Santa Clara County Luxury Home Sales Climb Again in July, Coldwell Banker Residential Brokerage Reports
Summary
Although they may not be able to get as much for their property as they could have at the peak a year or two ago, larger and more expensive homes have also seen proportionate price declines that could translate into bigger savings for buyers.Some key findings from this month’s Coldwell Banker Residential Brokerage luxury report: The most expensive sale in Santa Clara County in July was an four-bedroom, 5,081-square-foot home in Monte Sereno that sold for $4.25 million; San Jose boasted the most million-dollar sales in July with 50, followed by Palo Alto with 40, and Los Altos with 36; It took an average of just 53 days to sell a million-dollar home in the county, the same as June and up from just 36 days a year ago; Homes sold for an average of 94 percent of their asking price, up from 93 percent the previous month but down from 98 percent a year ago.The $1.29 million median sale price last month was down just 2 percent from June and 6 percent from July 2008.“Although we still have a ways to go, it’s encouraging to see that sales in the upper end of the South Bay market continue to improve and that prices are firming up as well,” said Rick Turley, president of Coldwell Banker Residential Brokerage in the Bay Area.The figures were derived from Multiple Listing Service data of all homes sold for more than $1 million.Coldwell Banker Residential Brokerage serves Santa Clara County with 21 offices from Palo Alto to Hollister.For more information please visit www.CaliforniaMoves.com or call 925.275.3085.### Contact Information Coldwell Banker Residential Brokerage Stephen Maita 510.739.0620 Click here to view the list of recent Press Releases from Coldwell Banker Residential Brokerage Promote Your Business Press Release Pricing Email this page to a friend