Real Estate

Silicon Valley Home Sales Slow Slightly

Despite a slowdown in January, the regional housing market continues to rebound.

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The Silicon Valley housing market lost some of its holiday season robustness in January, though it continues to outpace prices from a year prior, a real estate information service reported.

The median home price rose by nearly one-third in Santa Clara County from January 2012 to January 2013, DataQuick reported. The median home price for the county last month was $550,000, up from $418,000 in January 2012.

It's expected the median home price in Los Altos will increase 8 percent or more this year, a recent study predicted.

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But the sales volume in Santa Clara County dropped in January: 1,115 homes sold in Janary 2013, down from 1,183 a year ago.

Nine homes were sold in Los Altos and seven in Los Altos Hills in January, according to the real estate website Zillow.com.

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Throughout the nine-county Bay Area tracked by DataQuick, home prices and the volume of sales completed in January were the highest in six years and the tenth straight year-over-year increase in the median sale price.

The median price paid for a home in the nine-county Bay Area was $415,000 in January. That was down 6.3 percent from $442,750 in December, and up 27.3 percent from $326,000 in January a year ago, according to DataQuick.

Bay Area Housing Stats for January Sales Volume Meidan Price County Jan 2012 Jan 2013 % Change Jan 2012 Jan 2013 % Change Alameda 1,097 1,196 9% $295,000 $385,000 30.5% Contra Costa 1,115 1,165 4.5% $235,000 $301,500 28.3% Marin 191 181 -5.2% $523,000 $640,000 22.4% Napa 93 108 16.1% $332,500 $380,000 14.3% Santa Clara 1,183 1,115 -5.7% $418,000 $550,000 31.6% San Francisco 308 394 27.9% $602,500 $699,000 16% San Mateo 412 421 2.2% $465,000 $600,500 29.1% Solano 508 523 3.0% $179,500 $219,000 21.8% Sonoma 423 398 -5.9% $285,000 $340,000 19.3% Bay Area 5,330 5,501 3.2% $326,000 $415,000 27.3%

 

 

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