December sales and price report

California Association of Realtors
For release:
Friday, Jan. 22, 2010

C.A.R. reports December home sales increased 1.7 percent; median home price increased 8.4 percent

Multimedia:
· Click here to view Unsold Inventory by price point.
· Click here to view a data table comparing peak prices and current prices in areas throughout the
state.


Quick Facts:
· Existing, single-family home sales increased 4 percent in December to a seasonally adjusted rate of
558,320 units on an annualized basis.

· The statewide median price of an existing single-family home increased 0.8 percent in December to
$306,820, compared with November 2009.

· C.A.R.’s Unsold Inventory Index fell to 3.8 months in December, compared with 5.6 months in
December 2008.

LOS ANGELES (Jan. 22) – Home sales increased 1.7 percent in December in California compared with the same period a year ago, while the median price of an existing home rose 8.4 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.

“As expected, the large year-to-year sales gains have diminished substantially compared with earlier in the year,” said C.A.R. President Steve Goddard. “However, home sales in December were strong, and were comparable to sales of late 2008. Activity in December can be attributed in part to the extension and expansion of the home buyer tax credit, as well as near-historic highs in affordability due to current price levels and low interest rates.

“For the second consecutive month, California’s median home price rose year-to-year in December, and had the largest year-to-year increase in more than three years,” said Goddard. “The state’s median price also remained above $300,000 for the second straight month.”

Closed escrow sales of existing, single-family detached homes in California totaled 558,320 in December at a seasonally adjusted annualized rate, according to information collected by C.A.R. from more than 90 local REALTOR® associations statewide. Statewide home resale activity increased 1.7 percent from the revised 549,190 sales pace recorded in December 2008. Sales in December 2009 increased 4 percent compared with the previous month.

The statewide sales figure represents what the total number of homes sold during 2009 would be if sales maintained the December pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

The median price of an existing, single-family detached home in California during December 2009 was $306,820, an 8.4 percent increase from the revised $283,060 median for December 2008, C.A.R. reported. The December 2009 median price rose 0.8 percent compared with November’s $304,520 median price.

“Home sales were unusually strong in December and were more consistent with peak season trends,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. “Historically, the median price declines November through February and then rises in March. However, lean inventory, historically low interest rates, and incentives for home buyers have resulted in California’s housing market experiencing non-seasonal variations.

“Looking forward, we expect the state’s median home price to fluctuate around the $300,000 level throughout the first quarter,” said Appleton-Young. “While we expect to experience price gains in the near term, it remains to be seen how the market will fare once the Federal Reserve discontinues its purchase of mortgage-backed securities.”

Highlights of C.A.R.’s resale housing figures for December 2009:

. C.A.R.’s Unsold Inventory Index for existing, single-family detached homes in December 2009 was
3.8 months, compared with 5.6 months (revised) for the same period a year ago. The index indicates
the number of months needed to deplete the supply of homes on the market at the current sales
rate.

. Thirty-year fixed-mortgage interest rates averaged 4.93 percent during December 2009, compared
with 5.29 percent in December 2008, according to Freddie Mac. Adjustable-mortgage interest rates
averaged 4.31 percent in December 2009, compared with 4.97 percent in December 2008.

. The median number of days it took to sell a single-family home was 35.3 days in December 2009,
compared with 46.3 days (revised) for the same period a year ago.

Regional MLS sales and price information are contained in the tables that accompany this press release. Regional sales data are not adjusted to account for seasonal factors that can influence home sales. The MLS median price and sales data for detached homes are generated from a survey of more than 90 associations of REALTORS® throughout the state. MLS median price and sales data for condominiums are based on a survey of more than 60 associations. The median price for both detached homes and condominiums represents closed escrow sales.

In a separate report covering more localized statistics generated by C.A.R. and DataQuick Information Systems, 146 of the 383 cities and communities reporting showed an increase in their respective median home prices from a year ago. DataQuick statistics are based on county records data rather than MLS information. DataQuick Information Systems is a subsidiary of Vancouver-based MacDonald Dettwiler and Associates. (The lists are generated for incorporated cities with a minimum of 30 recorded sales in the month.)

Note: Large changes in local median home prices typically indicate both local home price appreciation, and often, large shifts in the composition of housing market activity. Some of the variations in median home prices for December may be exaggerated due to compositional changes in housing demand. The DataQuick tables listing median home prices in California cities and counties are accessible through car.org at
http://www.car.org/marketdata/historicalprices/2009medianprices/dec2009medianprices/.

