The continued strong price growth in the 3rd quarter of 2017 suggests that there won’t be much of a price dip in the 4th quarter. San Mateo County shows the weak 1st quarter 2017 experienced by many areas including some cities in Santa Clara County. Uncertainty about the affects of the U.S. election seemed to lead many buyers to postpone making decisions. Confidence seems to have returned leading to steady strong price growth for most areas.
At the beginning of 2017 it seemed like housing demand might slow down, but it turned out the seasonal build-up mostly started a little later. Looking at the latest sales price vs. list price trends shows somewhat higher than normal 3rd quarter housing demand. As more 3rd quarter escrows close, the plotted levels may change.