Silicon Valley Condos Market Report - February 2012

By
Real Estate Broker/Owner with KD Realty - 408.972.1822 CA BRE#01366594

Silicon Valley Condos Market Report - February 2012

Silicon Valley Real Estate
  Condos

  • Median Price: $310,000 = 13.1% increase from January 2012 ($274,000)
  • Average Price: $358,353 = 11.4% increase from January 2012 ($321,797)
  • No. of Sales: 299 = 25.6% increase from January 2012 (238 sales)
  • Pending Properties: 884 = 9.1% increase from January 2012 (810 Pending Properties)
  • Active: 388 = 34.8% decrease from January 2012 (595 Active)
  • Sales vs. List Price: 99.3% 0.1% decrease from January 2012 (99.4%)
  • Days on Market: 62 = 11.1% increase from January 2012 (56 Days)

 silicon valley condos - February 2012

How to read the above chart

  • Median Price:  The price at which 50% of prices are higher and 50% are lower.
  • Average Price: Add all prices and divide by the number of sales.
  • SP/LP: Sales price to list price ratio or the price paid for the property divided by the asking price.
  • DOI: Days of Inventory or the number of days it would take to sell all of the property for sale at the current rate of sales. 
  • Pend: Property under contract  that has not closed escrow.
  • Inven: Number of properties actively for sale as of the last day of the month.

Silicon Valley Condo sales were down 3.9% year-over-year.

The median price for condos was up 5.1% compared to February 2011.

Inventory of condos continue to be low. Condo inventory decreased 70.8% from February 2011.

Pending condo sales increased 12.8% year-over-year.

The “Real Estate Recovery or Not? 2012 Predictions By the Pro’s Infographic” was created by ActiveRain Corp, the largest real estate social network.  1,835 real estate agents and brokers in the US and Canada were surveyed to understand if the real estate market and economy are poised for recovery in 2012, both nationwide and in local markets.

Kathleen Daniels, Broker participated in the survey. The Infographic supports the fact that real estate markets are local. 

If you are looking to sell a Silicon Valley Condo then you definitely want to hire a local agent to assist you. Kathleen Daniels' proven listing-marketing strategy gets the results you want – your home sold fast!

As a San Jose Short Sale Agent, Kathleen is well qualified to manage a all Silicon Valley short sales in Santa Clara County.


Experience means Peace of Mind
Call 1-800-972-1822 today!





Silicon Valley Condos Market Report - February 2012

 

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Rainmaker
659,520
Realty Works Temecula
Realty Works Temecula - Temecula, CA
Real Estate, Temecula, Murrieta, Menifee

Hi Kathleen:  Condominium living is becoming quite popular in California.   Many buyers like the type of lifestyle that condominium complexes offer.  The days on market in your report shows a trend of selling rather quickly, too!

Mar 28, 2012 12:42 PM #1
Rainmaker
690,427
Laura Allen, Lake Tahoe - Truckee Real Estate for Sale www.TahoeLauraLuxuryHomes.com
Coldwell Banker, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

Kathleen - Anyone interested in the Silicon Valley condo market is going to find your real estate report very helpful.  Nicely done!

Mar 28, 2012 02:49 PM #2
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Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale - San Jose Probate Agent

Jane, The condo inventory has been consumed by first time home buyers and investors.  Short sales dominate most condo markets.  We need more inventory!!! Thanks for stopping by.

Laura,Thank you. The numbers are very telling.  As you know, real estate is local. Areas of San Jose are fairing much better than the city-wide numbers reflect. Thanks for your comment.

 

Mar 28, 2012 03:00 PM #3
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