We Are Holding Firmly in the Valley!

SILICON VALLEY ASSOCIATION OF REALTORS published (see below) an article in their August 2008 issue of “SILICON VALLEY REALTOR” : POSITIVE TRENDS IN SILICON VALLEY,  basically the sales numbers of 2008 in the Valley are holding very firm and strong. We still see multiple offers, price hike in most cities in the Valley, contratictory to all the bad news we heard everywhere else in California and in the Nation.
We should feel lucky. But more importantly, Bay Area’s business type is lead by high tech. More than 50% of the nation’s high tech companies and businesses are in Bay Area.  We are not being affected hard as in sectors such as finance, banks and real estate builders as in nation’s average. Also, Peninsula does not suffer a foreclosure market as it is in East San Jose area. (speaking of locally) People works and live in the Valley are with more stable income and responsible on their personal finance.
AUGUST 2008 (v. 1, #2)    

While many areas in California continue to wrestle with foreclosures and neighborhoods actually seeing home sales picking up. Santa Clara County, particularly neighborhoods in Silicon Valley, is seeing some positive trends month after month.
MLSListings Inc. reveals there were 927 closed sales of single family homes in Santa Clara County in June 2008, up from 873 in May, 654 in April and 583 in March. Average Days on Market (ADOM) has been reduced from 55 days to 50 and the average price of a single family home in June was $922,149.

In the first half of 2008, the median sales price of a single family home in Cupertino increased from $1,180,000 to $1,206,000, in comparison to the same period last year. Condos and townhomes also appear to be in demand in this neighborhood, as the median sales price increased from $656,000 in the first half of 2007 to $690,000 in the first half of 2008.

In Los Altos, the median sales price also increased from $1,710,000 in the first part of 2007 to $1,785,000 in 2008. Even condo and townhome sales are healthy with days on market dropping from 35 to 29, and the median sales price up from $860,000 to $874,500.

In Los Gatos, the median sales price of a single family home slid down a bit from $1,434,500 during the first half of 2007 to $1,415,000 in 2008, but its closed sales are increasing month after month.

Palo Alto saw the median sales price rise from $1,520,000 to $1,575,000 in the first part of this year. Sales of condos and townhomes continue to be brisk there too, and their median sales price up from $726,575 to $869,000.

Check MLSListings Inc. regularly in order to provide clients with the most up-to-date information for your area.”

 It’s a great chance to buy, interest rate is still at it’s all time low. Should you consider jumping into this fantastic buying time, please give me a call.”















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