The State median price has seen an improving situation: Following a 59 percent peak-to-trough decline, California’s median price surpassed the $300,000 threshold in November, an increase of 2.4 percent in month-to-month comparisons, and the first year-to-year increase since August 2007.
Sales also are in healthy territory: Home sales in California returned to pre-peak levels in late 2008, and sustained them throughout 2009.
The most exciting part of all this is news from our Santa Clara County statistics, released this week....The average days on market are way down, and sellers of both single family homes and condos are now receiving an average 0f 99.5 percent of their asking prices!
4 comments:
Good to know that they are getting offers at their asking prices, but are they asking for a lot lower than before?
Prices in the west side of the valley are not generally as high as the were at the peak, especially in condos, which had declined about 15% from their highest value. But with the lack of inventory, and the multiple offers we've been seeing, I expect that to change in the near future. South and East San Jose still have a way to go, because there were more foreclosures and more of a price dip in that section.
Thanks....what about Sunnyvale 94087...
When I refer to West Side properties, that includes most of Sunnyvale, Cupertino and Los Altos...also Mountain View and Santa Clara. The 94087 area has been especially affected by low inventory and multiple offers.
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