Santa Clara County Real Estate Market Report – February 2011
In this post you will find the snapshot of the Santa Clara County Real Estate Market including Median Price, Homes for Sale and Inventory for February, 2011.
Home Sales in Santa Clara County were up in February:
- Sales of single-family, re-sale homes continued to gain ground last month, rising 3.3% year-over-year. The 633 sales were the largest number of sales in February since 2007.
- The median price for single-family, re-sales homes in Santa Clara County was off 3.6% from last February. This is the fourth month in a row the median price has been lower than the year before.
Momentum in the Santa Clara County Real Estate Market:
- Pricing momentum while still positive, has been trending down for the past five months and now stands at +0.1.
- Sales momentum stopped trending downward in January. Last month it was flat at 6%.
- Pending momentum a harbinger of future sales, while still positive, has also been trending downward. Last month the number was +15%.
More Statistics for Santa Clara County Real Estate:
- Year-over-year, home inventory was up for the eighth month in a row: 5.4%.
- Pending inventory was down for the third month in a row: 3.4%.
- The sales price to list price ratio gained 0.2 of a point to 99%.
In the Santa Clara County condo market:
- The median price picked up from January, but was down 15.9% year-over-year. The average price was also down: dropping 9.3% year-over-year.
- Condos sales rebounded smartly in February, rising 41.1% year-over-year. The 295 condos sold were the most in February since 2005.
- Pending condo sales reversed course and declined last month, falling 0.7% compared to last February.
- Inventory increased for the ninth month in a row: up 21.6% year-over-year.
Remember, the real estate market is a matter of neighborhoods and houses. No two are the same. To remain updated on the Real Estate Market report of any particular neighborhood or property in Santa Clara county go to Santa Clara County Real Estate Market Report page and hit the subscribe button on top.
Disclaimer -These statistics are generated using information from the MLSListings Inc. MLS, but have not been verified and are not guaranteed.