Silicon Valley Market Report January 1, 2009

Silicon Valley Market Report January 1, 2009

• Silicon Valley MLS
• Silicon Valley Real Estate

The number of active Silicon Valley single family home listings continues to be less than the number of active Silicon Valley single family home listings as of January 1, 2009.

The number of pending Silicon Valley condos and townhomes continue to rise.  The number of pending condos and townhomes is 30% higher than it was just 8 short weeks ago compared to an 8% increase for the number of pending Silicon Valley single family homes.

As of February 21, 2009 there were 3972 active Silicon Valley single family home listings, including short sale and REO properties,  compared to 4573 active Silicon Valley single family home listings, including short sale and REO properties as of February 23, 2008.

Of the 3972 active Silicon Valley single family home listings, 1723 are pending sales, which means 30.3% of the total is in escrow.  

The number of active Silicon Valley single family home listings including short sale and REO properties is up 1.0% from last week. The number of pending Silicon Valley single family homes is up 0.9% from last week.

The overall change in active Silicon Valley single family home listings, including short sale and REO properties from December 27, 2008 to February 21, 2009 is down 0.6% and pending Silicon Valley single family homes are up 8.2%.

As of February 21, 2009 there were 1375 active Silicon Valley condos and townhomes, including short sale and REO properties compared to 1530 active Silicon Valley condos and townhomes, including short sale and REO properties as of February 23, 2008. 

Of the 1375 active Silicon Valley condos and townhomes 537 are pending sales which means 28.1% of the total are in escrow.

The number of active Silicon Valley condos and townhomes are up 0.3% from last week. The number of pending Silicon Valley condos and townhomes are up 1.3% from last week.

The overall change in active Silicon Valley condos and townhomes from December 27, 2008 to February 21, 2009 is down 1.2% and pending Silicon Valley condos and townhomes are up 29.7%.

If you are confused by real estate market trends and statistics then you definitely want to consult with a Silicon Valley Real Estate specialist! Knowledge is power and the key to making informed buying and selling decisions.

Kathleen Daniels, Broker Realtor and Certified REO Specialist