Increase in Million Dollar Home Sales Decrease in Median Price
June 13th, 2010
Sales of Million Dollar homes have increased last month from 148 sales in May of 2009 to 251 homes for May of 2010. Could this be due to the fact that the Median price of sales was down during the same time period at $1.3M in May of 2010 from $1.41M in May 2009. This is a change of 8% from last year. Lower the prices of the top tier homes and more buyers will be looking for the move-up option.
There still some issue with the selling of the highest end homes in Silicon Valley as the downtown SanJoseHighRises still have $1.M + penthouses available. These homes in the sky make up the best of downtown living with views that can not be found anywhere else in the Valley. When your ready to make an offer on a High Rise Penthouse make sure you have a professional to represent your interests and not just that of the developer.
Highest Price Silicon Valley house sold last month for $5.95M in Los Altos, CA.
July 22nd, 2010 at 12:10 pm
There was an increase in million dollar home sales in Silicon Valley last month as they rose to their highest levels in two years. According to our numbers, 266 homes sold for at least $1 million in June, up 6% from May and up 25% from June of 2009.
Despite the uptick in sales, median prices remained flat compared to May at just over $1.3 million. Coldwell Banker adds that home sellers are getting some welcome news: 99% on average are getting a higher percentage of their asking compared to 93% a year ago.
San Jose had the most sales with 54, while Palo Alto had the most expensive house sold at $7.3 million.