Andrew Hartland's Blog

- The median price for single-family, re-sale homes went over the $600,000 mark for the first time since August 2008.

- Inventory continued to decline in November: down 66.7% compared to November 2008.

- Pending sales were up 90.4% year-over-year.

The median price for single-family, re-sale homes went over the $600,000 mark in November for the first time since August 2008. It was also up, year-over-year, for the second month in a row.

The median price rose 2.1% month-over-month, and was up 20.3% compared to last November.

Sales of single-family, re-sale homes declined 12.6% last month compared to October. Year-over-year, sales were up 35.6%. November was the seventeenth month in a row that sales were higher than the year before. Year-to-date, home sales are up 21.5%.

Condo sales were down last month, dropping 24.5% from October, but were up 49.5% year-over-year. Year-to-date, condo sales are up 22.4%.

The median price for condos rose 1.4% from the month before, and was up 14% year-over-year.

Inventory continues to decline with the supply of homes down 13.2% from October, and off 66.7% year-over-year. Condo inventory dropped 6.5%, off 66.5% compared to last November.

The sales price to list price ratio for homes stayed over 100% for the fifth month in a row: 100.7%.

Our days of inventory indicator for single-family homes was flat at 60 days. The indicator for condos rose twelve days to 62.

Pending sales, an indicator of what’s going to happen in the next month or two, fell 6% from October, but were up 90.4% year-over-year.

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.

- The median price for single-family, re-sale homes was up, year-over-year, for the first time since January 2008.

- Inventory continued to decline in October: down 64.4% compared to October 2008.

- Pending sales were up 113.4% year-over-year.

The median price for single-family, re-sale homes rose 5.3% month-over-month, and was up 9.6% compared to last October. This is the first time since January 2008 the median price has been higher than the year before.

Sales of single-family, re-sale homes declined 3.7% last month compared to September. Year-over-year, sales were up 17.4%. October was the sixteenth month in a row that sales were higher than the year before. Year-to-date, home sales are up 20.2%.

Condo sales were up last month, rising 10% from September, and up 36.1% year-over-year. Year-to-date, condo sales are up 20.0%.

The median price for condos rose 3.9% from the month before, but was down 6.7% year-over-year.

Inventory continues to decline with the supply of homes down 7.2% from September, and off 64.4% year-over-year. Condo inventory dropped 9.2%, off 65.9% compared to last October.

The sales price to list price ratio for homes stayed over 100% for the fourth month in a row.

Our days of inventory indicator for single-family homes shed two days, sending the indicator to 60 days. The indicator for condos fell eleven days to 50.

Pending sales, an indicator of what’s going to happen in the next month or two, rose 3% from September, and were up 113.4% year-over-year.

The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home’s worth, call me.

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.

HIGHLIGHTS for August 2009

- 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

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.

HIGHLIGHTS for April 2009

- Home sales increased, year-over-year, by 33.1% in April. Year-to-date, home sales are up 33.4%.

- The median price for single-family, re-sale homes gained 4.4% from March, down 37.3% year-over-year.

The median price for single-family, re-sale homes rose 4.4% in April from March. Year-over-year, the median price was off 37.3% The average price gained 0.6%, month-over-month, but was down 38.3% compared to April 2008.

Home sales increased, year-over-year, by 33.1% in April. This is the tenth month in a row homes sales have been up compared to the year before. Year-to-date, home sales are up 33.4%.

Sales continue to be concentrated in the lower-priced cities such as San Jose where year-over-year sales were up 76.8%, and Gilroy where sales were up 93.3%.

Inventory continues to be lower than the year before: down 35.6%.

The sales price to list price ratio for homes rose 0.1 of a point to 98.4%. Days of inventory dropped 46 to 117 days for homes.

Condo sales rose 4.8% from March, and were up 11.5% year-over-year. The median price for condos rose 17.2% from March, and it was off 42.9% compared to last April. The average price gained 7.4%, month-over-month, but was down 36.9% compared to April 2008.

Condo inventory was down 33.3% year-over-year. The sales price to list price ratio for condos dropped 0.3 of a point to 97.1p%.

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.