I follow the Santa Clara County ( Silicon Valley) Single Family Real Estate market of April 2008 compared to April 2009 shows some interesting economic changes:
1.) The homes inventory goes down from last year 6043 to this year 4919. The sold homes increased from 653 last April to 914. The average price dropped from last year $986,374 to $597,877 this year. The median price of Santa Clara county homes has dropped from $768,000to $470,500.
3.) It takes average 49 days last year to sell but this year is 61 days.
With all the numbers that show this month we have almost 10% less inventory of homes for sale and the number of the homes sold increased. The both average and median price for homes dropped about 33% from last April to this April. The price dropped due to much more lower end homes such as short sales and REO (bank owned) homes sold. The above information came from the multiple listing services www.reil.com
If you are planning to buy or sell homes in Silicon Valley (Santa Clara County ) which could be the cities like sunnyvale, Cupertino, Saratoga, Moutain View, San jose.., please contact Grace Keng, REALTOR®. , I offer a free 45 min. consultation to cover a complete he current real estate market. You can email me GraceKeng1@gmail.com