- Home sales increased, year-over-year, by 6.2% in August. Year-to-date, home sales are up 22.3%.

- Inventory continued to decline in August: down 59.3% compared to August 2008.

- Pending sales were up 90.7% year-over-year.

Inventory of single-family, re-sale homes continued falling in August, and it is now down 59.3% year-over-year.

Pending sales, meanwhile, climbed 52.2% from July, and were up 90.7% compared to August 2008.

After rising four months in a row, the median price for homes took a breather last month and was down 6.4% from July, a year-over-year decline of 14.3%. The average price dipped 3.1%, month-over-month. Year-over-year, the average price was off 17%.

Home sales increased, year-over-year, by 6.2% in August. This is the fourteenth month in a row homes sales have been up compared to the year before. Year-to-date, home sales are up 22.3%.

The sales price to list price ratio for homes rose 0.5 of a point to 100.7%. This is the second month in a row the ratio has been over 100%.

Days of inventory rose seven to 74 days for homes. It was up five for condos to 72 days.

Condo sales fell 10.4% from July, but were up 6.5% year-over-year.

The median price for condos fell 1.2% from July, and it was off 20.5% compared to last August. The average price rose 3.4%, month-over-month, but was down 15.5% compared to August 2008.

Condo inventory was down 60.4% year-over-year, while pending sales were up 128.9%.

The sales price to list price ratio for condos rose 0.8 of a point to 100.7%.

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

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