SILICON VALLEY REAL ESTATE MARKET TRENDS
Market Statistics
Sale of single-family homes, re-sale single family homes fell 4.9% in October, 2011 from September, 2011 but were up 2.4% year-over-year. Year-to-date, home sales are up 0.5%.
Condo & Townhome sales were up 3.8% from September and up 12.5% year-over-year. Year-to-date, condo sales are up 11.1%.
The median home price was down 13.9% year-ove
r-year. This is the twelfth month in a row the median price for homes has been lower than the year before.
The median price for condos was off 4.1% compared to last October.
Inventory for both homes and condos continues to be weak. Inventory of homes was down 25% compared to last October: 2,014 homes actively listed. Condo inventory was down 44.2% year-over-year.
Please remember, while statistics are nice, they will not determine the price you pay or get for a property. That will come down to you and the buyer or seller.
Visit our Silicon Valley Real Estate site for more information on all of the Silicon Valley Real Estate Market Statisitcs.
