Not enough inventory, plenty of buyers.
There are currently 46 single family Santa Clara homes for sale, down from 49 before the July 4th Holiday.
There are currently 34 Santa Clara town homes/condos for sale, up from 30 before the July 4th Holiday.
There are currently 59 pending sales of Santa Clara single family homes, down from 69 last week.
There are currently 51 pending sales of Santa Clara town homes/Condos, down from 54 last week.
In June of 2013 there were 61 single family Santa Clara homes sold, up from 47 in May, ranging in price from $420,000 to $1,240,000. This shows a decrease in price range of 10% for the lowest priced home sold in May, but it was a short sale that took a long time to close so the market at time of sale was lower. The lowest price traditional sale was $550,000 which is $100,000 higher than the lowest price in May.
In June of 2013 there were 33 Santa Clara Town Homes/Condos sold, the same as in May. They ranged in price from $230,000 to $790,000. This is 20% lower than the lowest price in May and 5% lower than the highest price in May. Has the appreciation started to slow down? I think so.
Santa Clara single family home listings are not up from before the holiday. Condos are up 10% from before the holiday. 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.