Home Owners in Santa Clara County Continued to Gain Equity in April

SAN JOSE, Calif., May 7, 2014 /PRNewswire/ -- The average sale price of a single-family home in Santa Clara County in April was up 12.1 percent and the average condo price was up 8.4 percent year-over-year, according to MLSListings statistics.

In April the average sale price of single-family homes was $1,174,659, up from $1,032,483 in April 2013. Meanwhile the average sale price for condos was $592,816 up from $542,724 a year before.  

"Home owners in our area continue to gain equity in their homes," commented Myron Von Raesfeld, President of the Santa Clara County Association of REALTORS®. "We expect home sales to be strong this spring as consumers, realizing their homes are worth more, decide now is a great time to sell."

Single-family homes were on the market for an average of 25 days in April, down from 26 days in April 2013.  Condos were on the market for an average of 23 days, up from 19 days a year earlier.

Sellers of single-family homes received 106.37 percent of their asking prices in April while sellers of condos received 106.30 percent.

There were 1,377 new listings for single-family homes in April, unchanged from a year earlier. Meanwhile, new listings for condos stood at 563, up from 507 in April 2013.

Inventory for single-family homes in April was 1,591, up from 1,525 a year earlier. By comparison, inventory for condos was 527, up from 473 in April 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
[email protected]
www.sccaor.com

SOURCE Santa Clara County Association of REALTORS

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