According to Joe Brown, our area manager for Coldwell Banker, we are part of an area where jobs are very strong and the ability to buy a house is high. The housing affordability index is now at 25% for California (up from 14% not so long ago). This is greatly due to prices decreasing in outlying, less desirable areas of the state. A pattern in the attached report on Single Family Homes is days on market decreasing. Look for the number of days on market to decrease even further!
2007 Santa Clara County
January/ February
Current Inventory 2648/ 2904
# of sales 611/ 661
% LP Rec'd 98.34%/ 99.84%
Median Price $740,000/ $790,000
Avg. Price $852,098/ $971,443
Tot $ Vol $581,731,859/ $642,124,015
DOM 71/ 71
New Listings 1,355/ 1369
March/ April
Current Inventory 3345/ 3924
# of Sales 890/ 891
% LP Rec'd 99.73%/ 100.36%
Median Price $830,000/ $869,000
Avg. Price $1,065,798/ $1,097,127
Tot $ Vol $948,560,615/ $977,540,840
DOM 57/ 35
New Listings 1,888/ 1,930
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