Silicon Valley Real Estate Market March 2023

Silicon Valley Real Estate Market April 2023

Interest rates are stabilizing and more buyers coming back to the market. Inventory is extremely low, pushed up number of offers. Prices are lower than same time last year, most areas are down by 10% to 20%. Sellers can definitely feel the difference. Buyers, on the other hand, due to higher rates, the payments are also higher.
Townhome and condo market are still softer compared to single family homes. If a buyer can qualify for a loan, there are more opportunities to get into the market than the last couple of years. 

The first time home buyer down payment assist program came and went quickly when the funding got used up. A few transactions fell through because of it. When the buyers got into contract, realized the program is no longer available for them, had to back out of the contract.

Below are median sale price for the two counties since 2020. Also stats for the last 13 months.



Santa Clara County
last 13 months

San Mateo County
last 13 month


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Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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