Current Market Stats for 2009
Friday, July 10, 2009
This chart shows the market change we are experiencing. The current inventory is very low and the number of new listings coming to the market is slowing. There are only 5,575 properties listed for sale today.
Over 2 Billion dollars of sales have been closed in the second quarter of this year compared to 1.1 Billion in the first quarter of 2009.
Days on the market ( the term in which the property was listed and sold) has been slashed in the single family home arena from 103 to 92. 104 days on the market for Condo/Townhomes in Santa Clara County continues to be the norm.
It is my opinion, based on this information that prices are not going down anytime soon. Consider this: The average sales price for single family homes was at $567,338 in the first quarter and it is now, $641,208 a positive change of $73,870 in just three months.
That is an increase of over 10%. The Median Sale Price increased by $55,000! I have all the information required to help you make an offer that you can live with. No, There is no obligation. We all need to work as a team today!
Are you in the “prices are going to drop camp”? Maybe you should start looking for a new campsite.
Now, I know all Real Estate is local. Areas like Los Gatos and Cupertino are seeing a serious difference in activity compared to Milpitas and Sunnyvale.
