June Market Flash

Summer days are just around the corner and as the weather warms up, so does the Northern California real estate market…in certain ways at least. While sales have slowed in comparison to last year, median prices continue to rise – making home investments even more valuable – and most areas are enjoying an abundant supply of available homes for sale.
As I've said before, one aspect of the market that is certainly heating up is the million-dollar plus home category where sales are swift.
April median price, at $843,710, is improved by 7.4% for the month and over 9% from April 2006; sales are down by almost 8% for the month and 19% compared to a year earlier. The Santa Clara County median price of $868,410 is up 4.6% for the month and a strong 12.1% for the year; sales are down by a hair for the month and 17% from April 2006.
Coldwell Banker, in its "Market Flash" for June, says that "This is not one market; it is a whole bunch of tiny local markets, each with its own characteristics."