Not enough inventory, plenty of buyers.
There are currently 40 single family Santa Clara homes for sale, the same as last week.
There are currently 26 Santa Clara town homes/condos for sale, down from 27 last week.
There are currently 71 pending sales of Santa Clara single family homes, down from 78 last week.
There are currently 50 pending sales of Santa Clara town homes/Condos, up from 42 last week.
In May of 2013 there were 45 single family Santa Clara homes sold, 6 more than the number in April, ranging in price from $495,000 to $1,290,000. This shows a decrease in price range of 10% for the lowest priced home sold in April. The highest is the up 3% from April.
In May of 2013 there were 33 Santa Clara Town Homes/Condos sold, five more than in April. They ranged in price from $280,000 to $825,000. Again the low end is about 25% higher and the high end about the same. The lowest priced traditional sale was $275,000 in April so a low price of $280,000 is not that significant.
Santa Clara single family home listings had a good jump last week, up about 20% from the previous week. This week there was no change but that is not too surprising considering the large jump after Memorial Week-end. 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. However, there was not an increase in condos for sale and this is important as there are so many young people trying to buy their first homes and so few condos for them to buy.
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.