Median Home Prices and Sales in the Peninsula
by Alex Wang on Jan 29, 2011 | 4 Comments »
The San Jose Mercury News has a nice breakdown (below) of the median sales price and number of sales for each zip code in the Peninsula (Santa Clara County, San Mateo County, and Santa Cruz County). You can also see the percent change comparing this January to the same period in 2010.
In the Silicon Valley (Santa Clara County) the median sales price for all homes was $460,000, a 2% drop from the same period last year. But looking at resale homes, we saw a 1.9% increase to $529,000. Looking at number of home sales in the area, there were 1,424 sales for all homes, a drop of 10.9% from last year; in resales, 987 sold, which was 5.6% less than last year. We’ll soon see in the spring and summer months of 2011 if it picks back up, when the majority of sellers and buyers are on the market.
Overall, Los Gatos Los Altos zip code 94024 had the highest median sales price of $1,569,000, but Palo Alto/East Palo Alto zip code 94303 had the highest $/SqFt at $883. On the other side of the scale, San Jose zip code 95133 had the lowest median sales price at $230,000, and Gilroy zip code 95020 had the lowest $/SqFt at $195.
Categories: Bay Area Real Estate, Market Updates, santa clara county, Silicon Valley News
One thing to note is that this data comes from last 20 business days for each county. They stats they are using are for the slowest month of business in our area, and may not be reflective of the actual market. Personally, i think it would have been more powerful to do an annual total, which would help mitigate the seasonal variance.
Good point James. Perhaps some of this is for real estate ‘shock value’ more than actual reliable data.
My sister just sold her home at the first open house they had in the bar area. Priced well and in good condition.
Thanks for your informative blog. I am a Pasadena agent and I check into your blog regularly for updates about the Peninsula market. Thanks for keeping me updated, the info you provide is really great.