. Statewide, the 10 cities with the highest median home prices in California during December 2009 were: Beverly Hills, $1,400,000; Los Altos, $1,340,000; Laguna Beach, $1,230,000; Manhattan Beach, $1,165,000; Palos Verdes Estates, $1,160,000; Palo Alto, $1,066,000; Los Gatos, $994,500; Newport Beach, $938,500; Rancho Palos Verdes, $900,000; and Santa Monica, $852,500.

. Statewide, the cities with the greatest median home price increases in December 2009 compared with the same period a year ago were: Laguna Hills, 62.9 percent; San Juan Capistrano, 37.2 percent; Fairfield, 30.9 percent; Tustin, 27.1 percent; El Cajon, 26.7 percent; Thousand Oaks, 19.5 percent; Escondido, 18.4 percent; Costa Mesa, 17.3 percent; San Pablo, 16.6 percent; and Encinitas, 16.3 percent.

Leading the way...® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States, with more than 163,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

December 2009 Regional Sales and Price Activity*
Regional and Condo Sales Data Not Seasonally Adjusted

December-09	Median Price	Percent Change in Price from Prior Month		Percent Change in Price from Prior Year		Percent Change in Sales from Prior Month	Percent Change in Sales from Prior Year
	Dec-09	Nov-09		Dec-08		Nov-09	Dec-08
Statewide
Calif. (sf)	$306,820	0.8%		8.4%		4.0%	1.7%
Calif. (condo)	$270,300	-0.6%		11.5%		11.6%	28.2%
C.A.R. Region
High Desert	$121,010	-3.0%		-12.0%		12.7%	-12.3%
Los Angeles	$353,560	-1.7%		4.9%		15.7%	4.3%
Monterey Region	$308,570	-6.4%		6.4%		16.3%	-1.4%
Monterey County	$250,000	2.0%		-2.0%		23.7%	-10.2%
Santa Cruz County	$550,000	0.0%		20.9%		2.1%	27.8%
Northern California	$246,450	-8.3%		-8.2%		9.2%	22.9%
Northern Wine Country	$371,430	2.0%		7.9%		3.3%	-5.1%
Orange County	$496,070	-0.6%		12.1%		4.5%	17.9%
Palm Springs/Lower Desert	$172,320	0.1%		1.5%		21.1%	30.3%
Riverside/San Bernardino	$181,130	1.8%		-5.1%		13.6%	-19.3%
Sacramento	$189,140	0.4%		4.1%		14.5%	-15.0%
San Diego	$382,230	1.5%		10.3%		22.0%	6.9%
San Francisco Bay	$536,070	-5.5%		15.1%		6.6%	28.7%
San Luis Obispo	$381,940	-6.7%		2.0%		1.1%	8.6%
Santa Barbara County	$425,000	2.0%		28.4%		37.2%	12.2%
Santa Barbara South Coast	$847,500	13.0%		-8.9%		27.8%	37.3%
North Santa Barbara County	$256,940	9.5%		0.2%		44.2%	-2.6%
Santa Clara	$560,000	-7.4%		9.3%		7.3%	39.0%
Ventura	$427,890	-1.8%		15.4%		15.1%	8.2%

sf = single‑family, detached home

Source: CALIFORNIA ASSOCIATION OF REALTORS^®

Median Prices By Region – Current Month vs. Year Ago

Dec-09	Nov-09		Dec-08
Statewide
Calif. (sf)	$306,820	$304,520		$283,060	r
Calif. (condo)	$270,300	$271,920		$242,320	r
C.A.R. Region
High Desert	$121,010	$124,710		$137,560
Los Angeles	$353,560	$359,670		$336,980
Monterey Region	$308,570	$329,840		$290,070
Monterey County	$250,000	$245,000		$255,000
Santa Cruz County	$550,000	$550,000		$455,000
Northern California	$246,450	$268,700		$268,350	r
Northern Wine Country	$371,430	$364,230		$344,180
Orange County	$496,070	$499,020		$442,640
Palm Springs/Lower Desert	$172,320	$172,070		$169,730
Riverside/San Bernardino	$181,130	$177,840		$190,840
Sacramento	$189,140	$188,480		$181,660
San Diego	$382,230	$376,450		$346,600	r
San Francisco Bay	$536,070	$567,250		$465,640
San Luis Obispo	$381,940	$409,460		$374,320
Santa Barbara County	$425,000	$416,670		$330,950	r
Santa Barbara South Coast	$847,500	$750,000		$930,000
North Santa Barbara County	$256,940	$234,720		$256,450
Santa Clara	$560,000	$605,000		$512,450
Ventura	$427,890	$435,800		$370,750

