Santa Clara, CA housing market

The story in Santa Clara this June is a plateau. The typical home value sits at about one million six hundred eight thousand dollars, but that is up only about a tenth of a percent over the past year. In a market like this one, that is basically flat. What is holding values steady is a tight supply. There are only about 125 homes for sale right now, and just 74 new listings came on. With that little to choose from, buyers do not have much leverage, and that keeps a floor under prices. Homes are moving at a steady clip too, with a median of thirty days on the market. Only about 14 percent of listings have cut their price, so most sellers are getting close to what they ask. The median list price is around one million four hundred nineteen thousand dollars. If you are thinking of selling here, price it right and it should move. Just do not count on the fast appreciation of years past. This is a steady market, not a surging one.