Good afternoon everyone and welcome to Raymond’s Real Estate Update for Santa Clara County and San Jose Real Estate! You will read how the market is consistently improving like Evergreen MLS area at 39.3% appreciation from March to April this year. You will also note that I try to stay with facts by only showing actual numbers. Should you want detail information for a certain zip code as I have done for a few neighborhoods below feel free to email me and if I have numbers for that particular area I will supply them.
Well, considering we now have had rain 30% of the days this year in San Jose, the median home price still appreciated 11.6%↑ over the last 4 months as of May 1st. The amount of homes that went into pending status for April over March was only a difference of a 7 home decrease for the whole County.
As far as the inventory, it has climbed 10%↑ to 2605 as of April 30th still down from a seasonal average of 4000 or even when we were at peak median price for the county $867k which we had 3233 homes available April 2007. Another reason why home appreciation is still on the rise at a time when many think we haven’t hit the bottom.
The absorption rate based on pending sales sits at 51.1%, which means 51.1% of the homes that listed in April 2011 went into contract the same month. Pretty good numbers when you compare to previous years same month like April 2008 when it was only 15.5%.
Take a look at some graphs below showing actual numbers for San Jose Real Estate, Almaden Valley Real Estate, Santa Clara Real Estate, Evergreen Real Estate, Campbell Real Estate, and Los Gatos Real Estate.
ALMADEN VALLEY median price 2.4↓ Mar.11-Apr.11
EVERGREEN mls area median price 39.3↑ Mar.11-Apr.11
CAMPBELL mls area median price 3.1%↓ Mar.11-Apr.11
City of SANTA CLARA median price 3.3%↑ Mar.11-Apr.11
LOS GATOS-Monte Sereno median price 12.8%↑Mar.11-Apr.11
BLOSSOM VALLEY mls area median price 1.7%↓ Mar.11-Apr.11
Thanks for reading Raymond Chavez Real Estate Blog! In the mean time don’t forget to visit www.raymondchavez.com to connect with me on LinkedIn or Facebook!