Blossom Valley is in bloom – Sales are bursting forth

Yes – Blossom Valley is in bloom and Real Estate sales are bursting forth.

Double-flowered Cherry Blossoms

The number of listings is down by a whopping 57% from last year!    There are currently 63 active listings in Blossom Valley ranging in price from $240,000-$1,995,000. The current median list price is $505,000.  Look at these numbers – Last year there were 148 active listings. And the median price was $485,000.

In the last 30 days there were 60 pending sales. By tracking pending sales over the last 30 days you get a better representation of the health and speed of the market rather than looking at the overall pending sales.  Since a large number of the pending sales are short sales you can get a huge number but some might have been pending for 6+ months and the likelihood of them closing are be less than a younger pending property.

Here are the sales in bloom – There were 36 closed sales in February. Closed sales are up about 38% over last year at this time.

The condo/townhome market has 22 active listings. February 2011 there were 110 active listings.  That equates to the number of listings down 80%. There are currently 61 pending sales in the last 30 days. The closed sales of 42 in February are up 40% from last year. This are incredible figures.

All this is great news as Blossom Valley was badly hit during the “crash”.

As of February 29, 2012 active listings in Santa Clara County are a scant 1891, of that the single family homes were 1456 and condo/townhomes were 435. These numbers were down 45% from last year’s figure!

The number of homes and townhome/condos that went into contract over the last 30 days was 1756 (single family – 1219, condo/townhome – 537). This figure was just slightly more than last year.

The number of closed sales in February were 940 (661 were single family homes and 279 were condo/ townhomes). The closed sales were up 4% compared to last year!

Understanding your options both in Real Estate and lending is critical now as guidelines have changed making the real estate market fluid. Want to know your options? Call me!

Pat Chadwell, broker
Realty World – Residential Specialists
408-927-6565 x 11


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