Blossom Valley has turned things around. There are currently 44% fewer
listings of single family homes than last year. Now there are just 80 active listings in Blossom Valley ranging in price from $265,000-$2,350,000.
The current median list price is $499,000. Last year there were 144 active listings with a median price of $469,000. So median price has gone up which is good!
There were 35 pending sales in the last 30 days. I like to track new pending sales verses looking at all sales that are pending. Tracking new sales gives you a rapid indicator of how the market is doing. Plus due to the amount of short sales on the market if you were to track all pending sales you would not be getting a true representation of the current scene. The list price range for pending sales is $150,000-$729,000.
There were 49 closed sales in January. Closed sales are up about 10% over last year at this time.
The condo/townhome market has 33 active listings. At the end of Jaunary 2011 there were 120 active listings. So the number of listings is currently down 72%. Yes, that right – 72%! There are currently 55 pending sales in the last 30 days. The closed sales of 25 in January are only off 10% from last year.
As of January 31, 2012 active listings in Santa Clara County are 2007 units, of that the single family homes were 1482 and condo/townhomes were 525. These numbers were down 41% from last year’s figure.
The number of homes and townhome/condos that went into contract over the last 30 days was 1479 (single family – 1020, condo/townhome – 459). This figure was 10% less than last year.
The number of closed sales in January were 839 (612 were single family homes and 227 were condo/ townhomes). The closed sales were equal to last year!
How are things different for you this year compared to last?
Pat Chadwell, Broker
Realty World – Residential Specialists