The action of reduced pending sales is adding greatly to the supply (the number of listings). Part of that may be a result of the tax credit expiring at the end of April.
There are currently 142 active listings in Blossom Valley ranging in price from $299,000-$995,000. The current median list price is $549,900. The active listings went up 26% in just 18 days. This is a huge jump.
There were 61 pending sales in the last 30 days. List price range for pending sales is $325,000-$699,500. The number of pending have dropped dramatically from last year and last month.
The closed sales thus far in June have been 50.
The condo/townhome market has 94 active listings. There are 72 pending sales in the last 30 days and 42 closed sales in June (as of 6/18).
As of June 18th, in the Santa Clara County the inventory for active listings of single family homes was 2841 and condo/townhomes is 1192. Totaling 4033 for both. This figure has increased 7% since 5/31.
The number of homes and townhome/condos that went into contract over the last 30 days was 1869 (single family – 1400, condo/townhome – 469). This figure has remained up over last month which is good.
The number of closed sales in May was 1619. So far in June it is 767 (as of 6/18).
For statistics for other Silicon Valley locations – http://realtytimes.com/rtmcrmember/patdulleck