Where have all the listings gone?

Victorian Single Family Home
Victorian Single Family Home (Photo credit: dlichaw)

Say – Where have all the listings gone?  The inventory for active listings in Santa Clara County has dropped to 2007 units!  That’s 1482 single family homes  and 525 condos/townhomes. I don’t know if you felt that reduction in listings but these numbers are down 41% from last year’s figures. Continue reading

Different spaces create different value

A bedroom in an AIMCO apartment home
Image via Wikipedia

Different spaces create different value.

While on a real estate home tour this week I had the opportunity to consider how some homeowners’ ideas of a good addition are flawed.

Take the boxy looking home that has a bedroom on the other side of a bedroom. The original bedroom becomes a pass through to the new 2nd bedroom.  Are you kidding me???  What was the owner smoking?  The best thing for the space might be a woman’s walk-in closet!  All the cost of that added room was best used for a closet or storage area. Continue reading

Campbell fairing well

water tower, Downtown Campbell, California, Oc...
Image by //ichael Patric|{ via Flickr

Campbell is fairing quite well compared to other areas where the inventory is spiking up and pending sales have reduced significantly. The number of active single family homes is 78 (this is down from last month). The pending sales in the last 30 days are 38 and the number of closed sales was 23 June. Continue reading

Sunnyvale sales are continuing to do well

SUNNYVALE, CA - JANUARY 22:  The Yahoo logo is...
Image by Getty Images via @daylife

The number of active single family homes in Sunnyvale, CA is 114, pending sales in the last 30 days were 84 and closed sales in May were 81 and 43 thus far in June (as of 6/18). Listings are staying steady and closings are up. This is a good indicator for this area.

The price range for the active homes ranged from $349,900-$1,499,950. The median list price is $798,000. The listing price range for the pending sales is $299,000-$1,625,000. Continue reading

I heard short sales make up 75% of the market. Is that TRUE?

MIAMI - DECEMBER 22:  Real estate agents Izzy ...

That depends. If you read my last blog you will see it is correct in the single family homes under $300K for Santa Clara County.  However, the percentage changes dramatically as the price of the home increases.

Type of Sale under 300K 300k-500K   500-750K  
Regular Sale 10% 189 34% 411 70%
REO 15% 81 15% 48 8%
Short Sale 75% 279 50% 115 20%
Misc       11 2%
total   549   585  


So if you are a buyer not wanting to hassle the long wait for the short sale process you will probably need to get in the $500K+ range.

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Willow Glen Shines

Willow Glen has 130 active single family homes, pending sales for the last 30 days are at 47 and closed sales in March are 14.   Pending sales have stayed consistent all year. 

SNAP SHOT OF LAST YEAR:  Last year at this time there were 217 active home listings so we are doing way better today. Pending sales are up 74% over last year. Closed sales are up 56%.  Continue reading

Cambrian Area Neighborhood Snapshot

RICHMOND, CA - JULY 23:  A sold sign is seen i...

The number of active single family homes in the Cambrian area is 62. There are 58 pending listings in the last 30 days and 72 sales closed in December. The list price range of the active homes is $325,000-$1,048,000. The median list price is $599,999. The list price range for the pending sales is $399,000-$1,095,000. The total listings from this time last year are down 64%, pending sales are up 33% and closed sales are up 88%!

The condos/townhomes for this area is 16 active, 10 pending sales in the last 30 days and 18 closed in December. The listings are down to about 1/3 of last years figures and closed sales are up over 3 times those of last year.

As of January 1,2010, in the Santa Clara County the inventory for active listings of single family homes was 1548 and condo/townhomes is 598. Totaling 2146 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 1200. This figure is up 26% over last year.

The number of closed sales in December was 1272. This figure is up 41% over last year! The 1st time buyer program and investors in the market have had an impact on this a LOT.

Last year at this time there were 1246 short sale listings, 751 bank owned properties and 1729 traditional sellers. This year the numbers are 353, 162 and 923 respectively. The first two segments (short sellers and bank owned properties) dropped significantly. Last year only 15% of traditional sellers were in contract and this year it is 35.9%.

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Silicon Valley’s Real Estate Market vs. Texas

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My new husband hails from Texas and when asked where he is from (even though he has been gone to over 20 years) he still says TEXAS!

Texans always like to push out their chests and state how “Texas is bigger” and my remark to that is “So is the Real Estate Inventory”. 

The Silicon Valley is lucky to have lots of homes selling in our area.  Right now there are 2,729 active listings, 1,774 pending listing in the last 30 days and 741 closed sales in the month of November.  The number of listings in the Santa Clara County compared to last year is down 46%.  Pending sales are up 40%. 

In our match up of the two contendors – We have in this corner – listings in Silicon Valley  (Santa Clara County) at 2,729  (population 1.76 million) compared to –

Houston – 17,267 (population 2.24 million )
Dallas – 6,591 (population 1.27 million)
San Antonio – 5,920 (population 1.35 million)
Austin – 5,920 (population 758,000)   I have to admit I do have a lot of attraction for Austin and their numbers are pretty good but NOT good enough be beat the inventory figures for our area! 

So the winner is the Silicon Valley!!!

Other hopefuls who did not even make the cut were –
Detroit: 4,292 listings
Miami: 15,542
Las Vegas: 18,409
Phoenix: 8,168
New York : 11,375

To make this fair all statistics were taken from www.realtor.com

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