Stunning Home in Campbell
Filed under Sold Properties · Tagged: Employee Relocation, Home Prices, Housing Choices, Inventory, Real Estate Marketing
1374 ROBNICK COURT, CAMPBELL, CA 95008
Listed at $1,299,000 / Sold at $1,275,000
5 Beds / 3.5 Baths / 4,004 sqft
Single Family Detached
Represented: Buyer
Fantastic Mountain View Property
Filed under Sold Properties · Tagged: Employee Relocation, Housing Choices, Inventory, Quality of Life, Real Estate Marketing
350 FLOWER LANE, MOUNTAIN VIEW, CA 94043
Listed at $699,000 / Sold at $712,000
3 Beds / 2.5 Baths / 1,625 sqft
Townhouse
Represented: Buyer
Mediterranean Home Near County Club
Filed under Sold Properties · Tagged: Employee Relocation, Home Prices, Inventory, Real Estate Marketing
655 GREENVIEW PLACE, LOS ALTOS, CA 94024
Listed at $2,195,000 / Sold at $2,253,000
4 Beds / 3.5 Baths / 3190 sqft
Single Family Detached
Represented: Buyer
A Classic Colonial Property
Filed under Sold Properties · Tagged: Employee Relocation, Home Prices, Inventory, Real Estate Marketing
1723 MILTON STREET, REDWOOD CITY, CA 94061
Listed at $1,195,000 / Sold at $1,160,000
4 Beds / 2.5 Baths / 2460 sqft
Single Family Detached
Represented: Buyer
Incredible Home & Great Location
Filed under Sold Properties · Tagged: Employee Relocation, Home Prices, Inventory, Real Estate Marketing
20433 WALNUT, SARATOGA, CA 95070
Listed at $1,828,000 / Sold at $1,770,000
4 Beds / 3.5 Baths / 2430 sqft
Single Family Detached
Represented: Buyer
Los Altos Real Estate – Trending Up
Filed under Blog · Tagged: Home Prices, Housing, Inventory, Los Altos
Just like the teams heading to the World Series, the Los Altos market is in full swing. In September alone, there were 38% more homes sold this year, than last. Currently, there are only 86 homes on the market today. With over 10,700 homes in the community, inventory is at its lowest point since February. Locally, only a handful of buyers appear to be sitting on the fence. Buyers are clearly snapping up well priced homes just days after they hit the market. More importantly, we are seeing a continued trend of homes selling with multiple offers.
In June, I wrote that … “we have a good equilibrium occurring, without a clear advantage for either buyers and or sellers in the current overall environment.” This is no longer the case for Los Altos. Sellers, who are realistic in their pricing, find themselves in the driver’s seat, selecting the best offer from a number of buyers.
However, in an adjacent community, buyers have the advantage. At the current pace of homes actually selling in the next community over, it would take 9 months to sell every home on the market. Compare that to Los Altos, where it would only take 3 months to work through the current inventory. My, how times have changed. Just this past April, it would have taken both communities a full year to clear their inventory. While both communities have a great deal in common, the Los Altos market has attracted an ever increasing number of buyers wanting to move into town.
Contrast Los Altos with the roller coaster year real estate has had on a national level. From the doom and gloom of our national news organizations, you would have thought the entire Country had realized a 50% decrease in home values. Clearly, while there were significant impacts across the land, the bottom did not drop out of the Los Altos market.
Of course, it is always important to examine the microclimates of real estate before buying or selling. Even on a regional basis, there are traditionally hazardous areas to avoid. In California, the Central Valley, the LA basin, and many of the outlying suburban areas realized a significant decrease. Just as reported in the national media. However, in northern California, more specifically the San Francisco Bay Area, there were communities which had only nominal impacts. Los Altos was one of them.
Going forward, as the economy continues its rebound and nearby companies begin to once again build upon their current workforce (e.g. Google’s CEO, Eric Schmidt recently announced “We’re hiring again.”), we should see a return to a consistent near-term upward trajectory on housing prices for Los Altos. Our market has fortunately avoided many of the structural challenges facing other communities across the nation.
In reviewing our local housing trends and real estate market indicators, it appears we are picking up speed as we head towards December. Strap in, it is bound to be an interesting ride as we swing into 2010.
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)
