We analyze several housing market indicators in order to present an in-depth breakdown of Santa Clara Homes Market comparing February 2009 to February 2010.
Summary of Key Points
Santa Clara Homes for Sale has started showing significant signs of improvement with median sales price climbing up while at the same time houses are selling faster.Selers received full asking price as compared to 99% last year.
Key Statistics, Santa Clara, CA: Median Sales Price (14.42%), Median Days on Market (-65.50%), and Number of Units Sold (-2.27%), Sales Price to List Price Ratio (Feb 09 99% – Feb 10 100%)
Santa Clara Homes
The city of Santa Clara experienced a 14.42% increase in median sales price from last year going up from $504,845 (Feb. 09) to $577,631 (Feb. 2010). Median days on market data for Santa Clara shows that houses are selling faster than Feb 09. It took 110 days in Feb 09 for a house to sell and for Feb 10 that number has gone down to 38 days (a 65.50% improvement). Another important factor to consider is total number of units sold. In the month of Feb 09, 44 units were sold compared to 43 for Feb 10 (-2.27% change). Lastly we are going to take a look at the Sales Price to List Price Ratio for Santa Clara. SP/LP ratio for Feb 09 was 99% compared to 100% for Feb 10.
Let’s take a brief look at neighbors San Jose and Sunnyvale. San Jose Homes featured a 32.43% increase in median sales price ($400,742 Feb 09 – $530,684 Feb 10) and Sunnyvale Homes saw a 14.81% increase ($613,556 Feb 09 – $704,427 Feb 10). Are houses in San Jose and Sunnyvale selling faster or slower this year? Well, San Jose experienced a 43.38% decrease (104 to 59 days) in median days on market and Sunnyvale a 50.52% decrease (79 to 39 days). In the units sold category, San Jose sold 186 units less (-28.93%) in Feb 2010 than 09 and Sunnyvale sold 10 units less (-21.28%) in Feb 2010 than Feb 09.
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