MARKET FLASH – WINTER 2011

PALO ALTO, CA REAL ESTATE INFORMATION

WINTER MONTHS WILL BE A BUSY TIME FOR HOME SHOPPING

The real estate industry is abuzz with the super low interest rates in the 4% range. Santa Clara County's property inventory has been shrinking steadily to 3,176 homes total. Single Family properties make up 2,402 of the listings while Condos and Townhomes make up 774 of the Active listings in Santa Clara County as of 9/30/11.

Compare this inventory level with almost 5,000 homes on the market at the same time last year, buyers have less to choose from and some properties receive multiple offers. The average Days on Market for properties in Santa Clara County is 62 as of September 2011. This means that it normally takes two months from the time you list a home to the time you receive an offer and get into a sale with buyers and sellers agreeing on price and terms.

The average % of List Price is 99% in Santa Clara County, which means that is a home is selling for $500,000 the average sale price that it receives is $495,000.

Inventory months is "how long the current inventory would take to clear out at the current sales pace." The total number of months of inventory in Santa Clara County is approximately 2 Months for all single family homes and 1.5 months for condos and townhomes. When you factor in the price points it is as follows for the number of months: 3.8 months for single family homes above the $1 Million mark and 12.7 months for single family homes above the $2 Million price tag. For Condos and Townhomes the number of months of inventory is 8 months for any condos and townhomes above the $1 Million price point.

If you need any more information on speciafic areas in Santa Clara County, please call me and i will be happy to send it to you.

Daniel Pizano
“Your Friend & Resource in Real Estate”
Coldwell Banker
(408) 460-8401

Palo Alto Single Family Home

Palo Alto Condo