Is Silicon Valley Real Estate Returning To “Normal”?

Silicon Valley Housing Marke

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According to recent MLSListings Inc., in July 2013 single family home sales stayed consistent with June 2013. As compared to July 2012, inventory (the number of homes available for sale) is on the decline in a big way.

Inventory is down a whopping 34% in San Benito county, with only slightly more modest changes in San Mateo at 24%, Monterey at 22%, Santa Cruz at 20% and Santa Clara at 14%.

In July 2013, the median price saw double digits increases almost across the board compared to a year ago. Monterey County single family median price is up 50% compared to last year, San Benito up 45%, Santa Clara up 21%, San Mateo up 15%, with Santa Cruz up 5%. Compared to July of 2012, Monterey, Santa Clara, and San Mateo County sales remained relatively flat, but there was a 10% gain in San Benito County, and Santa Cruz County sales jumped a whopping 28%.

Data for month-over-month comparisons can be found on www.mlslistings.com and you can download the  MLSListings Market Indicators Report  July 2013 (PDF) for these counties: Monterey, San Benito, San Mateo, Santa Clara and Santa Cruz .

Looking to buy or sell a home in Silicon Valley? Talk to me. I offer a free, no strings consultation. Just call 408.406.6035 or use the form at the bottom of this page to schedule and appointment.

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