• Fewer home sales in 2023 compared to 2022. Annual US home price growth to decline only modestly or stay the same as 2022
• Inventory to stay at current levels or increase somewhat over 2022
• Interest rates to be lowered to between 5% and 6% from 7%
• Sellers are weighing the options of renting their homes until the market improves to sell it
Urban living, condos, and shared amenities will all be more popular in 2023
• As affordability challenges continue, the pandemic fades, cities regain their luster and more companies begin to require employees to return to the office more regularly, condos will experience a resurgence in popularity in 2023.
• Urban living would grow in popularity.
• Community amenities – community centers, pools, tennis/pickleball courts, etc. – would grow in popularity was more than triple the number that said those amenities would fade in popularity.
• Large yards would fade in popularity
SAN MATEO COUNTY
SOLD HOMES ↓22% YOY
AVERAGE DAYS ON MARKET ↑32% YOY
MEDIAN SALES PRICE ↑1% YOY
PRICE PER SQUARE FOOT ↓2% YOY
SAN MATEO COUNTY
SOLD HOMES ↓14% YOY
AVERAGE DAYS ON MARKET ↑1% YOY
MEDIAN SALES PRICE ↑1% YOY
PRICE PER SQUARE FOOT ↓3% YOY
SANTA CLARA COUNTY
SOLD HOMES ↓23% YOY
AVERAGE DAYS ON MARKET ↑11% YOY
MEDIAN SALES PRICE ↓2% YOY
PRICE PER SQUARE FOOT ↑2% YOY
SANTA CLARA COUNTY
SOLD HOMES ↓8% YOY
AVERAGE DAYS ON MARKET ↓24% YOY
MEDIAN SALES PRICE ↑3% YOY
PRICE PER SQUARE FOOT ↑6% YOY
She is personally committed to her clients’ success and her impressive results are in selling her listings within 10 days with multiple offers! Contact Lynn for a free consultation on your home.