On June, 9 a real estate information service wrotethat housing sales in such cities as Santa Clara and San Mateo counties were in fact very low for the duration of May, because worried owners and investors went on regulating a market.
MDA Data Quick claimed that February sales stayed far lower historical standards.
So, as for February just about 803 separate homes for a single-family were sold in Santa Clara County, and as a matter of fact it’s four times less than it was in last January. What’s more, this number is in fact fewer than it was in February 2010. As you can see, that’s 22.7 percent lower the standard February sales for the duration of approximately 15 years. As for San Mateo County, just about 290 solo family homes were sold there in May. The equal number of homes was sold in January and 295 homes were sold in February. So, that’s 31.6 percent less the usual February.
As for May in Santa Clara County homeowners sold their housing for the middle price about $495,000, and the same homes were sold for about $510,500 last February. As a matter of fact, there’s a 3 percent fall. What’s more, in such area as San Mateo County, the middle price went down 7.5 percent and it’s about $555,000.
From the other side, in the nine-county Bay Area housing are sold and their prices are the same that last year. Frankly speaking, their price fell down only 0.4 percent from, at the same time as the middle price fell 4.1 percent to $445,000.
Actually, specialists say that if the financial outlook gets better, sales will be higher in summer. In addition, there are owners who sell their housing for less money if it’s a foreclosure resale or short sale.
It was claimed that in Santa Clare Country the number of sold foreclosures and short sales single-family housing was 45.8 percent. As for San Mateo County these numbers were about 38.8 percent.
It’s really the fact that the quantity of distressed sales really depends on the place where it is situated. So, there are more foreclosures in such cities as San Bruno, South San Francisco and Daly City in comparison with for example, the upper end.
As for cash deals their number in February was 28.9 percent in Santa Clara County and 23.8 percent in San Mateo County.
And in addition, the number of absentee buyers in fact has become bigger since 2000 and their amount was about one-fifth in Santa Clara County and 17 percent in San Mateo County.