Current market in Los Altos (Silicon Valley) 2-11

The number of homes over a million dollars dropped a bit in December 2010, but the median sale price of luxury properties inched higher, according to Coldwell Banker Residential Brokerage.
A total of 158 homes sold for more than $1 million in Santa Clara County in Dec., down 8.1 % from Dec. 09. However, the median sale price of million-dollar properties rose to $1.35 million, up 2.5 % from the previous month and 3.6 % from the year before.

Los Altos had the highest number of luxury sales in the county at 35, up from 30 a year ago, and the most expensive sale last month at $3.61 million.

Two other key market indicators were higher as well in December: the “days on average” of million-dollar properties (on the market until they were under contract) came down, and sellers received 97% of their asking price, up from 93 % last year.

Some other titbits from the Coldwell Banker luxury report:

- The most expensive sale in Santa Clara County in Dec. was in Los Altos for $3.6 million

- Los Altos boasted the most million-dollar sales with 35, then San Jose: 30, Palo Alto: 29, Los Gatos: 18, Cupertino: 16. – this is the Silicon Valley…
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