The Santa Clara County real estate market has been steadily improved since the beginning of 2011 and with a few months left in the year, it has time to continue that trend.  The median price has had a slight dip from $523,000 in July to $516,000 in August 2011. For Los Gatos real estate this median price is less than August 2010 ($530,000) but higher than August 2009 ($500,000).  This month’s median also remains well above the two year average median of $509,000.

An overview of the current market is seen by looking at the two year average moving trend.  For the SCC real estate market in supply and demand the number of Saratoga houses for sale is down slightly -2.8%, while under contract properties continue to soar at +20.4% and closed escrows are down slightly again at -1.6%.  The astounding item to note is that under contract properties one year ago were only at 1237, while this August there were 1785 pending sales at month end, a two-year high!  What a great way to lead into the final months of 2011!

August 2011’s overall months’ supply of inventory remains at a five year low: 2.0 months’ supply.  However, the number of days on the market month over month has increased slightly from 64 to 67 days.  29.6% of the active Los Altos homes on the market were under contract by the end of August; this is significantly higher than both August 2010 (14%) and August 2009 (20%).  This also remains much higher than the two year average of 18.7%, in fact it is a five year peak.  The market continues to sit close to equilibrium and is currently not swayed toward being a buyer or seller’s market.

The Santa Clara County real estate market sits at a great place and the final months of 2011 look quite promising.

Santa Clara County Real Estate Market Statistics, August 2011

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Statistical details provided by: Sereno Group

The Santa Clara County real estate market has steadily improved since the beginning of 2011, with substantial gains continuing to be the trend.  The median price for July 2011 has increased for the fifth month in a row from $527,000 in June to $529,000 in July 2011. For Los Gatos homes this median price is even with July 2010 ($529,000) and higher than July 2009 ($510,000).

An overview of where the market stands comparably today can be seen by looking at the two year average moving trend.  For the SCC real estate market in supply and demand the number of Saratoga houses for sale is down slightly -3.2%, while under contract properties are also up considerably at +16.7.1% and closed escrows are trending down at -10.3%.  The astounding item to note is that under contract properties one year ago were only at 1299, while this July there was 1804 pending sales at month end.  This is fantastic news for today’s market.

July 2011’s overall months’ supply of inventory remains at a five year low: 2.0 months’ supply.  However, the number of days on the market month over month has increased from 60 to 64 days.  29.2% of the active Los Altos homes on the market were under contract by the end of July; this is drastically higher than both July of last year (15%) and July 2009 (18.6%).  This is also much higher than the two year average of 17.3%, in fact it is a five year peak.  By remaining around the 25% properties under contract (PUC) threshold, the market sits close to equilibrium and is not swayed toward being a buyer or seller’s market.

These great statistics for our half-year mark, show the influence which the stabilizing economy has upon the California real estate market.

Santa Clara County Real Estate Market Statistics, July 2011

With many years of local expertise and knowledge, choose Los Gatos REALTORs who specialize in Los Gatos luxury, with years of expertise marketing upper-tier Los Gatos real estate, Los Gatos properties, and surrounding areas.  Get personalized recommendations on marketing Monte Sereno properties, Willow Glen homes, Almaden real estate, Los Altos real estate, and find your Saratoga homes worth.

Statistical details provided by: Sereno Group

The Santa Clara County real estate market continues to gain momentum as the year progresses.  The median price for April 2011 has increased drastically for the second month in a row, from $480,000 in March to $515,000 in April. This median price is slightly lower than April 2010 ($531,000), but drastically higher than April two years ago in 2009 ($430,000).  The two year median is $501,000, and for Los Gatos homes April’s numbers are much higher.

When observing the market over the past 18 months, some important SCC real estate trends become evident.  In supply and demand, the number of houses for sale in Monte Sereno CA is down considerably-11.4%, under contract properties are down -9.1% and closed escrows are down -19.4%.  Under contract properties one year ago were at 1698, while this April there were 1766 pending sales at month end; what great news!

The overall months’ supply of inventory remains at a three year low at 2.4 months for April 2011. In April 2010 this number sat at 3.4 months’ supply and back in April 2009 this number rested at 4.1 months’ supply.  The number of days on the market has declined drastically, now sitting at 60 days.

26.8% of the active Los Altos properties on the market were under contract by the end of April; this is up slightly from March 2011 (26.4%) and February 2011 (21.4%).  The percent under contract currently sits at 17%; being near a 25% PUC means that the market continues to not be swayed toward being a buyer or seller’s market, but rather the market sits at equilibrium.

With improvements in the economy throughout California and the US, we will continue to see this real estate market improve throughout the 2011 fiscal year.

Santa Clara County Real Estate Market Statistics, April 2011

With many years of local expertise and knowledge, Steve and Christine Perry are Los Gatos REALTORs who specialize in luxurious Los Gatos real estate, and homes for sale in Willow Glen and surrounding areas. Get personalized recommendations on marketing your Almaden home and find your Saratoga homes worth.

Statistical details provided by: Sereno Group

The Santa Clara County real estate market has had its ups and downs over the past year, but currently stands in a great place for some major growth.  The median price decreased slightly from $464,000 in January to $435,000 in February 2011.  While this median price is lower than February 2010 ($493,250), it is higher than February 2009 ($421,000).  With growing sales activity in the upper-tier arena, such as luxurious $3-$8 million Los Gatos homes, we expect to reach a two year high in the median at some point this year.

Important SCC real estate trends are quite evident, especially when comparing month over month statistics from a two-year period.  In supply and demand, the number of houses for sale in Monte Sereno CA has remained down by 18.1%, under contract properties are down 10.2% and closed escrows are down 10.9%.  Only a year ago, there were 1173 under contract properties, while this February there were 1631 pending sales at month end; this is great news!

The overall months’ supply of inventory remains at a three to four year low at 2.4 months for February 2011; this is nearly one third the level of February 2009 when it sat at 7.1 months’ supply.  In addition to all this, the number of days on the market is finally in decline, now sitting at 75 days.

26.8% of the active Los Altos properties on the market were under contract by the end of February; this is markedly higher than December 2010 (16.1%) and January 2011 (21.9%).  This is also higher than both February of 2009 (11%) and February 2010 (17.8%).  Being near a 25% PUC means that the market continues to not be swayed toward being a buyer or seller’s market, but rather the market sits at equilibrium.

The current increase in buyers and sales activity is creating a momentum that has not been seen in over four years, ensuring a robust SCC real estate market throughout the 2011 fiscal year.

Santa Clara County Real Estate Market Statistics, February 2011

As Los Gatos REALTORs specializing in luxurious Los Gatos real estate, and homes for sale in Willow Glen and surrounding areas, Steve and Christine Perry have many years of local expertise and knowledge.   Get personalized recommendations on marketing your Almaden home and find your Saratoga home’s worth.

Statistical details provided by: Sereno Group