Quarter One 2022 Residential Report
Residential Real Estate in Santa Clara County
Download a complimentary copy of this report: Q1 2022 Residential Report for Santa Clara County
Reports for a specific zip code or city are available now. Send me an email at JKlotz@intero.com or call/text 408-504-2484 to request your complimentary copy.
In this report I compare first quarter year-over-year statistics and year-to-date results for residential real estate in Santa Clara County. This report covers a broad area and your city data will vary from these statistics. Send me a request for your localized report based on city or zip code.
→ Monthly City Reports Available: https://www.klotzhomes.com/silicon-valley-market-stats
Q1 2022 vs. Q1 2021 (Single-Family Homes)
Single-Family: Median sales price for Q1 2022 is $1,850,000 an increase of ↑ 23.33% compared to Q1 2021
Condo/Townhome: Median Sales prices for Q1 2022 is $960,000 an increase of ↑ 12.81% compared to Q1 2021
Single-Family: Average sales price for Q1 2022 is $2,194,814 an increase of ↑ 21.52% compared to Q1 2021
Condo/Townhome: Average sales price for Q1 2022 is $1,051,793 an increase of ↑ 12.62% compared to Q1 2021
|Single-Family Home (Q1 2022)||Condo/Townhome (Q1 2022)|
Home inventory remains low in the first quarter of 2022, while homes are selling faster and for more money compared to the previous year. Less inventory means higher demand. While interest rates are rising, home buyers are feeling pressure to purchase a home now. Many home buyers are now looking to off-market listings so they do not have to compete with other buyers. Looking for off-market opportunities? Contact me at 408-504-2484
Sellers. My team and I net you more money for the sale of your home. Reach out for your complimentary consultation.
Buyers. Don’t let this competitive market bring you down. Proper representation is key to your success as a home buyer in this market. I stay current with the marketplace, keep my clients informed and assist them before, during and after they purchase their new home. Reach out to me to discover the difference I can make for you in this competitive real estate market.
Investors. I am current with off-market opportunities around Santa Clara County and San Mateo County. I’m happy to present these opportunities to my investor clients. Reach out to me for me information.
Real Estate Voted as Better Investment Than Stocks, Gold and Savings for 8th Consecutive Year
Nationally, real estate tops the list as the best long-term investment for the eighth year straight. (Source: Gallup) Real estate continues to gain traction as the best long-term investment in the country, check out the graph below.
If you’re thinking about purchasing a home this year, this poll should reassure you. Even when inflation is rising like it is today, combined with rising mortgage rates, real estate sales prices continue to climb. Homeowner’s are building incredible amounts of equity as home prices appreciate.
Why Is Real Estate a Great Investment During Times of High Inflation?
With inflation reaching its highest level in 40 years, it’s more important than ever to understand the financial benefits of homeownership. Rising inflation means prices are increasing across the board. That includes goods, services, housing costs, and more. But when you purchase your home, you lock in your monthly housing payments, effectively shielding yourself from increasing housing payments. James Royal, Senior Wealth Management Reporter at Bankrate, explains it like this:
“A fixed-rate mortgage allows you to maintain the biggest portion of housing expenses at the same payment. Sure, property taxes will rise and other expenses may creep up, but your monthly housing payment remains the same.”
– James Royal, Senior Wealth Management Reporter at Bankrate (Source)
If you’re a renter, you don’t have that same benefit. You aren’t protected from increases in your housing costs, especially rising rents.
History Shows During Inflationary Periods, Home Prices Rise
As a homeowner, your house is an asset that typically increases in value over time, even during inflation. That‘s because, as prices rise, the value of your home does, too. And that makes buying a home a great hedge during periods of high inflation.
“Tangible assets like real estate get more valuable over time, which makes buying a home a good way to spend your money during inflationary times.”
– Natalie Campisi, Advisor Staff for Forbes (Source)
In conclusion, housing truly is a strong investment, especially when inflation is high. When you lock in a mortgage payment, you’re shielded from housing cost increases, and you own an asset that typically gains value with time. If you want to better understand how buying a home could be a great investment for you, let’s connect today.