The median sales price in Los Altos now tops $2 million.
The housing market continues to heat up in the Silicon Valley.Home prices rose again in April as did the number of building permits being issued by cities. In addition, foreclosures are on the decline.
The website?DataQuick reports the median price?for all types of dwellings in the Bay Area was above $500,000 for the first time since 2008. That?s a 17 percent increase since March and a 30 percent hike from a year ago.
In Santa Clara?County, the median sale price is now $645,000, a 25.6 percent increase from April 2012.
In Los Altos, the median sales price in March?was $2.260 million for zip code 94022, a 42.1?percent increase from March 2012. The median sales price in zip code 94024 was $2.069 million, a 6 percent increase from a year ago.
Due to a lack of inventory, home sales, that is, the number of homes sold?have declined ?slightly?0.6 percent?in the nine-county Bay Area. In Santa Clara County, the decline was 4 percent.?
In Los Altos, there were 44 homes sold in March, a decrease of one-third?from March 2012.
Meanwhile,?RealtyTrac?reports?the number of single-family building permits nationwide increased 27 percent in the first quarter of 2013?to the highest level since 2008.
At the same, the number of foreclosure starts nationwide declined 27 percent to their lowest level since 2006.
In fact, the number of building permits issued and foreclosure starts were roughly the same for the first time since 2007.
In Los Altos, seven building permits was issued during the first three months of this year, compared to 11 during the same?time period last year. There were zero foreclosure starts, compared to 11 in the first quarter of 2012.
Become a blogger today!
Get started now
Source: http://losaltos.patch.com/groups/real-estate/p/los-altos-home-prices-up-foreclosures-drop-to-zero
uk vs louisville university of kansas buckeye west side story final four 2012 bridesmaids winning lottery numbers
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.