New Condos Selling In A Matter Of Weeks
In Silicon Valley
Silicon Valley condo pricing has increased in the double digits and time on the market is at an all-time low of about two weeks. There is an ongoing shortage of new condos in the region following years of apartment development, and some developers are starting to shift toward condo projects.
In Silicon Valley, condo prices increased 19.8% year over year to $810K from December to February, according to a report from Polaris Pacific. San Jose posted the highest increase in the region at 26%.
There are 1,098 new condos under construction…
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