Silverado Real Estate Market Summary – November 2024

Market Trends

1. Single-Family Homes:

   • The demand for single-family homes remained strong, with a moderate price appreciation driven by limited inventory and steady buyer interest.

   • Average home prices saw a year-over-year increase, reflecting Silverado’s desirability among families and long-term residents.

   • Newer developments and modern renovations contributed to higher listing prices, especially for 3–5-bedroom homes with upgraded amenities.

2. Townhomes:

   • The townhome segment experienced stable growth, making it a preferred choice for first-time buyers and downsizers.

   • Competitive pricing and low-maintenance living attracted more interest, keeping townhome sales consistent throughout the month.

   • Increased investor activity also influenced this market, as townhomes continue to be high-demand rental properties.

3. Condos & Apartments:

   • The condo market remained affordable and steady, appealing to young professionals and investors.

   • Rental rates continued to rise, making condo ownership an attractive investment opportunity.

   • New construction projects and updated amenities in older complexes helped maintain buyer interest.

4. Luxury & Estate Homes:

   • The luxury segment saw a slight slowdown in transactions, mainly due to higher interest rates.

   • Buyers in this category were more selective, prioritizing custom features, larger lot sizes, and premium locations.

   • Despite fewer sales, luxury home prices remained stable due to the limited availability of high-end properties in Silverado.

Community Features & Lifestyle

• Parks & Green Spaces: Silverado continues to offer beautiful parks, walking trails, and open green spaces, making it a family-friendly community.

• Proximity to Amenities: Convenient access to shopping centers, restaurants, and schools adds to the neighborhood’s appeal.

• Transportation & Connectivity: With easy access to major highways and public transit, Silverado remains well-connected to other parts of the city.

• Community Events: Local activities and events foster a tight-knit and welcoming atmosphere, making it an attractive place to live.

Overall, Silverado’s real estate market in November 2024 remained resilient, with stable growth across most property types. While higher interest rates impacted the luxury segment, demand for single-family homes, townhomes, and condos remained strong, making Silverado a desirable community for both homeowners and investors.