Category Archives: Market Data

Unemployment data – June, 2009

Unemployment data for the 9 counties in the Bay Area

County Unemployment rate (June 2009 ) Unemployment rate
(2002 Annual Average)
Alameda 11.40% 6.70%
Contra Costa 10.70% 5.70%
Marin 8.00% 4.90%
Napa 8.80% 4.60%
San Francisco 9.80% 6.90%
San Mateo 8.90% 5.70%
Santa Clara 11.80% 8.40%
Solano 11.30% 5.80%
Sonoma 10.20% 5.10%

Data source: California Employment Development Department

The statewide unemployment rate is 11.6%.

The above data is not seasonally adjusted. 

* To check out the latest bank owned / REO listings in the Bay Area, go to
www.Peninsula-REO.com

Unemployment data – Mar, 2009

Unemployment data for the 9 counties in the Bay Area

County Unemployment rate
(Mar 2009 )
Unemployment rate
(2002 Annual Average)
Alameda 10.50% 6.70%
Contra Costa 9.80% 5.70%
Marin 7.40% 4.90%
Napa 9.00% 4.60%
San Francisco 8.30% 6.90%
San Mateo 9.00% 5.70%
Santa Clara 10.80% 8.40%
Solano 10.90% 5.80%
Sonoma 9.80% 5.10%

Data source: California Employment Development Department

The statewide unemployment rate is 11.5%.

The above data is not seasonally adjusted.

Unemployment rate in March, 2009 is higher than Feb, 2009.

* To check out the latest bank owned / REO listings in the Bay Area, go to
www.Peninsula-REO.com

Unemployment data – Feb, 2009

County Unemployment rate
(Feb 2009 )
Unemployment rate
(2002 Annual Average)
Alameda 9.70% 6.70%
Contra Costa 9.30% 5.70%
Marin 6.80% 4.90%
Napa 8.50% 4.60%
San Francisco 8.30% 6.90%
San Mateo 7.60% 5.70%
Santa Clara 9.90% 8.40%
Solano 10.40% 5.80%
Sonoma 9.10% 5.10%

Data source: California Employment Development Department

The statewide unemployment rate is 10.9%.

The above data is not seasonally adjusted.

There is no doubt that the job market is worst than the dot.com bust era.

* To check out the latest bank owned / REO listings in the Bay Area, go to
www.Peninsula-REO.com

Market condition in Bay Area – 03/19/2009

Market condition in Bay Area – 03/19/2009

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

25

15

7.50

Burlingame < $1,250,000

16

5

12.00

Campbell < $750,000

28

17

5.25

Daly City < $550,000

46

56

4.06

East Palo Alto < $360,000

46

33

9.86

Foster City < $1,000,000

11

1

11.00

Los Gatos < $1,000,000

32

9

12.00

Millbrae < $1,150,000

57

60

6.11

Milpitas < $550,000

21

2

10.50

Mountain View < $900,000

34

12

34.00

Pacifica < $580,000

28

24

6.46

Palo Alto < $1,200,000

12

10

5.14

Redwood City < $600,000

21

13

7.00

Redwood Shores < $1,150,000

8

3

8.00

San Carlos < $1,200,000

41

13

8.79

San Mateo < $700,000

28

31

9.33

San Jose < $400,000

690

582

8.81

Santa Clara < $650,000

79

46

9.12

South San Francisco < $600,000

35

32

4.77

Sunnyvale < $750,000

62

44

7.15

There is an increase in listings and the inventory level is up in Burlingame, Foster City, Mountain View, San Carlos.  The nicer areas in the Bay Area are feeling the ripple effect from the poor economy.  I guess some people making good money in those area got laid off and they are in a rush to sell their houses and that’s why there is a jump in the listings in the areas.

To check out the latest Bank Owned Properties / REO in the area, go to 
www.Peninsula-REO.com

Unemployment data – Nov, 2008

County Unemployment rate
(Nov 2008 )
Unemployment rate
(2002 Annual Average)
Alameda 7.30% 6.70%
Contra Costa 7.10% 5.70%
Marin 5.00% 4.90%
Napa 6.50% 4.60%
San Francisco 6.10% 6.90%
San Mateo 5.50% 5.70%
Santa Clara 7.10% 8.40%
Solano 7.90% 5.80%
Sonoma 6.50% 5.10%

Data source: California Employment Development Department

The statewide unemployment rate is 8.3%.

