Deniece
Watkins
Smith
Realtor, ePro, SRES
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Los Altos, Los Altos
Hills, Mountain View, Palo Alto, Portola Valley, Sunnyvale Updated
April 16, 2009
by Deniece Watkins Smith
|
What a difference
one month makes! We have seen an uptick in sales activity
in many cities both in Santa Clara County and San Mateo County in the
last fourteen days. Some significant numbers for this report are
the changes in pending sales.
Pending sales changes by city since March 16, 2009:
Los Altos +77%
Los Altos Hills +100%
Menlo Park +132%
Mountain View (Homes) +36%
Mountain View (Condo/TH) +50%
Palo Alto +50%
Portola Valley +200%
Sunnyvale +8%
Sunnyvale (Condo/TH) -9%
Seasonally we see pickup in sales, but the
numbers here are significant and worth mentioning. (See detailed
numbers below including price ranges. ****Note that Pending Show
or "PS" are the most recently accepted contracts in general.*****)
Perhaps 52-year low interest rates, along with
more inventory than we have seen at any one time in recent years, is
finally convincing enough data to believe it is a great time to
buy.
Remember that housing starts have been slow in
the past two years which will most likely cause a shortage in supply of
homes to buy once this stale inventory is absorbed. Basic
economics...lack of supply?? ..increase in demand?? Prices should
see a positive effect.
I'm keeping my eyes on the next report numbers
(early May) to see if we can show consistency in this strength.
I'm also ready to provide you with the best
experience, knowledge, and real estate team you have ever worked with
when you are ready! 650-483-2055 can get me any time.
--Deniece
|
|
2008 |
Change since |
|
|
| Los
Altos |
4/16/2009 |
3/30/2009 |
Lowest Price |
Highest Price |
| Active |
111 |
3 |
$ 699,000
|
$ 6,500,000
|
| Pending
Show |
12 |
10 |
$ 1,025,000 |
$ 2,350,000
|
| Pending
Release |
1 |
0 |
$ 1,600,000 |
|
| Pending |
10 |
3 |
$ 1,075,000 |
$ 4,298,000
|
| Total
Pending |
23 |
13 |
|
|
| Total
Listings |
134 |
16 |
|
|
| Percent
Pending |
17% |
|
0 REOs |
2 Short Sales |
| |
|
Change since |
|
|
| Los
Altos
Hills |
4/16/2009 |
3/30/2009 |
Lowest Price |
Highest Price |
| Active |
62 |
8 |
$ 1,500,000 |
$ 38,000,000
|
| Pending
Show |
3 |
1 |
$ 1,599,000 |
$ 2,795,000
|
| Pending
Release |
1 |
-1 |
$ 2,175,000 |
|
| Pending |
2 |
-1 |
$ 1,898,000 |
$ 2,995,000
|
| Total
Pending |
6 |
-1 |
|
|
| Total
Listings |
68 |
7 |
|
|
| Percent
Pending |
9% |
|
0 REOs |
3 Short Sales |
| |
|
Change since |
|
|
| Menlo
Park |
4/16/2009 |
3/30/2009 |
Lowest Price |
Highest Price |
| Active |
122 |
-15 |
$ 250,000
|
$ 4,495,000
|
| Pending
Show |
17 |
6 |
$ 229,900
|
$ 2,249,950
|
| Pending
Release |
2 |
1 |
$ 250,000
|
$
649,000 |
| Pending |
25 |
14 |
$ 229,000
|
$ 1,895,000
|
| Total
Pending |
44 |
21 |
|
|
| Total
Listings |
166 |
6 |
|
|
| Percent
Pending |
27% |
|
6 REO's |
21 Short Sales |
| |
|
Change since |
|
|
| Mtn
View |
4/16/2009 |
3/30/2009 |
Lowest Price |
Highest Price |
| Active |
91 |
18 |
$ 450,000
|
$ 2,100,000
|
| Pending
Show |
16 |
0 |
$ 599,000
|
$ 2,199,000
|
| Pending
Release |
0 |
0 |
|
|
| Pending |
17 |
4 |
$ 399,950
|
$ 3,298,000
|
| Total
Pending |
33 |
4 |
|
|
| Total
Listings |
124 |
22 |
|
|
| Percent
Pending |
27% |
|
2 REOs |
6 Short Sales |
| |
|
Change since |
|
|
| MV
Townhomes |
4/16/2009 |
3/30/2009 |
Lowest Price |
Highest Price |
| Active |
84 |
8 |
$ 235,000
|
$ 1,149,000
|
| Pending
Show |
18 |
5 |
$ 199,000
|
$
719,000 |
| Pending
Release |
2 |
-1 |
$ 399,000
|
$
499,999 |
| Pending |
14 |
3 |
$ 270,900
|
$
729,000 |
| Total
Pending |
34 |
7 |
|
|
| Total
Listings |
118 |
15 |
|
|
| Percent
Pending |
29% |
|
8 REOs |
16 Short Sales |
| |
|
Change since |
|
|
| Palo
Alto |
4/16/2009 |
3/30/2009 |
Lowest Price |
Highest Price |
| Active |
143 |
30 |
$ 799,000
|
$ 6,980,000
|
| Pending
Show |
19 |
4 |
$ 888,000
|
$ 2,689,000
|
| Pending
Release |
0 |
-1 |
|
|
| Pending |
20 |
6 |
$ 875,000
|
$ 2,495,000
|
| Total
Pending |
39 |
9 |
|
|
| Total
Listings |
182 |
39 |
|
|
| Percent
Pending |
21% |
|
0 REOs |
0 Short Sale |
| |
|
Change since |
|
|
| Portola
Valley |
4/16/2009 |
3/30/2009 |
Lowest Price |
Highest Price |
| Active |
21 |
-2 |
$ 989,000
|
$ 7,895,000
|
| Pending
Show |
3 |
0 |
$ 2,195,000 |
$ 4,995,000
|
| Pending
Release |
1 |
-1 |
$ 1,025,000 |
|
| Pending |
8 |
7 |
$ 1,879,000 |
$ 6,900,000
|
| Total
Pending |
12 |
6 |
|
|
| Total
Listings |
33 |
4 |
|
|
| Percent
Pending |
36% |
|
0 REOs |
0 Short Sales |
| |
|
Change since |
|
|
| Sunnyvale |
4/16/2009 |
3/30/2009 |
Lowest Price |
Highest Price |
| Active |
161 |
46 |
$ 339,000
|
$ 1,999,000
|
| Pending
Show |
35 |
5 |
$ 309,000
|
$ 1,100,000
|
| Pending
Release |
5 |
-3 |
$ 375,000
|
$
599,000 |
| Pending |
29 |
-1 |
$ 339,900
|
$ 1,199,000
|
| Total
Pending |
69 |
1 |
|
|
| Total
Listings |
230 |
47 |
|
|
| Percent
Pending |
30% |
|
29 REOs |
51 Short Sales |
| |
|
Change since |
|
|
| SV
Townhomes |
4/16/2009 |
3/30/2009 |
Lowest Price |
Highest Price |
| Active |
86 |
41 |
$ 268,000
|
$
799,885 |
| Pending
Show |
12 |
-1 |
$ 280,000
|
$
639,000 |
| Pending
Release |
5 |
-1 |
$ 319,000
|
$
499,000 |
| Pending |
13 |
1 |
$ 275,000
|
$
675,848 |
| Total
Pending |
30 |
-1 |
|
|
| Total
Listings |
116 |
40 |
|
|
| Percent
Pending |
26% |
|
10 REOs |
24 Short Sales |
|
|
|
|
|
