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Whenever we’re asked, “How’s the market?” we feel like it’s such a loaded question. We can segment the market in a myriad of different ways – by price point, geographic location, property type, school districts, home size, etc. So it really depends on what micro-market people are asking about when they pose this question, and if they’re asking from the perspective of a potential buyer or seller.
In our market update videos, we’ve always segmented the market by providing stats for single-family homes and condos/townhomes in Santa Clara and San Mateo Counties. And we advise our audience on whether they should be buying or selling, based on what the market is doing.
During Q2 this year, we started to see a shift in the condo/townhouse market with days on market increasing and prices starting to drop compared to Q2 2024. However, in the single-family home segment, we saw prices increase compared to this same time last year.
The market is complex and ever-changing, which is why it’s important to note that all the data in this video is already historic. Now that we are already 1/3 of the way through Q3, we’ve been experiencing a substantial summer slowdown. Homes are taking longer to sell, and we are seeing more price drops than in recent years, which is abnormal for our typical hyper-competitive market.
That being said, it’s an optimal time for buyers who are looking to make a move. With loads of inventory for sale and not much competition, it’s more of a buyer’s market than it has been in the past 10 years.
If you’re looking to take advantage of these unique market conditions, or you want more market stats specific to your situation, contact us today to start the conversation! And if you’re thinking about selling, let’s start strategizing for Q1 of 2026. Either way, our contact info is below, along with a link to our Q2 market update video
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Selena Young | Realtor
DRE# 02073411
Coldwell Banker Realty
