Good News & More Good News
Filed under Blog · Tagged: Closed Transactions, Employee Relocation, Home Prices, Housing Choices, Los Altos, Quality of Life, Real Estate Marketing
Good News #1 … 2010 is shaping up to be a banner year for real estate in Los Altos. Comparing the first six months of 2009 with the same time period for 2010, there were 58% more homes sold. Additionally, we saw an increase in the sales prices of comparative homes year-over-year.
Interestingly, however, the average “days on market” for a home has increased to 87 days. That is a significant increase for homes which last year were sold in less than 60 days. So, what gives?
Clearly, lenders are taking a slightly longer to work through the average transaction. But it’s still feasible to close a transaction in 30-45 days. Anticipating market demand, for any one home, is still an imperfect science. However, we have been seeing well priced homes snapped up without dely.
Good News #2 … our last two listing sold in less than a week, and we are confident we can achieve similar results for you. How did we do it? We put together an effective plan, executed on that plan in partnership with our clients, and developed an outreach campaign to attract the maximum number of agents and interested buyers.
In all, over 230 Real Estate Agents stop by these two homes on Broker Tour when they first came on the market, in sequential weeks. Buyer traffic through the properties was consistent from the time 465 Benvenue Ave & 595 Los Altos Ave hit the market. An average of 270 potential buyers visited each home through open house, while even more buyers came by via private showings.
So, the market remains strong, but inventory is relatively low. There are a number of buyers looking to move into Los Altos, but they are strategically examining the available options. With a strong real estate team in place, a seller or buyer could have a tactical advantage, if they utilize the right tools for today’s market.
If you are looking to move into Los Altos, or simply move across town, we are confident that we can help you. Call us today at 650-823-1434. We would love the opportunity to earn your business.
Top 10 Home Sales in Los Altos for 2009
Filed under Blog · Tagged: Closed Transactions, Employee Relocation, Los Altos, Quality of Life
It is always good to examine where the high-end of our local market has been, to gage the potential price elasticity of market moving forward. Over the past year, the average home in this market sold at a 13% discount off it’s original list price. Here is a summary of the Top 10 Home Sales within Los Altos for 2009 …
#1 … 187 Garland Way
4 Bedrooms in 3,979 sq ft
Listed at $4,150,000
Sold for $3,600,000
When: July 29
Time on Market: 6 months
#2 … 685 Jay Street
4 Bedrooms in 5,441 sq ft
Listed at $3,949,000
Sold for $3,400,000
When: August 28
Time on Market: 3 months
#3 … 1476 Fairway Drive
5 Bedrooms in 4,244 sq ft
Listed at $3,798,000
Sold for $3,300,000
When: December 29
Time on Market: 11 months
#4 … 881 Laverne Way
5 Bedrooms in 4,900 sq ft
Listed at $3,995,000
Sold for $3,250,000
When: May 27
Time on Market: 10 months
#5 … 1520 Montebello Oaks Ct
5 Bedrooms in 5,400 sq ft
Listed at $3,495,000
Sold for $3,195,000
When: July 7
Time on Market: 5 months
#6 … 38 North Avalon Drive
5 Bedrooms in 3,950 sq ft
Listed at $3,498,000
Sold for $3,000,000
When: March 3
Time on Market: 5 months
#7 … 966 Manor Way
6 Bedrooms in 3,770 sq ft
Listed at $3,595,000
Sold for $2,960,000
When: July 29
Time on Market: 2 months
#8 … 316 Sunkist Lane
4 Bedrooms in 3,600 sq ft
Listed at $2,980,000
Sold for $2,895,000
When: January 30
Time on Market: 3 months
#9 … 790 Arroyo Road
5 Bedrooms in 4,000 sq ft
Listed at $3,390,000
Sold for $2,850,000
When: October 2
Time on Market: 4 months
#10 … 710 Loyola Drive
5 Bedrooms in 4,700 sq ft
Listed at $3,250,000
Sold for $2,850,000
When: September 9
Time on Market: 8 months
2009 Housing Trends for Los Altos & nearby cities
Filed under Blog · Tagged: Closed Transactions, Current Market, Housing, Inventory, Pending Sales
As we examine the most recent statistics regarding year-over-year trends, the market is beginning to strike a decent balance, at least for May 2009. There are opportunities still out there for buyers, and yet properties are selling at a good clip for the sellers that are not unrealistic about pricing. In short, we have a good equilibrium occurring, without a clear advantage for either buyers and or sellers in the current overall environment.
Below, we have included four charts that highlight: 1) Recent Inventory; 2) Pending Sales; 3) Closed Transactions for May; and finally, 4) A comparison of year-to-date, through May 2009, of homes that have closed escrow.
As of May 2009, overall Closings were up 25% and Sales were up 70% for the west side of Santa Clara County compared to May of 2008. After a slow start to the New Year, Los Altos continues to see a ramping up of homes going into contract; however, we remain roughly 50% behind our 2008 YTD volume. The good news is that we have sufficient inventory of available homes, as we head into the summer months.
About Us
Moving into Los Altos? We can help! We have lived in Los Altos for the past 35 years and love helping people buy and sell homes in this great city! We bring experience, knowledge, skills and professionalism to each of our client relationships. Our clients will agree they would not have had the same positive experience, at each step of the way, if they had not had us represent them.
David Casas Cell: 650-823-8920 or Email
(DRE#01116954)
Carol Casas Cell: 650-823-1434 or Email
(DRE#01123855)
