Good afternoon everyone and welcome to Raymond’s Real Estate Update for Santa Clara County and San Jose Real Estate June 2011! The results are in and the top 2 areas for median price appreciation from April 2011 to May 2011 is the City of Mountain View 14.3% and Almaden Valley in San Jose at 12.2%. As always you will also note that I 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.
Back to Santa Clara County! The County started at $525,000 median price on Jan. 1, 2011 and now has risen to $605,000 as of June 1st. That is a 12.9%↑ appreciation from the beginning of the year and a 4% increase just from April to May 31, 2011. The amount of homes that went into pending status for May over April was a whopping 21.2%↑ jump. Keep in mind this is not the norm as you may be thinking since last year at this time it actually decreased by 21.6%.
As far as the inventory, it has only climbed 1%↑ or 27 single family homes to 2632 total for Santa Clara County from April to May 31st as a whole. This is another positive sign on where the Real Estate Market for the County and San Jose area are going.
The absorption rate based on pending sales sits at 54.6%, which means 54.6% of the homes that listed in May 2011 went into contract the same month.
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 12.2↑ Apr.11-May 11
EVERGREEN mls area median price 14.3↓ Apr.11-May 11
CAMPBELL mls area median price 5.7%↑ Apr.11-May 11
City of SANTA CLARA median price 8.2%↓ Apr.11-May 11
LOS GATOS-Monte Sereno median price 11.8%↓ Apr.11-May 11
BLOSSOM VALLEY mls area median price 5.3%↑ Apr.11-May 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!