na - not available

r - revised

Source: CALIFORNIA ASSOCIATION OF REALTORS^®

Fed Leaves Key Interest Rate Unchanged Jan 27, 2010

Release Date: January 27, 2010

For immediate release

Information received since the Federal Open Market Committee met in December suggests that economic activity has continued to strengthen and that the deterioration in the labor market is abating. Household spending is expanding at a moderate rate but remains constrained by a weak labor market, modest income growth, lower housing wealth, and tight credit. Business spending on equipment and software appears to be picking up, but investment in structures is still contracting and employers remain reluctant to add to payrolls. Firms have brought inventory stocks into better alignment with sales. While bank lending continues to contract, financial market conditions remain supportive of economic growth. Although the pace of economic recovery is likely to be moderate for a time, the Committee anticipates a gradual return to higher levels of resource utilization in a context of price stability.

With substantial resource slack continuing to restrain cost pressures and with longer-term inflation expectations stable, inflation is likely to be subdued for some time.

The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels of the federal funds rate for an extended period. To provide support to mortgage lending and housing markets and to improve overall conditions in private credit markets, the Federal Reserve is in the process of purchasing $1.25 trillion of agency mortgage-backed securities and about $175 billion of agency debt. In order to promote a smooth transition in markets, the Committee is gradually slowing the pace of these purchases, and it anticipates that these transactions will be executed by the end of the first quarter. The Committee will continue to evaluate its purchases of securities in light of the evolving economic outlook and conditions in financial markets.

In light of improved functioning of financial markets, the Federal Reserve will be closing the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility, the Commercial Paper Funding Facility, the Primary Dealer Credit Facility, and the Term Securities Lending Facility on February 1, as previously announced. In addition, the temporary liquidity swap arrangements between the Federal Reserve and other central banks will expire on February 1. The Federal Reserve is in the process of winding down its Term Auction Facility: $50 billion in 28-day credit will be offered on February 8 and $25 billion in 28-day credit will be offered at the final auction on March 8. The anticipated expiration dates for the Term Asset-Backed Securities Loan Facility remain set at June 30 for loans backed by new-issue commercial mortgage-backed securities and March 31 for loans backed by all other types of collateral. The Federal Reserve is prepared to modify these plans if necessary to support financial stability and economic growth.

Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C. Dudley, Vice Chairman; James Bullard; Elizabeth A. Duke; Donald L. Kohn; Sandra Pianalto; Eric S. Rosengren; Daniel K. Tarullo; and Kevin M. Warsh. Voting against the policy action was Thomas M. Hoenig, who believed that economic and financial conditions had changed sufficiently that the expectation of exceptionally low levels of the federal funds rate for an extended period was no longer warranted.

Existing Home Sales Decline More Than Forecast

Business Week Report as of January 25, 2010

By Courtney Schlisserman

Jan. 25 (Bloomberg) -- Sales of existing U.S. homes plunged more than anticipated in December, showing the dependence of the housing market on a government tax credit.

Purchases slumped 17 percent the month after a government tax credit was originally due to expire, the biggest decline since records began in 1968, to a 5.45 million annual rate, the National Association of Realtors said today in Washington. The median sales price increased for the first time in two years.

First-time buyers rushed to complete deals before the $8,000 government incentive was due to end, pushing sales up 28 percent in the three months to November. The subsequent extension and expansion of the credit to include closings through June signal demand will strengthen in the first half of 2010, while raising the risk the market will then slow anew should jobs remain scarce.

“We’ll see a pickup in existing home sales in the next couple of months,” said Adam York, an economist at Wells Fargo Securities LLC in Charlotte, North Carolina, who forecast a 5.4 million sales pace. Although “we’re past the bottom,” he said, “I don’t think there’s going to be a lot of buyers out there looking for a home outside of the tax-induced effects until they feel more comfortable with the labor market.”

Stocks trimmed earlier gains following the report. The Standard & Poor’s 500 Index was up 0.5 percent to 1,097.66 at 12:01 p.m. in New York. The S&P Supercomposite Homebuilder Index was down 0.6 percent.

Less Than Forecast

For all of 2009, existing home sales rose 4.9 percent to 5.16 million, the first gain in four years, from 4.91 million in 2008. The median price last year was $173,500, down 12 percent from 2008, the biggest annual drop on record and probably the largest since the Great Depression, NAR chief economist Lawrence Yun said in a news conference.

