Real Estate Report July 2009

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– Home sales increased, year-over-year, by 25% in July. Year-to-date, home sales are up 25.3%.

– The median price for single-family, re-sale homes was up for the fourth month in a row.

– Days of Inventory now stands at 67 days.

The median price for single-family, re-sale homes rose 8.1% in July compared to June, and it is now at its highest level since last September. Year-over-year, the median price was off 15.6% The average price gained 4.1%, month-over-month. It has risen eight months in a row. Year-over-year, the average price was off 18%.

Home sales increased, year-over-year, by 25% in July. This is the thirteenth month in a row homes sales have been up compared to the year before. Year-to-date, home sales are up 25.3%.

Inventory continued falling in July, and it is now off 57.8% year-over-year.

Pending sales, which is a leading indicator, was up 30.2% compared to last July.

The sales price to list price ratio for homes rose 0.8 of a point to 100.2%. This is the first time the ratio has been over 100% since July 2007.

Days of inventory dropped two to 67 days for homes. It was down eight for condos to 67 days.

Condo sales rose 3.1% from June, and were up 16.9% year-over-year.

The median price for condos fell 4.4% from June, and it was off 29.3% compared to last July. The average price fell 3.5%, month-over-month, and was down 26.2% compared to July 2008.

Condo inventory was down 59.1% year-over-year, while pending sales were up 42.9%.

The sales price to list price ratio for condos rose 1.1 points to 99.9%.

Go to my on-line site SCVReport.com for the full report, plus a city-by-city breakdown.

If you would like to search for properties in the Santa Clara Valley, go to my online search form at: MLS Search

If you find the Santa Clara Valley Real Estate Report useful and know someone else who might, please feel free to forward this e-mail to them. There is also a four page printable version with more articles here:
Printable Report.

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One Response to “Real Estate Report July 2009”

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