Home Prices in Santa Clara County Continued to Appreciate in July

PR Newswire

SAN JOSE, Calif., Aug. 6, 2014 /PRNewswire/ -- The average sale price of a single-family home in Santa Clara County in July was up 6.1 percent and the average condo price was up about 10.6 percent year-over-year, according to MLSListings statistics.

In July the average sale price of single-family homes was $1,126,582, up from $1,057,628 in July 2013. Meanwhile the average sale price for condos was $586,212, up from $524,090 a year before.  

"The fact that home prices in Santa Clara County continue to appreciate year-over-year is a good sign," said Myron Von Raesfeld, President of the Santa Clara County Association of REALTORS®. "It shows that our local market is getting healthier and that it has begun to recover from the recession. Housing markets in many other areas of the country have not experienced the same resilience that we have."

Single-family homes were on the market for an average of 24 days in July, down from 26 days in July 2013. Condos were on the market for 23 days, up from 19 days a year earlier.

Sellers of single-family homes received 104.08 percent of their asking prices in July while sellers of condos received 104.41 percent.

There were 1,299 new listings for single-family homes in July, down from 1,514 a year earlier. Meanwhile, new listings for condos stood at 557, down from 612 in July 2013.

Inventory for single-family homes in July was 1,895, down from 2,111 a year earlier. By comparison, inventory for condos was 649, down from 771 in July 2013.

About the Santa Clara County Association of REALTORS®

SCCAOR, established in 1896, is California's oldest and Northern California's largest real estate association. We represent about 10,000 REALTORS® and affiliate members. SCCAOR exists to meet the business, professional and political needs of its members and to promote, protect homeownership and private property rights.

Contact: Alison Martinsen
Phone: 408.445.5080
Fax: 408.445.7767
alison@sccaor.com
www.sccaor.com

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