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 June 2009

- Home sales increased, year-over-year, by 21.5% in June. Year-to-date, home sales are up 25.4%.

- The median price for single-family, re-sale homes jumped back over $500,000 for the first time since last December.

- Days of Inventory now stands at 69.

Home sales increased, year-over-year, by 21.5% in June. This is the twelfth month in a row homes sales have been up compared to the year before. The 1,192 homes sold were the most since June 2006 when 1,192 homes were sold also. Year-to-date, home sales are up 25.4%.

The median price for single-family, re-sale homes jumped back over $500,000 for the first time since last December, gaining 12.1% in June from May. Year-over-year, the median price was off 24.5% The average price gained 6.5%, month-over-month, but was off 24.1% compared to June 2008.

Inventory dropped to its lowest level since January 2007. It was down 56% year-over-year.

Pending sales, which is a leading indicator, was up 32.2% compared to last June.

The sales price to list price ratio for homes rose 0.5 of a point to 99.4%.

Days of inventory dropped 24 to 69 days for homes.

Condo sales rose 13.4% from May, and were up 33.3% year-over-year.

The median price for condos rose 12.7% from May, but it was off 23.2% compared to last June. The average price gained 7.4%, month-over-month, but was down 26.2% compared to June 2008.

Condo inventory was down 55.7% year-over-year, while pending sales were up 28.2%.

The sales price to list price ratio for condos rose 1.2 points to 98.8%.

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.

Sincerely,

Andrew Hartland

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.

Santa Clara Valley Real Estate Report

HIGHLIGHTS for December 2008

- Resale homes were down 1.2% for the year.

- Considerable momentum in the second half of the year.

- Prices showed some improvement in December. The median price was down a paltry 0.2% from November.

- Average price rose for the first time in fifteen months, gaining 3.6% month-over-month.

Although sales of single-family, re-sale homes were down 1.2% for the year, there was a lot of momentum in the second half of the year. Home sales increased, year-over-year, in the last six months of 2008. Momentum that should carry over into 2009. Prices took a hit last year but should start bottoming out in the first half of this year.

For the month of December, sales of single-family, re-sale homes in Santa Clara County were up 38.8% compared to last year. Month-over-month, sales were up 6.8%. Sales continue to be concentrated in the lower-priced cities such as San Jose where year-over-year sales were up 80.6%, and Gilroy where sales were up 186.7%. It’s interesting to note that sales in Palo Alto, a very high priced area, were up 100%.

Prices actually showed some improvement in December. The median price was down a paltry 0.2% from November, and off 36.3% year-over-year. The average price actually rose for the first time in fifteen months, gaining 3.6% month-over-month, down 34% compared to last December.

Inventory crept upward last month, rising 1.9% from November, and up 11.5% compared to December 2007. The sales price to list price ratio rose 0.1 of a point to 98.9%.

Condo sales rose for the second month in a row, gaining 9.5% from November, and, surprisingly, were up 1% year-over-year.

The median price for condos was flat month-over-month, but was off 38% compared to last December.

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.

Sincerely,

Andrew Hartland
Broker/Owner

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