-0322 – Chuck
831-239-9890 – Brian

COMING SOON / PRIVATE EXCLUSIVES
951 Blair Court, Palo Alto
Rare, large Eichler home with flexible floor plan in Triple El. Live in one portion of this large home and rent out the other—2 kitchens, 3 entrances, 2 mailing addresses
Offered at $4,000,000
650-701-7822 – Dawn or
831-239-9890 – Brian

2960 Sanor Place #104, Santa Clara
$1,900,000
831-239-9890 – Brian

PENDING
760 University Avenue, Palo Alto

SOLD:
12120 Viewoak Drive, Saratoga (multiple offers)

REPRESENTED BUYER CLIENTS:
4575 Sidlaw Court, San Jose
2621 Willowbrook Lane #108, Aptos

COMING SOON – DEVELOPMENT OPPORTUNITIES
La Terra Development
0 Santella Drive, Los Gatos
(above The Highlands off of
Santella Court)
Modern, Luxury Development
7 multi-acreage lots with infrastructure and sweeping views of Silicon Valley! Entire 28+ acre development
Offered at $17,500,000 including completed roads, curbs and gutters and utilities
Please reach out to us for more information and pricing at VIP@SiliconValleyandBeyond.com
650-701-7822 – Dawn
408-367-0322 – Chuck
831-239-9890 – Brian

60 acres in the Soquel Mountains
0 Old San Jose Road, Soquel
10 minutes from town
3 building pads on sight
Offered at $1,245,000
831-239-9890 – Brian

Market Conditions in Silicon Valley and Beyond

Despite markets continuing to slow and cool, buying and selling continue. In July, over 5200 home sales were reported to MLS from Napa County to Monterey, with many homes selling for over the asking price. 58% of sales closed over the final list price in San Mateo; 51% in Santa Clara; and 55% in Santa Cruz.

One word: BALANCED

We haven’t heard that word when describing our marketplace for a very, very long time! Of course, there are nuances in the areas that we serve. There is never a blanket descriptor for all areas of our unique marketplace because they all differ from one another.

As of September, mortgage rates have risen above 6%. Buyer interest also has seemingly begun to increase with the decline in competition, price reductions, and increase in inventory. In all three counties that we serve, price reductions on active listings have soared; up by 138% in San Mateo, 194% in Santa Clara, and 133% in Santa Cruz. With recent price reductions, there is no better time for those who are looking into moving or buying a home. In the Bay Area, the luxury home market can get you 5+ bedrooms, 4+ bathrooms, and 4,000+ of living space. In San Mateo, this equates to a median square footage of 5,310 and a median sales price of $7,045,000. In Santa Clara, a median square footage of 4,899, and a median sales price of $5,005,000. Similarly, in Santa Cruz, a median square footage of 4,780, and a median sales price of $3,150,000.

For more details on market conditions in Santa Clara, Santa Cruz, and San Mateo counties, click on the images below.

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