Per Jimmy’s request:
Market condition in San Jose - 9/18/2008
This mainly keeps track of the entry level SFR in San Jose
Inventory: min. 3 bedroom / 1 bath with 1000 sq ft and above
| Zipcode | max. price | active | pending | inventory level (months) |
|
95111 |
<$400,000 |
123 |
81 |
14.19 |
|
95116 |
<$400,000 |
93 |
40 |
14.68 |
|
95122 |
<$400,000 |
203 |
111 |
13.84 |
|
95127 |
<$400,000 |
136 |
79 |
14.07 |
Categories: Market Data
This mainly keeps track of the entry level SFR in San Mateo
Inventory: min. 3 bedroom / 1 bath with 1000 sq ft and above, under $700k
Sale data in the last 3 months in San Mateo as of 09/17/2008
| Month | no. of sale | min. price | max. price | avg. pr/sq ft |
|
Sep-07 |
2 |
$625,000 |
$690,000 |
$565.67 |
|
Oct-07 |
6 |
$570,000 |
$650,000 |
$536.55 |
|
Nov-07 |
5 |
$545,000 |
$680,000 |
$546.77 |
|
Dec-07 |
3 |
$588,000 |
$700,000 |
$491.11 |
|
Jan-08 |
4 |
$615,000 |
$690,000 |
$414.33 |
|
Feb-08 |
3 |
$548,500 |
$650,000 |
$417.93 |
|
Mar-08 |
14 |
$492,000 |
$700,000 |
$514.75 |
|
Apr-08 |
13 |
$450,000 |
$693,000 |
$463.70 |
|
May-08 |
12 |
$505,000 |
$675,000 |
$442.10 |
|
Jun-08 |
14 |
$458,000 |
$665,000 |
$461.74 |
The majority of the entry level inventory are located on the east side of 101. The number of sales has increated since March, 2008. The average price / sq ft value is trending down, the lowest sale price is fluctuating.
Categories: Market Data · San Mateo
Market condition in Bay Area – 9/16/2008
This mainly keeps track of the entry level SFR in selected cities
Inventory: min. 3 bedroom / 1 bath with 1000 sq ft and above
| max. price | Active | Pending | Inventory Level (months) |
|
| Belmont | < $1,000,000 |
18 |
9 |
3.18 |
| Burlingame | < $1,250,000 |
6 |
6 |
1.64 |
| Campbell | < $750,000 |
28 |
38 |
4.94 |
| Daly City | < $550,000 |
54 |
41 |
3.52 |
| East Palo Alto | < $360,000 |
32 |
37 |
5.05 |
| Foster City | < $1,000,000 |
5 |
6 |
3.75 |
| Los Gatos | < $1,000,000 |
21 |
7 |
9.00 |
| Millbrae | < $1,150,000 |
25 |
10 |
5.00 |
| Milpitas | < $550,000 |
61 |
39 |
9.63 |
| Mountain View | < $900,000 |
17 |
11 |
4.25 |
| Pacifica | < $580,000 |
13 |
21 |
3.90 |
| Palo Alto | < $1,200,000 |
8 |
6 |
4.80 |
| Redwood City | < $600,000 |
25 |
6 |
10.71 |
| Redwood Shores | < $1,150,000 |
3 |
4 |
0.82 |
| San Carlos | < $1,200,000 |
23 |
18 |
2.38 |
| San Mateo | < $700,000 |
45 |
33 |
6.75 |
| San Jose | < $400,000 |
611 |
359 |
13.68 |
| Santa Clara | < $650,000 |
89 |
48 |
8.61 |
| South San Francisco | < $600,000 |
32 |
30 |
5.33 |
| Sunnyvale | < $750,000 |
60 |
47 |
7.20 |
Categories: Market Data
|
month |
no. of closing |
avg. price |
avg. pr/sq ft |
min. price |
max. price |
|
Dec-07 |
2 |
$392,000 |
$373 |
$389,000 |
$395,000 |
|
Jan-08 |
7 |
$379,008 |
$320 |
$335,000 |
$400,000 |
|
Feb-08 |
19 |
$379,949 |
$319 |
$340,000 |
$400,000 |
|
Mar-08 |
21 |
$363,500 |
$298 |
$305,000 |
$400,000 |
|
Apr-08 |
38 |
$363,273 |
$313 |
$276,000 |
$400,000 |
|
May-08 |
59 |
$368,512 |
$295 |
$249,900 |
$400,000 |
|
Jun-08 |
57 |
$358,719 |
$301 |
$249,900 |
$400,000 |
This is to keep track the entry level SFR in San Jose area: min. 3 bedroom / 1 bath with 1000 sq ft and above. < $400,000
You can see from the data that the lenders let the flood gate open in May 2008. The number of closing increased drastically from 38 in April to 59 in May. The average price is also trending down gradually, however the average price / sq feet should be a more accurate reading. I want to point out that there is a supporting level at $300,000, the price / sq feet number indicates that. For the month of Apr, May and June, the lowest price SFR sold were all under $300,000, those properties are either very beat up or has fire damaged, which require lots of work, if those transactions are removed, the lowest price is very close to $300,000.
Any properties in decent conditions listed under $300,000 in San Jose always get multiple offers.
* There are 15 transactions under $300,000 from Dec 2007 to Aug 2008, the July and Aug data in the table are missing since there are still pending transactions in those months, those will be shown in up coming post.
Categories: Market Data
Market condition in Bay Area – 8/20/2008
This mainly keeps track of the entry level SFR in selected cities
Inventory: min. 3 bedroom / 1 bath with 1000 sq ft and above
| max. price | Active | Pending | Inventory Level (months) |
|
| Belmont | < $1,000,000 |
18 |
7 |
1.93 |
| Burlingame | < $1,250,000 |
9 |
6 |
2.25 |
| Campbell | < $750,000 |
30 |
16 |
6.43 |
| Daly City | < $550,000 |
35 |
39 |
5.25 |
| East Palo Alto | < $360,000 |
33 |
31 |
6.60 |
| Foster City | < $1,000,000 |
7 |
4 |
1.91 |
| Los Gatos | < $1,000,000 |
21 |
6 |
3.50 |
| Millbrae | < $1,150,000 |
18 |
15 |
3.18 |
| Milpitas | < $550,000 |
57 |
38 |
11.40 |
| Mountain View | < $900,000 |
21 |
9 |
5.73 |
| Palo Alto | < $1,200,000 |
9 |
4 |
2.70 |
| Redwood City | < $600,000 |
23 |
6 |
9.86 |
| Redwood Shores | < $1,150,000 |
7 |
7 |
3.50 |
| San Carlos | < $1,200,000 |
17 |
17 |
1.55 |
| San Mateo | < $700,000 |
48 |
32 |
5.33 |
| San Jose | < $400,000 |
598 |
311 |
16.77 |
| Santa Clara | < $650,000 |
96 |
37 |
9.60 |
| South San Francisco | < $600,000 |
37 |
32 |
7.93 |
| Sunnyvale | < $750,000 |
62 |
47 |
7.44 |
Categories: Market Data
