Once in awhile I hear talk of the market cooling just slightly, in certain segments of the valley. Certainly some buyers have had enough and have gone back to waiting. “See you in six months”, said one of my clients after getting disgusted at the black Friday like crowds at one Sunnyvale open house.
The numbers do not seem to bear out any calming of the market, though. Perhaps it’s all that hiring going on in Silicon Valley!
Just now I logged in to the MLS and ran some of the charts via the stats section. I found it interesting – “up, up and away” continues to be the pricing story here. Have a look. All stats are for single family residential (aka houses and duet homes or attached houses) in Santa Clara County only. What is most striking to me is how HIGH these prices are for the median & average list and sale prices. Staggering, really.
Median list price of houses & duets for sale in Santa Clara County. (Median means half listed for more and half for less than this amount.)
The average list price of single family homes in Santa Clara County. (How can they be so high?)
Next, the average sale price – a little less but still over a million dollars! I’m a little shocked by this. For my readers who are Realtors, this is found under “Sale prices over time (COE)”.
Time frame is from Jan 2013 to May 2013
And now the median sale price of homes in Santa Clara County – quite a bit more down to earth!
List price to sale price ratio & average days to sell. There’s a tad of cooling – from over 106% of list price to more than 104% but still outrageously hard for buyers. And properties are flying off the market too.
Many years, the best months to sell are February – April, but it seems to still be a good time to sell overall.