The median value in December was $178,300, up 1.5 percent from the same month in 2008. The increase was the first since August 2007 and the biggest since May 2006, the agents’ group said. A decline in the number of first-time buyers, who usually purchase less expensive houses, helped push up the median value last month, Yun said.

First-Time Buyers

The share of homes sold to first-time buyers fell to 43 percent in December from 51 percent the prior month, Yun said, indicating the expected end of the tax credit played a role in the drop in sales.

President Barack Obama and Congress extended the first-time buyer credit in early November to cover deals signed by April 30 and closed by June 30, and expanded it to include current homeowners. Even so, some economists believe the original measure pulled sales forward, restraining demand for a few months.

Yun said he was “generally pleased” with the December outcome since he feared an even larger drop following the expected expiration of the tax credit. “There is an increase in home-buyer confidence,” he said, adding “there is some sustainable momentum” in sales. Even with the decline, sales were still up 15 percent from the same month last year, signaling a general improvement, he said.

The number of previously owned homes on the market decreased 6.6 percent to 3.29 million, the lowest level since March 2006. At the current sales pace, it would take 7.2 months to sell those houses, compared with 6.5 months at the end of November.

Fed Action

The end of Federal Reserve purchases of mortgage-backed securities aimed at keeping borrowing costs low represents a challenge for the industry. The program is scheduled to expire by March 31.

Policy makers are scheduled to meet this week to discuss the direction of the benchmark lending rate between banks. The emergency programs were being wound down “in light of ongoing improvements in the functioning of financial markets,” central bankers said in their Dec. 16 statement.

Joblessness and foreclosures are other concerns. Unemployment is forecast to average 10 percent this year, the highest level in seven decades. A record 3 million U.S. homes will be repossessed by lenders this year, RealtyTrac Inc. forecast on Jan. 14. That is up from 2.82 million in 2009, the most since the company began compiling data in 2005.

Competition with foreclosures has been especially daunting for homebuilders. KB Home, the Los Angeles-based homebuilder that sells to first-time buyers, said Jan. 12 that fourth- quarter revenue dropped 27 percent.

KB Home’s orders rose 12 percent to 1,446 from 1,296 in the year-earlier quarter, while completed sales dropped 22 percent to 3,042. The company is “not going to make money in the first quarter” and plans to “restore profitability” in the second half of 2010, Chief Executive Officer Jeffrey Mezger said Jan. 12 in a conference call with analysts and investors.

--With assistance from Oshrat Carmiel in New York. Editors: Carlos Torres, Vince Golle

To contact the reporter on this story: Courtney Schlisserman in Washington at +1-202-624-1943 or cschlisserma@bloomberg.net

To contact the editor responsible for this story: Christopher Wellisz at +1-202-624-1862 or cwellisz@bloomberg.net

Brandon Knapp's Market Update 1/25/10

Here is Brandon Knapp's, Owner/Branch Manager of RPM Mortgage, market update for January 25, 2010.

Silicon Valley house, condo markets show gains in December

By Sue McAllister

smcallister@mercurynews.com

Posted: 01/21/2010 10:35:26 AM PST

Updated: 01/22/2010 08:29:45 AM PST

A 44 percent jump in sales of Santa Clara County houses in December capped a year that saw the most properties change hands since 2006.

The median house price also rose last month, to $525,750, up 15 percent from December 2008, according to a report Thursday from MDA DataQuick. That was slightly lower than the year's peak of $550,000 in both October and November, and still far off the record reached in summer 2007 of $805,500.

"All the downward pressure on prices from all the foreclosure activity helped clear the market, and it's resulted in a considerably higher rate of sales," said Dana Johnson, chief economist for Comerica Bank.

A federal tax credit for first-time buyers also boosted interest last

year, when 13,934 houses were sold. Once set to end in November, the tax credit program was extended until April this year.

If demand continues to increase, home prices will rise. "The housing bubble, which was particularly severe in California, has been worked through, and that creates a more balanced and healthy local economy," setting the stage for prices to start climbing upward, Johnson said.

Prices in some neighborhoods may be "inching up," said DataQuick's Andrew Lepage, but the 15 percent year-over-year increase in the median price in December is "certainly not because the typical house in Santa Clara County has gained 15 percent in value."

Instead, a primary reason for the big jump was that more homes in the upper price ranges sold than in the final month of 2008, when the stock market had tanked and sales in high-end neighborhoods slowed drastically.

