... More Perspective on the Market - Silicon Valley...

Following up on my previous blog of last year, entitled "Some Perspective on the Silicon Valley Market", I updated the graphs for this year for both the County of Santa Clara and the County of San Mateo, to reflect again pretty much the same story of rising prices as the year advances.

The comparison between last year and this year is also fairly similar, in that prices are slightly higher this year than last year, as an average.

When looking at some specific Cities though we do know that some areas are much higher this year than last year.  This will be coming in my next blog(s).

This set of figures begs for the question: "what's the story of: both houses and condominiums, combined"?
This is shown below:

... not very different, in fact.

Curious about your area?  Do let me know and I will study it for you.
Thank you,
Francis

Silicon Valley Real Estate

Local market trends

useful links

Current Mortgage rates

Some perspective on the Silicon Valley market....

Some recent headlines turned heads and generated a lot of questions among my clients recently, headlines such as: “Case-Schiller Down 5.1%; What Will Stop It?” and “The Depressing State of Housing”.

What is really going on in the Valley? I find that chosen graphs speak much better than headlines. Comparison of the first 5 months of last year, with the same months this year, for the Counties of Santa Clara and San Mateo:

This graph shows roughly the same movement as last year. If anything, it shows a better situation, since we do not have in 2011 the government incentives for 1st time homebuyers that we had in 2010 (Calif. 1st time homebuyers credits, and federal incentives). These created last year a rush to buy before June, which does not exist in 2011.

Comparison charts for Sunnyvale and Mountain View:

Comparison charts for Los Altos and Palo Alto:

Average prices can vary  a lot from month to month.  These charts just show that overall the market is fairly the same as last year, at the very least.
Thanks for reading!
Francis

Mortgage rates: Week ending 6/23/2011:  - 30-yr. fixed: 4.50 fees/points: 0.8%   - 15-yr. fixed: 3.69 fees/points: 0.7%    -  1-yr. adjustable: 2.99% Fees/points: 0.5%  (Source: Freddie Mac)

Silicon Valley real estate resource
Real estate links of interest