Summer Silicon Valley Slowdown?

Summer Silicon Valley Slowdown? - July 2019 from Talis Team Real Estate on Vimeo.

The Silicon Valley market is definitely slowing down for the summer. From May to June there was a 15 percent drop in the number of sales and 23 percent drop in the number of new listings. Home prices, however, are holding firm – the median home sale price for June is only $1000 below the May median.

There are two factors affecting this slowdown. The first one is the time of year.  It is typical for real estate activity to slow down during the vacation season. Another factor is the demographic change. If you go 10-15 years back, American families moved as often as every five years. The latest studies show that, on average, people now move every 11.5 years.

More people choose to age in place or remodel their homes instead of buying ready to move in properties. This trend is even more pronounced here in the Bay Area

Your situation is unique. You may be trying to decide between buying or renting, remodeling or finding a new home, or figuring out if it is worth investing in real estate. Let’s brainstorm the best solution to your housing problem.

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Best Regards,

Elena & Michael Talis

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