At the Los Gatos-Saratoga District Virtual Breakfast Meeting this week, C.A.R. President-elect Dave Walsh was upbeat because weekly market stats he has tracked show the market is continuing on an upward pace. Sellers are returning to the market and buyers are even bidding on homes.
Walsh's data
for Santa Clara County shows sales since March have been increasing to an
average of 200 a week. Sales dropped to a mere 99 the week after county
Shelter-in-Place order was imposed.
Walsh said,
"Our REALTORS® are very good at pulling buyers and sellers together no
matter what the situation is, even in a pandemic. Our market is recovering
faster than any other market in the state. We all are fortunate to be in
Silicon Valley."
Many areas
are hot. South County has been "on fire" with its affordable,
expansive housing. Walsh said a reason for this is people are gravitating to
larger open areas, away from cramped units in cities.
Milpitas has
been hot from the start, according to Walsh. Santa Clara, Central San Jose and
Sunnyvale "have never retracted and have stayed unbelievably hot with a
zero slowdown." Santa Clara had 13 sales last week; its 4-week average is
10 sales. Central San Jose had seven sales last week; its 4-week average is
five sales. Comparing last week's sales to their 4-week averages, these cities
have exploded: Sunnyvale 19 sales (avg. 7), Cupertino 13 sales (avg. 7), Los
Gatos 10 sales (avg. 6), Saratoga 8 sales (avg. 3). Positive changes are seen
in Willow Glen, which had 17 sales last week (avg. 7) and Mountain View, 9
sales (avg. 3).
Since Santa
Clara County's March 16 Shelter-in-Place order, 2,369 properties have been put
under contract. Of those properties, 1,968 were priced below $2 million, 122
were priced over $3-7 million, and six properties sold at over $7 million.
Thank you for reading,
Francis
Trends: Local prices and graphs.
A noteworthy local non-profit event: Community Services Agency - in Mountain View
A noteworthy local non-profit event: Community Services Agency - in Mountain View
