Mary Pope-Handy's Silicon Valley Real Estate Commentary

The reports on closed sales show a sluggish, and depressing, last quarter of the year. But the activity now is amazingly "hot". Yes, hot. Agents tell of homes selling in a week, with multiple offers, and over list price. It's like a flashback 2 years ago, or maybe to 2000. Simply put, there isn't much inventory. Inventory has been declining for 23 months in a row and right now there just isn't enough to go around!

But looking back, here's some info on the market over the last month and year. I hope you find it valuable!

San Jose: Median price for homes gains 4.4% in 2006. Home sales fell sharply, down 24.1%.
The number of homes listed for sale in 2006 was down 7.3% from the year before.

Santa Clara County: Home sales in 2007 down 22.8% from the year before. The median price for single-family homes gained 4.9% to $775,000.

The full annual report with the city-by-city breakdown is available from
the links below.

You can read the full on-line report here:
http://rereport.com/sj/winmph/.

There is also a printable version with more articles here:
http://rereport.com/scc/print/MaryPopeHandySCCannual.pdf

Best regards,
Mary Pope-Handy