August was Scorching!


And I’m not referring to the weather.
 
Prices for both single-family, re-sale homes and condominiums were up by double-digits, again!

 

The median price for single family homes in Santa Clara County gained 17.4% over last August. The third month in a row the median price has been higher by double-digits. It is also the 66th month in a row the median price has been higher than the year before.
 
The average price for homes was up 12.9%. The second month in a row it has been up by double-digits.
 
The median price for condos gained 10.8%, the second month in a row of double-digit gains. Notably, the median price for condos has been higher than the year before every month since July of 2011!
 
The average price for condos was up 14.5% over last August.
 
Multiple offers continue to be the norm. The sales price to list price ratio, or what buyers are paying over what sellers are asking remains at triple digits: 106.4% for homes and 106.1% for condos.
 
The ratio has been over 100% for homes since March 2012 and for condos since April 2012.
 
Homes and condos are flying off the shelf. It is taking only nineteen days to sell a home, on average. Condos are taking eighteen days.
 
All of this is due to an incredible lack of inventory. Since January 2000, Santa Clara County has averaged 94 days of inventory. Last month it was nineteen!
 
Condos have averaged 87 days since 2000. Last month it was eleven.
 
With demand being through the roof due to Silicon Valley’s growth, people are moving further and further out: into the East Bay and down valley towards Gilroy.
 

Mary's newest listing! Sneak peek!


I'm really excited to be presenting an exceptionally beautiful home in an equally beautiful setting - with views!  Coming on the market this Thursday, this 4 bed, 3 bath single level, gorgeous house next to Belgatos Park in Los Gatos has been extensively remodeled and updated inside and out and enjoys stunning valley views. 



What's it all about?  Fabulous single level home at 211 Westhill Drive, Los Gatos, with 4 bedrooms, 3 bathrooms, with all the main living areas taking in the views: living, dining, kitchen, and family room. Stunning Brazilian Cherry hardwood floors, enlarged windows and a more "open" floor plan generally, inviting pool and spa - this is a resort like property!



 Offered at $2,288,000 and open Sat-Sun 2-4 and next Wednesday  9-13 from 9:30am to 12:30pm (with an espresso cart). Please stop by!  See more photos and get the details HERE.
 



Stay cool in this heat, and please let me know if I can help you in any way!
 

 
Read the pdf newsletter for any of these three counties
featuring details by city and town:

Santa Clara County
Monthly SCC Newsletter
Annual SCC Newsletter
 

San Mateo County
Monthly SMC Newsletter
Annual SMC Newsletter

Santa Cruz County
Monthly SZC Newsletter
Annual SZC Newsletter

From the Blogs



From SanJoseRealEstateLosGatosHomes.com
(aka The Valley of Heart's Delight blog)


Almaden Meadows neighborhood

The Silicon Valley real estate market bubble – it’s back! Or is it?

Is there a radon risk in Silicon Valley homes?

How do prices compare between Los Gatos, Saratoga, Cupertino and Palo Alto?


At the Live in Los Gatos Blog

Coming up! Claws for a Cause in Los Gatos

Los Gatos Community Concert Association Musical Series


From Move2SiliconValley.com Blog

Shared housing

Relocating from San Francisco to Silicon Valley

Silicon Valley neighborhoods
 
 
 
 
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Santa Clara County RE Report  4 page printable version

San Mateo County RE Report 4 page printable version

Santa Cruz County RE Report 4 page printable version