Unemployment data – Oct, 2008

County Unemployment rate
(Oct 2008 )
Unemployment rate
(2002 Annual Average)
Alameda

7.10%

6.70%

Contra Costa

7.00%

5.70%

Marin

4.90%

4.90%

Napa

5.40%

4.60%

San Francisco

6.00%

6.90%

San Mateo

5.40%

5.70%

Santa Clara

6.90%

8.40%

Solano

7.70%

5.80%

Sonoma

6.20%

5.10%

Data source: California Employment Development Department

The statewide unemployment rate is 8.0%.

Market condition in Bay Area – 11/18/2008

Market condition in Bay Area – 10/19/2008

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

28

9

3.86

Burlingame

< $1,250,000

9

6

3.86

Campbell

< $750,000

34

15

17.00

Daly City

< $550,000

62

44

5.31

East Palo Alto

< $360,000

30

41

5.63

Foster City

< $1,000,000

5

3

2.14

Los Gatos

< $1,000,000

31

7

9.30

Millbrae

< $1,150,000

15

8

4.50

Milpitas

< $550,000

70

38

11.05

Mountain View

< $900,000

18

6

4.50

Pacifica

< $580,000

21

11

4.20

Palo Alto

< $1,200,000

8

10

3.00

Redwood City

< $600,000

28

8

12.00

Redwood Shores

< $1,150,000

7

1

7.00

San Carlos

< $1,200,000

25

11

3.13

San Mateo

< $700,000

51

32

5.88

San Jose

< $400,000

639

431

9.54

Santa Clara

< $650,000

84

45

5.73

South San Francisco

< $600,000

45

25

6.14

Sunnyvale

< $750,000

71

33

7.89

Market condition in Bay Area – 10/19/2008

Market condition in Bay Area – 10/19/2008

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

25

10

4.15

Burlingame < $1,250,000

9

5

4.50

Campbell < $750,000

40

9

10.00

Daly City < $550,000

63

50

7.56

East Palo Alto < $360,000

24

43

4.00

Foster City < $1,000,000

9

4

5.40

Los Gatos < $1,000,000

28

7

10.50

Millbrae < $1,150,000

55

43

7.86

Milpitas < $550,000

24

13

5.54

Mountain View < $900,000

17

9

4.64

Pacifica < $580,000

19

14

3.56

Palo Alto < $1,200,000

10

3

3.00

Redwood City < $600,000

24

8

36.00

Redwood Shores < $1,150,000

5

0

1.67

San Carlos < $1,200,000

19

17

2.28

San Mateo < $700,000

51

30

6.65

San Jose < $400,000

611

403

10.18

Santa Clara < $650,000

92

48

7.89

South San Francisco < $600,000

39

26

4.50

Sunnyvale < $750,000

69

27

6.68

Unemployment data – 09/28/2008

County Unemployment rate
(Aug 2008)
Unemployment rate
(2002 Annual Average)
Alameda

6.90%

6.70%

Contra Costa

6.70%

5.70%

Marin

4.90%

4.90%

Napa

5.30%

4.60%

San Francisco

5.90%

6.90%

San Mateo

5.20%

5.70%

Santa Clara

6.50%

8.40%

Solano

7.40%

5.80%

Sonoma

6.10%

5.10%

Data source: California Employment Development Department

The statewide unemployment rate is 7.6%.  Comparing the data in Santa Clara, San Mateo and San Francisco between now and 2002, the current condition is better than the dot.com crash.  I believe one of the reason is that tech firms are thriving; social netowrking companies are doing good, green energy and bio-tech are still creating job opportunity in the Bay Area.

Belmont recent sale data and analysis 09/18/2008

This mainly keeps track of the entry level SFR in Belmont

Inventory: min. 3 bedroom / 1 bath with 1000 sq ft and above, under $1M

Sale data in the last 3 months in Belmont as of 09/18/2008

Sale data in the last 3 months in Belmont as of 09/18/2008

Sale Date

no. of sale

min. price

max. price

avg. pr/sq ft

Sept-07

5

$705,000

$980,000

$528.82

Oct-07

9

$650,000

$932,000

$604.76

Nov-07

4

$710,000

$865,000

$648.68

Dec-07

4

$707,000

$855,000

$619.09

Jan-08

2

$615,000

$725,000

$551.05

Feb-08

5

$910,000

$969,000

$602.98

Mar-08

16

$610,000

$1,000,000

$551.50

Apr-08

6

$590,000

$1,000,000

$471.82

May-08

11

$599,888

$979,000

$549.85

Jun-08

16

$660,000

$955,000

$578.79

The Belmont market has become active since March 2008.  The inventory level remains low, please check out Market Condition in Bay Area – 9/16/2008.  Overall residents in Belmont are wealthy, not much short sale or REO listings.  People in Belmont can wait till the market come back, they are not in a rush to sell, so the price doesn’t go down by that much.  The average price / sq ft is fluctuating.