Prices Continue Double-digit Gains

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Property prices rose in February by double-digits: 34.5%. This is the fifth month in a row the median price has been higher than the year before by more than 20%.

We could be approaching irrational exuberance territory.

The median price for single-family, re-sale homes is up 53% from the bottom of the market, which was reached in March 2009.

We are still 21% below the peak which occurred in June 2007.

To read the full report: http://hartland.rereport.com/

 

Santa Clara County Price Differences

from January 2012 & Peak & Trough

Homes: detached

YTD

Peak %

Trough %

Peak

Trough

3-month

31%

-21%

53%

Jun-07

Mar-09

12-month

19%

-20%

31%

Nov-07

Nov-09

Homes: attached

3-month

43%

-25%

49%

Jun-07

Apr-09

12-month

28%

-27%

29%

Dec-07

Dec-11

 

Trends at a Glance

(Single-family Homes)

 

Feb 13

Jan 13

Feb 12

Median Price:

$   713,000

 $   660,000

 $   530,000

Average Price:

$   912,347

 $   825,759

 $   725,201

Home Sales:

585

546

744

Pending Sales:

1,236

1,068

1,860

Inventory:

786

651

2,108

Sale/List Price Ratio:

103.8%

102.0%

99.1%

Days on Market:

36

40

61

Days of Inventory:

36

36

79

The Real Estate Report provides an automatic, easy to use, property analysis feature, a mini-CMA. You can access it in the Property Analysis tab. Input your address and get a list of properties around yours that have recently sold or are currently listed for sale, all on an easy to read map. http://hartland.rereport.com/ to see an example.

 

The Santa Clara County Real Estate Market Trends Report provideslocal market data on-line and in print.

Our on-line report provides an interactive experience where you can look at market trends down to the neighborhood level.

 

The four-page, condensed printable version of the report provides a brief summary of the local market and has county foreclosure stats. You can access it here:http://rereport.com/scc/print/AndrewHartlandSCC.pdf

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