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Home Prices in Santa Clara County Rose 14 percent Year-Over-Year in January

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SOURCE Santa Clara County Association of REALTORS

SAN JOSE, Calif., Feb. 10, 2014 /PRNewswire/ -- The average price of single-family homes in Santa Clara County was up 14 percent and the average condo price also was up 14 percent year-over-year in January, according to MLSListings statistics.

In January, the average sale price for single-family homes was $959,990, up from $825,355 in January 2013. Meanwhile, the average sale price for condos was $537,154 up from $461,700 a year before.

"Another month of year-over-year increases in home prices is great news for people who want to sell their home this winter," commented Myron Von Raesfeld, President of the Santa Clara County Association of REALTORS®. "The housing market in Santa Clara County continues to rebound."

Single-family homes were on the market for an average of 43 days in January, down from 50 days for the same month in 2013. Condos were on the market for an average of 33 days, compared to 35 days in January 2013.

Sellers of single- family homes in January received 102.76 percent of their asking prices while sellers of condos received 102.03 percent.

New listings in January for single-family homes stood at 801, down from 820 in January 2013, while new listings for condos was 341, unchanged from January 2013. Inventory for single-family homes was 1,083, down from 1,179 in January 2013. Meanwhile, inventory for condos was 378, down from 385 in January 2013.

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.

Contact: Alison Martinsen
Phone: 408.445.5080
Fax: 408.445.7767

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