Are home prices dropping in Santa Clara County?
In August 2022, Santa Clara home prices were up 7.7% compared to last year, selling for a median price of $1.5M. On average, homes in Santa Clara sell after 20 days on the market compared to 12 days last year.
Will CA Housing prices drop in 2022?
California Housing Forecast
C.A.R.’s “2022 California Housing Market Forecast” predicted a 5.2% decline in existing single-family home sales to 416,800 units, down from the projected 2021 sales estimate of 439,800 units. Their forecast for California median home prices was for a rise of 5.2% to $834,400 in 2022.
What is the hottest real estate area in the Bay Area?
Generally, buying a home in the cities of San Francisco or San Jose is more expensive than in the nearby Bay Area suburbs. Three Tri-Valley ZIP codes in San Ramon and Danville and a ZIP code in Union City all saw significant year-over-year home value growth, each rising just over 24% from June 2021 to June 2022.