Santa Clara County, CA-Silicon Valley Home sale update

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Real Estate Agent with (408) 425-1601 CA bre 1519182
https://activerain.com/droplet/55tz

                                                                                Sam Shueh

                                                       Realty One Group

                                                           Campbell, CA  

The demand for housing with robust high tech employment precipitated another spectacular house hunting season again. Most homes quickly are taken first week with sold price higher than asked by +3%. In May 2017 Sold/listed ratio being 106.5% in the entire county.   So far interest rate hikes, appraisal fear, overpaying, lose in incom do not seem to bother most people.    It is truly a buyers market.              

 

                                       SANTA CLARA COUNTY, NORTHEN CALIF

 

                 # of Sales 2,587 units in 2016 q1 ->2,666 units in 2017 q1 or increase of +3%
Median Price ($K) $946K->$1,049K  or +10.8% YTY  Marketing time (DOM) 12 days
 
San Jose City -1465->1,516 units sold during Q1 2017 vs same quarter last year
Median Price ($K)  $856->$924K +8.0% YTY;  Marketing time=12 days 
 
Mountain View Sales=98
Median Price ($K)  1,357->$1,449 +7%  DOM=12 days
 
Palo Alto Sales=73
Median Price ($K)  $2,225->$2,455  +10% DOM=23 days
 
Los Altos  Sales=66
Median Price ($K)  $2,625->$2,810 +7% DOM=12 days
 
Los Altos Hills Sales=15
Median Price ($K)  $3,660->$4,015  +10% DOM=59 days
 
Santa Clara City  -Sales=143
Median Price ($K) $950->$980  +3% Ave DOM=19 days
 
Campbell -Sales=78
Median Price ($K)  $1,002->$1,169 +17% DOM=12 days
 
Cupertino -Sales=64
Median Price ($K)  $1,625->$1,821 +12% DOM=9 days
 
Saratoga  - Sales=52
Median Price ($K)  $2,225->$2,217  +0% DOM=24 days
 
Los Gatos -Sales=96
Median Price ($K)  $1,646->$1,700  +3% DOM=12 days
 
Sunnyvale  -Sales=145
Median Price ($K)  $1,146->$1,260  +10% DOM=14 days
 
Monte Sereno -Sales=8
Median Price ($K)  $3,005->$2,415 -20% (variance is due to smaller size homes and small sample size)
 
Morgan Hill -Sales=111
Median Price ($K)  $750->$834K +11% DOM=28 days
 
Gilroy -Sales=118
Median Price ($K)  $654->$670K  +2%  DOM=25 days

 

SOURCE:  

Snopsis on Mortgage Interest Rate vs Affordability (Silicon Valley affordability

Santa Clara and South San Francisco Bay Area Home Stats Q2 2016  

How is my Silicon Valley home worth? (Silicon Valley Home Values

Sam Shueh Real Estate Blogs 

Website - Sam Shueh Realtor    SamShuehRealtor at Gmail.com

                                                           (Four O Eight) 425-1601   

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Rainmaker
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LLoyd Nichols
Premier Florida Realty of SWFL - Fort Myers, FL
SW Florida Homes

Its interesting that your medium price is higher then in 2005-2006. WE are getting closer here but not yet there. The DOM are quite impressive so are the selling prices which are often higher then asking prices!

Jun 15, 2017 08:59 PM #1
Rainmaker
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Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

LLoyd Nichols 

Avg home price has almost tripled (3X) of the valley since 2009.  The high pay from smart phone companies, social media, and self driving car technocrats are pulling the price up. All these social media companies used on AR for blogging are local.  Google and we still have semiconductor companies.

Sam Shueh

Jun 15, 2017 09:14 PM #2
Rainmaker
2,027,533
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good Morning Sam - yes you certainly have a hot sellers market on top of the sellers market seen in many parts of the country.

Jun 19, 2017 04:23 AM #3
Rainmaker
5,574,861
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This is good information to share with families on the move.

Have a most productive summer.

Jun 21, 2017 10:05 AM #4
Rainmaker
4,432,533
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Thank you for sharing 

Jun 22, 2017 01:55 AM #5
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Rainmaker
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Sam Shueh

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