Andrew Hartland's Blog

HIGHLIGHTS for September 2009

- Home sales increased, year-over-year, by 10.7% in September.

- Year-to-date, home sales are up 20.6%.

- Inventory continued to decline in September: down 62.6% compared to September 2008.

- Pending sales were up 95.7% year-over-year.

Sales of single-family, re-sale homes rose 6.7% last month compared to August. Year-over-year, sales were up 10.7%. Year-to-date, home sales are up 20.6%.

The median price for homes rose 1.4% month-over-month, but was off 4.6% compared to last September.

Condo sales were also up last month, rising 9.4% from August, and up 25% year-over-year. Year-to-date, condo sales are up 18%.

The median price for condos rose 2.0% from the month before, but was down 6.1% year-over-year.

Inventory continues to decline with the supply of homes down 9.6% from August, and off 62.6% year-over-year. Condo inventory dropped 7.4%, off 63% compared to last September.

The sales price to list price ratio rose 0.5 of a point to 101.2% for homes. The ratio for condos also gained 0.5 of a point to 101.2%.

Days on market fell three days to 52 for homes. Days on market for condos dropped three days to 55 days.

Our days of inventory indicator for single-family homes continued downward on the increase in sales, shedding twelve days, sending the indicator to 62 days. The indicator for condos fell eleven days to 61.

Pending sales, an indicator of what’s going to happen in the next month or two, fell 3.6% from August, but were up 95.7% year-over-year.

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

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.

- 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.

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.