Not enough inventory, plenty of buyers.
There are currently 50 single family Santa Clara homes for sale, up from 46 last week.
There are currently 23 Santa Clara town homes/condos for sale, up from 17 last week.
There are currently 64 pending sales of Santa Clara single family homes, up from 59 last week.
There are currently 46 pending sales of Santa Clara town homes/Condos, up from 40 last week.
In April of 2013 there were 39 single family Santa Clara homes sold, 3 less than the number in March., ranging in price from $540,000 to $1,250,000. This shows an increase in price range of 10% for the lowest priced home sold. The highest is the same as March.
In April of 2013 there were 27 Santa Clara Town Homes/Condos sold, only one more than in March. They ranged in price from $225,000 to $805,000. Again the low end is about 10% higher and the high end about the same. what is more significant is that the lowest priced condo at $225,000 was a short sale so the contract date was many months earlier. The lowest priced traditional sale was $275,000. The lowest price traditional sale in March was $225,000. This shows over a 20% increase in the low end.
These numbers are better in all categories, and up for 2 weeks in a row for single family homes. However, the ratio of pending to active listings should be 1:2 not 2:1 in a healthier market. We just do not have enough listings. Hopefully as more homeowners come out from being underwater (owing more on their home than it is worth) more sellers will be able and willing to sell.
If you would like to search for homes for sale please feel free to visit my website for a custom search.
If you have any questions about buying or selling a home in Santa Clara please feel free to contact me.