Which area homes sold faster?

By
Real Estate Agent with Keller Williams Realty Cupertino

It is interesting that I found out the home where I live now - Sunnyvale, California that home sold fast!even through it is slower compared with last year. Are you ready? I mean the market is totally changed.

We heard about the real estate market is slow and it has changed from seller's market to buyer's market. I used the data from August 2007 to August 2008 Sunnyvale Single family home real estate as an example:

Sunnyvale 8-2007 to 8-2008 real estate market

1). More homes inventory 22% more then last year.

2). Less homes closed: 10% less then last year.

3). Take longer: the date on market went from 20 days to 37 days which is 185% increase.

4). Median priced dropped from $925K to 850K.

Even though this market sold the fast but the date on the market to sell grow 185%.

The above information is extracted from the www.reil.com by Grace Keng of RE/MAX RES Cupertino, CA

 

Comments (1)

Sherry Peckhoon Sim
Sims & Company - Cayucos, CA
Broker/Owner, Covering the Beautiful Central Coast

Grace, I am impressed with your graph. I like to post market reports too. See post on "Median Home Price Declined Slightly in San Luis Obispo," but don't seem to remember how to get different sets of data on the same graph.  Do you use a spreadsheet to produce the graph?

Sep 08, 2008 06:46 PM