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December 05, 2009

The Silicon Valley Real Estate Report, including data for Los Gatos homes for sale and sold in November, is now ready. Below please find a summary for the key points and a link to view the entire report.

The Los Gatos condo and townhouse market had been improving in months prior but seems to have suffered a little setback in November:

Trends At a Glance Nov 2009 Previous Month Year-over Year
Median Price $573,500 $644,000 (-10.9%) $536,250 (+6.9%)
Average Price $560,394 $652,136 (-14.1%) $570,625 (-1.8%)
No. of Sales 8 11 (-27.3%) 4 (+100.0%)
Pending Properties 12 18 (-33.3%) 4 (+200.0%)
Active 39 37 (+5.4%) 42 (-7.1%)
Sale vs. List Price 96.5% 97.1% (-0.6%) 92.6% (+4.3%)
Days on Market 95 99 (-4.5%) 77 (+24.2%)

Click the following link to see the whole online report for Los Gatos townhomes and condominiums.

For the Los Gatos single family home market, there’s noticeable improvement. Inventory is declining, prices are nudging up from earlier this year (and also from a year ago in many parts of the local market). The trend appears to be moving toward a more balanced market overall. There remain some mixed indicators, though – hinting that the recovery is not happening uniformly across all price points, neighborhoods, etc.

Trends At a Glance Nov 2009 Previous Month Year-over Year
Median Price $1,360,000 $1,110,000 (+22.5%) $1,060,000 (+28.3%)
Average Price $1,412,730 $1,182,290 (+19.5%) $2,025,000 (-30.2%)
No. of Sales 31 25 (+24.0%) 9 (+244.4%)
Pending Properties 50 51 (-2.0%) 20 (+150.0%)
Active 118 134 (-11.9%) 195 (-39.5%)
Sale vs. List Price 96.2% 96.2% (0.0%) 94.6% (+1.8%)
Days on Market 63 52 (+20.0%) 36 (+73.1%)

To read the entire report online, please click on the following link to visit my Real Estate Report for Los Gatos houses and estates.

General Comments for the real estate market in Santa Clara County

The median price for single family, re-sale homes (houses and duet homes) surpassed $600,000 for the first time since August 2008. Inventory remained in a downward trend in November: down 66.7% compared to November 2008. Pending sales were up a whopping 90.4% year-over-year.

For San Jose, Saratoga, Monte Sereno, and the rest of Santa Clara County, please visit
www.popehandy.rereport.com and pull the specific area that interests you (for districts within San Jose, please first select the city of San Jose, then choose Cambrian Park, Almaden Valley, etc.)
There is also a 4 page printable version with more articles here: http://rereport.com/scc/print/Mary.PopeHandySCC.pdf.

Please contact me for assistance with your particular situation & area.