Santa Clara County Update – distressed vs. traditional sales

Santa Clara County Update

If you look at the amount of regular active listings below and closed sales of Single Family Homes you will see we are running between 60-68% of the sales being non-distressed properties.

Last year at this time the percentage of non-distressed sales were running at 52%. So the traditional/regular sellers are coming back to the market again. REO sales for last year were at 24%, compared to 15% this year.

Pat Chadwell, broker
Certified Distressed Property Expert
Realty World – Residential Specialists
San Jose, CA
408-927-6565 x 11 (direct)
http://www.patchadwell.com

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Santa Clara, CA is performing well

Can you believe it  the number of active single family homes in Santa Clara (city) is 30, the pending sales in the last 30 days were 71 and closed sales for February were 25?

Active listings are down 43% compared to last year.  Closed sales are up about 10% and pending sales were even when compared to last year’s figures. Continue reading

Santa Clara Real Estate at Year End (2010)

Small Single-family home
Image via Wikipedia

The number of active single family homes in Santa Clara is 94, pending sales in the last 30 days were 41 and closed sales in December were 41. Santa Clara inventory is up 284% since last year. Pending sales are up slightly over last year while closed sales are down about 20% over the same period.

The price range for the active homes ranged from $299,000-$1,450,000. The median list price is $588,000. The listing price range for the pending sales is $250,000-$799,000.

The number of townhomes/condos on the market is 87, with pending sales for the last 30 days at 26 and closed sales in December were 23. The numbers are remaining fairly steady.

As of December 31st, in Santa Clara County the inventory for active listings of single family homes was 2187 and condo/townhomes is 1107. Totaling 3294 for both. Although the inventory continued to reduce from mid-September, there is a 41% increase in single family homes on the market over last year and 85% more condo/townhomes. The later has been plaqued by a number of issues which do not seem to be correcting in the near future.

The number of homes and townhome/condos that went into contract over the last 30 days was 1359 (single family – 966, condo/townhome – 393). These numbers are about 13% higher than last year which is good news.

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Real Estate Sales are up 52% over last year!!!

Conditionally Sold!

As of November 30th, in the Santa Clara County the inventory for active listings of single family homes was 1850 and condo/townhomes is 666. Totaling 2516 for both. The number of listings dropped by 60% from last year at this time!

The number of homes and townhome/condos that went into contract over the last 30 days was 1542. This figure is up 38% over last year.

The number of closed sales in November was 1121. This figure is up 52% over last year! The 1st time buyer program and investors in the market have had an impact on this a LOT.

See how specific areas are doing – bit.ly/MarketConditions

How are sales in your area?

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