Spring Surge – Santa Clara County April Housing Market Report

Days Of Inventory Chart

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Sales of single-family, re-sale homes rose for the second month in a row in April, compared to the year before. This is after 17 months of year-over-year declines.

Active listings continue to be anemic, down by double-digits for the eleventh month in a row. Pending sales have dropped into single-digit losses.

The median price for homes hit a new all-time high last month, as did our three-month moving average.

The sales price to list price ratio hit its highest level since April 2000.

Days on Market was at 20 last month.

All these statistics point to incredible demand.

The economy in Silicon Valley continues to power the market, along with demand from China.

April Market Statistics

Year-Over-Year

  • Median home prices increased by 8.3% year-over-year to $975,000 from $900,000.
  • The average home sales price rose by 10.1% year-over-year to $1,280,480 from $1,163,500.
  • Home sales rose by 4.8% year-over-year to 1,049 from 1,001.
  • Total inventory* fell 16.6% year-over-year to 2,037 from 2,443.
  • Sales price vs. list price ratio rose by 1.5% year-over-year to 107.7% from 106.2%.

Month-Over-Month

  • Median home prices improved by 3.7% to $975,000 from $940,000.
  • The average home sales price fell by 0.8% to $1,280,480 from $1,290,580.
  • Home sales up by 30.6% to 1,049 from 803.
  • Total inventory* increased 6.3% to 2,037 from 1,917.

Sales price vs. list price ratio increased by 0.4% to 107.7% from 107.3%.

Condominiums

Year-Over-Year

  • Median condo prices increased by 7.9% year-over-year to $565,000 from $523,750.
  • The average condo sales price rose by 8.4% year-over-year to $641,360 from $591,713.
  • Condo sales fell by 14.5% year-over-year to 361 from 422.
  • Total inventory* fell 25.5% year-over-year to 619 from 831.
  • Sales price vs. list price ratio rose by 2.7% year-over-year to 107.9% from 105.1%.

Month-Over-Month

  • Median condo prices slipped by 0.9% to $565,000 from $570,000.
  • The average condo sales price fell by 2.3% to $641,360 from $656,134.
  • Condo sales up by 14.6% to 361 from 315.
  • Total inventory* increased 14.2% to 619 from 542.
  • Sales price vs. list price ratio increased by 0.9% to 107.9% from 106.9%.

* Total inventory is active listings plus contingent or pending listings. Active listings do not include contingent listings.

Live and Enjoy – Start from Your First House

1794 Camino Leonor San Jose CA-large-003-Kitchen-1500x1000-72dpi

1794 Camino Leonor San Jose CA

Housing price has gone up so fast so much over the past three months here in Silicon Valley.  If you still hold on to your dream of having a house with beautiful kitchen, exercise gym, pool side barbecue, park-like community within your budget, hold on to this one before price goes beyond your reach.

This two bedroom house with two car attached garage and a very comfortable living area size of over 1500 square feet, boasts many nice details that make it stand out from many other houses at a listing price of $620,000.  It has plantation shutters throughout the house. A bold modern kitchen makes you the center of the party. Covered square shape balcony extends your living area on the second floor and the second large covered balcony opens from the master bedroom on the top level.

Toll Brother’s attention to details and quality bring its luxurious style as always.

Even this may be your first house, enjoy fully here a stylish life. Because you are in Silicon Valley – where the dreams for many are pursued and fulfilled.

Beautiful Town House with High Walking Score

1121 Homer Commn Front

House with high walking score is the new darling of the market. More and more people want to live in a place that you can easily walk to shops, parks, companies. Hence the “walking score” was created to measure it.

This house sits in the picturesque North Pointe community in the beautiful North Valley neighborhood. The City Gold gym is in the plaza just right across along with many restaurants, banks. Stabuck, Panera Break, Panda Express, Mainstreet Bagel is in another plaza only minutes walking distance.

Because it is an end unit, you have more windows on the side of the house where there is no neighbor. Every room in this house is airy and bright. With 1651 square feet living area, it has high ceiling in living room and master bedroom. A separate family room with large windows and a kitchen with a breakfast nook as well as a formal dining room give so much space to enjoy.

For sneak peek, here is the virtual tour.  To feel the space and air and sun this house offers, come to the open house this Saturday and Sunday afternoon.

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