San Francisco Bay Area Housing Snapshot

Housing Inventory Snapshot January 31, 2014   Average List Price for active listings Median List Price for active listings Average DOM: for active listings/ for sold listings Santa Clara County, CA Single Family under $1M $690,675 $698,000 41  / 34 Single Family over $1M $2,879,982 $1,899,000 66  / 23 Condo/Townhome under $600K $413,425 $409,500 39  / 34 Condo/Townhome over $600K $855,255 $784,000 26  / 23 San Mateo County, CA Single Family under $1M $690,456 $679,000 41  / 31 Single Family over $1M $4,499,167 $2,100,000 76  / 22 Condo/Townhome under $600K $402,740 $425,000 36  / 35 Condo/Townhome over $600K $932,942 $846,275 36  / 6 Santa Cruz County, CA Single Family under $1M $637,981 $649,000 69  / 35 Single Family over $1M $2,117,319 $1,750,000 111  / 138 Condo/Townhome under $600K $393,327 $359,000 85  / 51 Condo/Townhome over $600K $849,182 $739,000 152  / 87 Monterey County, CA Single Family under $1M $564,867 $499,000 71  / 54 Single Family over $1M $3,531,699 $2,295,000 116  / 145 Condo/Townhome under $600K $303,856 $249,000 80  / 66 Condo/Townhome over $600K $933,776 $725,000 83  / N/A** San Benito County, CA Single Family under $1M $533,637 $488,800 61  / 81 Alameda County, CA Single Family under $1M $513,633 $498,000 44  / 83 Single Family over $1M $2,061,946 $1,478,888 84  / 84 Condo/Townhome under $600K $374,727 $365,000 48  / 75 Condo/Townhome over $600K $768,324 $697,280 39  / 69 Contra Costa County, CA Single Family under $1M $484,078 $425,000 49  / 89 Single Family over $1M $2,484,534 $1,599,000 91  / 100 Condo/Townhome under $600K $311,574 $295,000 37  / 73 Condo/Townhome over $600K $707,300 $695,000 17  / 68

What I find most interesting about these stats is that in Alameda, San Mateo and Santa Clara Counties, the more expensive homes and condos sold have a shorter days on market than the less expensive Silicon Valley homes sold.

This shows that the good economy, low unemployment rate, high stock market values, as well as foreign money are all contributing to a booming market in Silicon Valley luxury real estate sales. It is also an indication that we saw high levels of appreciation in 2013 in Silicon Valley home sales (20-40% in many areas) so it is harder to find single family homes under a million dollars or condos under six hundred thousand dollars in the more popular neighborhoods.

So what does this mean for buyers in 2014? Homes are more expensive and sell quickly. You should study the market seriously for a while before jumping in so you know what values are and where they are going. Make intelligent offers that will most likely need to be very aggressive to win in a multiple offer situations.

For sellers, hire a great agent who can help you price your home to get the best terms for your yourself, and exposure that emphasizes the Silicon Valley home you are selling, not the agent who is selling it.

If you have any questions about buying or selling a home in the Silicon Valley please feel free to contact me.

If you would like a real time search of homes sale in the Silicon Valley click here.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

Ca BRE 01191194

650-619-9285