Polaris Pacific: Silicon Valley Condominium Market

Silicon Valley condominium, San Jose, Polaris Pacific, Menlo Park, condo, Palo Alto, Mountain View, Los Altos, real estate

SV-July-2014 COVER

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During the three-month period ending June 30, the median price in Silicon Valley reached $575,000, a 5.9 percent increase from the prior year. The largest price increases occurred in Districts 3 (Menlo Park, Palo Alto, Mountain View, Los Altos), where prices increased 33.4 percent.

A total of 1,114 homes sold in Silicon Valley in the last three months, a 1.9 percent increase from the prior year.

The average days on market (DOM) figure, or the amount of time between the date a home is listed and the date it goes in escrow was 22 days. Since May 2012, the figure has remained below the 60- day benchmark, a positive sign considering that the average DOM figure was above 60 days from May 2010 to May 2012.

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