Instant Home Info: Top Trends in Silicon Valley Real Estate Sales!

Monday, April 25, 2011

Top Trends in Silicon Valley Real Estate Sales!

The latest data from the California Association of Realtors shows improving home sales for Silicon Valley! Here's a snapshot of month-to-month sales comparisons for single family homes, from February 2011 to March 2011:

San Mateo: Median home prices increased 11.6%, from $623,000 to $695,000. Days on market improved from 33 to 27.

Santa Clara: Median home prices increased 6.9%, from $525,250 to $561,500. Days on market improved from 39 to 27.

Alameda: Median home prices increased 4.8%, from $458,060 to $480,250. Days on market improved from 96 to 74.

San Francisco: Median home prices increased 12.1%, from $606,560 to $679,770. Days on market improved from 68 to 47.

Let me also explain that during this period in 2010, we saw higher market values, but this was due to the first-time home buyer tax credit that temporarily stimulated the market.

The tax credits prevented the market from experiencing quicker price reductions during the economic downturn, somewhat delaying the bottom. Now that the real estate market is operating under the "new normal" - absent of special tax incentives and under tighter credit - we can appreciate the significance of the recent month-to-month statistics.

In fact, San Francisco Bay Area real estate is a leader in the California housing recovery, showing an overall 9.7% sales price improvement from February 2011 to March 2011.

While the recent trends are positive, there are always individual considerations that come into play.

Location counts in today's Silicon Valley real estate market. For example, properties in a high-scoring school district enjoy strong attention. For other buyers, the commute and distance from their employment is more important.

The condition of the home affects the days spent on market and the final selling price. Homes that show "like new" get the strongest offers. Homes that need work tend to bring investor-minded buyers who are looking for discounts, whether or not the repairs have been factored into the price.

The size of a home creates price distinctions. Single-family, four-bedroom homes in good condition have strong pricing power. This is due to the fact there's little competition from rentals and condos. In contrast, a two-bedroom home faces more rivals for the housing dollar.

Sharing Bay Area real estate information is one of the many services I provide to my clients. If you are thinking of selling your Silicon Valley home, I encourage you to contact me today for a customized market analysis. I will listen to your needs and prepare a strategy for success in today's real estate market. Let my client-first philosophy help you sell with confidence!

Shannon Rose
Silicon Valley Real Estate Expert
Visit My Silicon Valley Real Estate Website
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There are many qualities and skills that go into being an excellent real estate professional - integrity, in-depth community and market knowledge, marketing savvy, effective negotiation skills and a high-quality professional network, all of which are hallmarks of how I work. That said, in my experience as a real estate professional, I've also found that providing the very best service is essentially about putting my clients first. This means keeping myself accessible, being a good listener as well as a good communicator, and responding quickly to your needs. This "client first" philosophy has always been my approach and it requires me to continually improve my skills and ways of doing business. In addition, I've found that the latest technologies are enabling me to do everything I've always done, only much more quickly and efficiently. They've also helped me to extend the range of services I provide to my clients. So when you decide that you'd like to buy or sell a home in the Silicon Valley, please contact me.

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Silicon Valley is in the southern part of the San Francisco Bay Area in Northern California. Typically considered to be comprised of several counties; San Mateo, Santa Clara, Alameda and Santa Cruz. The region is home to many of the world's largest technology corporations., such as Yahoo, Google, Apple, eBay, Cisco, etc. The term originally referred to the region's large number of silicon chip innovators and manufacturers, but eventually came to refer to all the high-tech businesses in the area; it is now generally used as a metonym for the American high-tech sector. Despite the development of other high-tech economic centers throughout the United States and the world, Silicon Valley continues to be the leading hub for high-tech innovation and development, accounting for one third of all the venture capital investment in the United States. Geographically, the Silicon Valley encompasses all of the Santa Clara Valley including the city of San Jose (and adjacent communities), the southern Peninsula, and the southern East Bay. This includes cities such as Mountain View, Palo Alto, Sunnyvale, Cupertino, Fremont, San Mateo, San Carlos and many more!