November 2021 Silicon Valley Market Update

by Sophie Tsang 11/24/2021

 

 

Silicon Valley Real Estate Market November 2021

 

Peace & Love to you and your loved ones during the holidays!

 

Real Estate market is noticeably slower than before the summer. We are back to a seasonal market that fewer and fewer listings come on the market this time of the year, till Spring 2022. Interest rates are slightly higher, and is forecasted to rise half a point next year and go up from there into 2023.

 

The rental market is becoming more stable. Lower rent units are taking longer to rent out due to the renter pool may be the ones struggling the most since Covid.

 

Increasing inflation: (source, Dr. Elliot Eisenberg)

As measured by the CPI, October inflation rose 6.2% Y-o-Y, the fastest pace since 1990 and the fifth month in a row above 5%. Similarly, core-inflation rose 4.6% Y-o-Y, its largest move since 1991. Inflation is rising rapidly because demand has fully recovered while supply hasn’t, causing supply-chains to break down. With Christmas shopping upon us and solid employment growth feeding demand, inflation probably gets worse before it gets better.

 

 

Real Estate market is also a story of limited supply and bountiful demand. Inventory was much higher same time last year, while sales are higher this year. Looking forward to 2022, there is little reason to believe prices will go down. With interest rate increasing, it may soften the lower end market with most purchases heavily financed. 

 

 

 

 

If there is anything real estate I can be a resource or assistance, please contact me.

 

The following are stats for the last 13 months:

 

Santa Clara County:

 

 

San Mateo County:

 

About the Author
Author

Sophie Tsang

Sophie’s Civil Engineering background and marketing expertise contribute to her broad understanding and high efficiency in marketing real estate properties. She has been consistently a top performer since 2005, and personally ranks the highest 1% by volume of all Silicon Valley Realtors. 

As a seasoned negotiator, Sophie’s no-nonsense marketing system and meticulous attention to details have been key success factors. She is known as the The Fixer, frequently helps sellers sell their homes when other agents had failed or given up. She helps buyers get into homes when they previously struggled. 18 years in Real Estate, Sophie has honed her skills on getting the best possible results for her clients. Her trusted network of vendors and use of cutting-edge technology ensure each step of each transaction is executed to achieve next level result!

Sophie has done guest speaking at Faith Radio, and writes a column for World Journal to share her Real Estate Knowledge. She is a proud parent of 2 Eagle Scouts, a Palo Alto Rotarian and a Paul Harris Fellow, also a Golden Gate Keeper (Golden Gate National Park Conservancy).