Real Estate Report presented by Stephanie Savides

Sales of single-family, re-sale homes were up 1.7%, year-over-year. There were 738 homes sold in Santa Clara County last month. The monthly average since 2000 is 987.

The median sales price for single-family, re-sale homes was up 6.5% compared to last year. The median sales price was $2,130,000.

The average sales price for single-family, re-sale homes was up 2.6% year-over-year. The average sales price was $2,457,980.

The sales price to list price ratio fell from 108.5% to 107.5%.

Pending sales were down 10.5% year-over-year. There are 616 homes in escrow.

Inventory of single-family, re-sale homes was up 52.1% compared to last year. As of May 5th, there were 972 homes for sale in Santa Clara County. The average since January 2000 is 2,703.

Days of Inventory, or how long it would take to sell all homes listed for sale at the current rate of sales, fell from 39 days to 38 days. The average since 2003 is 89.

It took fourteen days to sell a home last month. That is the time from when a home is listed for sale to when it goes into contract.

The median sales price for condos was down 1.2% compared to last April. The median sales price was $1,050,000. The average sales price fell 0.2% year-over-year. The average sales price was $1,130,980.

Condo sales were down 7.7%. There were 301 condos sold in April.

The sales price to list price ratio fell from 103.5% to 102.8%.

Pending sales were down 20.9% year-over-year. There are 269 condos in escrow.

Condo inventory was up 102.7% compared to last April.

As of May 5th, there were 673 condos for sale in Santa Clara County. The average since January 2000 is 757.

Days of inventory rose from fifty-eight to sixty-five.

It took an average of nineteen days to sell a condo last month.

If you are planning on selling your property, call me for a free comparative market analysis.