Silicon Valley Homes

2011 Year End Market Report

Week ending December 31, 2011 compared to January 1, 2011

There were 1,372 Silicon Valley homes, including short sales and bank owned homes in the week ending December 31, 2011.

There were 2,065 Silicon Valley homes, including short sales and bank owned homes in week ending January 1, 2011.

Of the 1,372 Silicon Valley homes for sale, there were 353 short sales, 192 bank owned homes, and 886 traditional Silicon Valley homes for sale.

Prices and Sales

Silicon Valley Real Estate – 2011 Year End Market Report

  • Median Price: $535,000 = 4.4% decrease from November 2011 ($559,500). Year-over-Year = 4.6% decrease from $560,000. December was the 14th consecutive month the median price for homes was lower than the previous year.
  • Average Price: 722,631 = 4.1% decrease from November 2011 ($753,848). Year-over-Year = 4.3% increase from $693,064.
  • No. of Sales: 868 = 8.0% increase from November 2011 (804 sales). Year-over-Year = 3.6% decrease from 900 sales.
  • Sale vs. List Price: 98.7% = 0.3% decrease from November 2011 (99.0%). Year-over-Year = 0.2% increase at 98.5%.
  • Days on Market: 63 = 5.9% increase from November 2011 (59 days). Year-over-Year = 3.5% increase at 61 days.

2011 Sales Increased, Prices Dropped

  • Single-family, re-sales home sales were up 0.5%
  • After a nice gain in 2010, prices were down. The median price for homes dropped 5.3% and the average price dropped 1%.
  • Condo sales were up 12.2% over 2010.
  • The median price for condos dropped 13%.
  • Inventory continues to be low for both homes and condos. This should help drive prices up.

If you are Facing Foreclosure – understand your options.

Don’t wait until you’re out of time. Avoid Foreclosure.

Call 800-972-1822 for a free consultation.

 

KD Realty
456 Colony Knoll Dr San JoseCA95123 USA 
 • 408-972-1822