HOME SWEET HOME Great Time for Home Buyers
by Stu Carson
Stu@StuCarson.com
Myth Buster #2 Real Estate
Real Estate values in the Bay Area have not yet hit bottom!
FACT
Sales prices in Santa Clara County are up 13% from 2009
These are the facts from
MLSlistings.com, not my opinion or your neighbor’s. Enjoy!
2
009 was the bottom of “the crash” for all counties. Things have been stable since then with
prices either rising the past two years in Santa Clara and San Mateo County or rising in 2010 and then falling slightly this year in Santa Cruz and San Benito County. But you say “well, prices may have stabilized, but not that many houses are selling any more.” Actually the average number of days a home is on the market until it sells has dropped from 95 days in 2008 to 87 days this year and the total number of homes sold in 2008 was 21,332 and this year, as of Christmas Eve, was 28,278. That’s a lot of homes AND as we pointed out in last month’s Myth Buster, a lot of loans! Taking a closer look at specific towns
or areas, the overall trend is very simi- lar as at the county level with one inter- esting exception being that all four South County areas, including Silvercreek, had a slight drop from 2010 to 2011 while Willow Glen continued to increase. Los Gatos, Cupertino and other areas with top ranked schools and/or closer to the heart of Silicon
www.outandaboutmagazine.com
Valley, and corporations like Google and Cisco, also continue to enjoy year over year increases. Lots of homes were selling this sum-
mer in Gilroy and about 50% of them were short sales or bank owned. Sales in both Gilroy and Morgan Hill dropped off significantly in the fall. Possibly good news for Morgan Hill, though, in the earlier graph average sales prices dropped this year. So has inventory. Typically, when inventory drops values rise. Only time will tell. You can get the same side by side comparison of any two Bay Area mar-
kets as well as other reports on your own at
FreeReportSite.com Thinking about buying or selling a home? or know someone who is? Take some time and find a professional who is smart, experienced & has a reputation for being trustworthy.
~ Stu Carson, Broker- Associate, Keller Williams, 408 209-0849,
Stu@StuCarson.com 90orFREE.com
Out & About • January 2012 9
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