SAN JOSE, Calif., July 25, 2012 – Prices continue to rise in the Santa Clara County housing market, a strong sign that the market is further recovering from the downturn of the previous years.
The average price of single family homes for June increased by 10.27 percent from the same month of last year, jumping from $824,070 to $908,694. The average price of condos rose by 14.70 percent during the same period, from $373,905 to $428,854.
In the meantime, the average number of days on market decreased drastically from a year earlier. In June, it took an average of 39 days to sell a single family home, down from the 59 days in June 2011 and a 33.90 percent drop; it took average of 49 days to sell a condo, down from the 83 days in June 2011 and a 40.96 percent decrease.
“It is a very active market,” said Barbara Lymberis, president of the Santa Clara County Association of REALTORS®. “To take advantage of the market conditions, sellers need to price their properties right while buyers should get pre-approved before they start looking, and be diligent and patient when shopping around.”
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.