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Would you live here and like the view waking up and going to bed daily?

A look at Santa Clara Valley from 1900 through today, hope you enjoy.

Prepared by Elliot Eisenberg, PhD., MLSListings Partner Economist As we move through this K-shaped economic recovery, we will see some sectors rebound much more quickly than others. We have already seen how the Silicon Valley, with its focus on tech and professional services saw very little in the way of employment losses, although restaurants and small businesses have suffered significantly. As a result, the rental market is likely to see moderate impact over the next six-...to-twelve months as eviction rates climb but will likely recover by late 2021; the single-family residential market is likely to experience very little negative effect. The biggest challenge in the Silicon Valley is the ongoing lack of available inventory. The lack of inventory pre-covid has been exacerbated during the pandemic, as potential sellers hold off listing their home because they don’t want strangers in their home and they themselves don’t want to traipse out and view other houses. Real estate professionals have already pivoted to using technology to address that concern by offering virtual showings and open houses, and buyers and sellers are still likely to want to take advantage of that convenience. As the vaccine begins to turn the battle against covid, I hope we see a rise in inventory that marks another sign on the road to normalcy. If, however, we see inventory levels rise without a concomitant rise in sales, then that could be reflective of out-migration. We will also need to see if Prop 19 has the intended effect of creating some turnover in the housing market and thus encouraging the more efficient allocation of residential real estate. All-in-all, notwithstanding the overhyped fears of mass out-migration, the Silicon Valley market shows no reason for concern. See more

Santa Clara County In Santa Clara County, single-family home median prices of $1.4 million tied last quarter’s all-time median high, confirming that this remains a very strong market, and 2020 prices were above comparable prices in 2019 throughout the year. Dr. Eisenberg says, Home prices in Santa Clara County continue to appreciate at levels just slightly above the national trend.... Single-family home sales have recovered nicely from a weak Q1 and a disastrous Q2, and in an interesting twist, Q4 was the strongest quarter of the year in terms of sales. Dr. Eisenberg notes that you saw nearly one third of your total 2020 sales in Q4 when normally that would be your slowest quarter of the year. It appears that, for now at least, seasonality disappeared due to covid. For all of 2020, sales are just barely over 2019 levels, but the number of pending sales at year-end is double what was in the queue at the end of 2019. See more