Santa Clara County Home Sales Up Fourth Month in a Row

Tue, 30 Nov 1999 07:00:00 +0000

Sales of single-family, re-sale homes in Santa Clara County were up 44.7% in October compared to last year. Month-over-month, sales fell 8%. Sales continue to be concentrated in the lower-priced cities such as San Jose where year-over-year sales were up 99.6%, and Gilroy where sales were up 372.7%.

Home prices continue to be affected by the bank-owned property that has flooded the market.

The median price continued to slide, down 7.8% from September, and off 35.8% year-over-year.

Inventory continues to decline, falling 8.1% from September, and down 12.1% compared to October 2007.

Condo sales tumbled 10.7% from September, and were down 19% year-over-year.

The median price for condos, on the other hand, rose 5.3% month-over-month, but was off 28% compared to last October.

If you are in escrow with one of the new higher-limit, conforming loans, or you expect to buy a home before the end of the year, remember, the new, higher conforming loan limit of $729,750 expires at the end of the year. You must have your loan funded by then. Starting January 1st, the conforming loan limit will be $625,000.

You can read the full on-line report here: http://hartland.rereport.com/.

There is also an 4 page printable version with more articles here:

http://rereport.com/scc/print/AndrewHartlandSCC.pdf.

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The Santa Clara County Real Estate Report is brought to you by:

Andrew Hartland

Realty World Homes & Estates

2130 The Alameda, Suite 200

San Jose, CA 95126

(408) 206-0122

http://www.SCVHome.com

mailto:Andrew@HartlandTeam.com

Andrew Hartland's Blog » 2008 » November

Santa Clara County Home Sales Up Fourth Month in a Row