Last month, houses that cost from $500,000 to $999,999 made up 38 percent of sales, for example, but in December 2008, only 33 percent of sales fell into that price range.

A total of 1,266 resale houses sold in the county last month, about the same level as in December three years earlier, before the subprime mortgage crisis began to erode the real estate market.

Condominium sales were even stronger, with 69 percent more sales last month than in December 2008. The median price of the condos that changed hands last month was $333,000, up 11 percent from a year earlier.

In San Mateo County, the median price of houses rose 16.5 percent, to $658,000, and sales volume increased 47 percent, to 505. The median marks the halfway point, meaning half the homes sold for less than the median price, and half for more.

Homes in Santa Clara County were popular with investors in December, DataQuick's report showed. Nearly 14 percent of all homes were sold to "absentee" buyers — those whose mailing address was different from the property address, a good proxy for investor or vacation-homebuyers.

In addition, 22.7 percent of home purchases in the county in December appear to have been made in cash, because no mortgage was recorded on the date of sale. The peak month for all-cash sales was August, with 23.3 percent.

"Investors specifically are buying in cash because that's winning out over financed deals" when there are multiple offers on a property, said Geraldine Barry, president of the San Jose Real Estate Investors Association. "A lot of times, financed deals will fall through."

Oscar Apostol and his wife are among those who have been losing out to all-cash buyers. They've been looking for a house costing less than $500,000 in San Jose's Blossom Hill and Cambrian neighborhoods since early last year, and "we got outbid like 10 times," mostly by people paying in cash, said Apostol, who rents in Redwood City.

He plans to go to an open house for a Blossom Hill property this weekend. Once listed for $425,000, the house has been reduced to $379,000, he said. "They're bringing the price down to get a lot of people bidding," Apostol said. He said it's unlikely he'll make an offer under those circumstances, and he's hoping more homes come up for sale in February. "I'm trying to stay positive."

For 2009 as a whole, the median price of houses sold in Santa Clara County was $500,000, a big drop from the peak annual median price of $775,000 in 2007. The last time the county's annual median price was lower was in 2002, at $494,000.

Contact Sue McAllister at 408-920-5833.

Valley's rents at 3-year low

By Sue McAllister

smcallister@mercurynews.com

Posted: 01/20/2010 08:27:38 PM PST

Updated: 01/21/2010 08:52:04 AM PST

Driven largely by unemployment and lower incomes, apartment rents in Santa Clara County tumbled 11.5 percent in the fourth quarter compared with a year earlier, reaching their lowest level in three years.

The average monthly rent countywide for all types of units in large complexes — from studios to three-bedroom townhouses — fell to $1,482 in the fourth quarter, down 3.5 percent from $1,536 in the third quarter, according to a report released today from RealFacts, a Marin County company that tracks rents and occupancy rates in apartment complexes of at least 50 units. At the end of 2008, average rent in Santa Clara County was $1,675.

The last time rents were lower was in the fourth quarter of

2006, when the average rent was $1,481, just a dollar short of the most recent figure.

In Santa Clara County, the report covers 426 complexes, for a total of more than 78,000 units.

In San Mateo County, average monthly rent in the fourth quarter was $1,628, down slightly from $1,650 in the July-to-September period. But rents in that county fell 8.1 percent compared with the fourth quarter of 2008. The last time rents were lower was in the first quarter of 2007, at $1,624.

"Two conditions are affecting the market: One is unemployment, and the other is the decrease in household income," said RealFacts owner Sarah Bridge. With the decline in high-paying technology jobs in the past year, rents fell in bigger, newer apartment complexes, but occupancy levels remained relatively healthy, she said.

"It wasn't that there wasn't a demand for the product," but renters thought, —‰'Hey, we can't pay these top-of-the-market prices,' " she said.

Large complexes in Santa Clara County were 94.7 percent occupied last quarter, up slightly from 94.5 percent in the third quarter and down slightly from 94.8 percent at the end of 2008. The recent peak for occupancy was in the first quarter of 2008, at 96.5 percent. Bridge said landlords typically feel they can raise rents when their units are at least 95 percent full.

A wide spectrum of local landlords dropped rents last year in response to weakening demand, said Joshua Howard, executive director of the California Apartment Association/Tri-County division, whose members include big and small landlords in Santa Clara, San Mateo and Santa Cruz counties. In addition to high unemployment, more single-family homes and condominiums were being rented out last year, he said. Plus, "Some renters who have lost their jobs or taken salary reductions have decided to double up. All of this is affecting occupancy rates and rents in Silicon Valley."

Renters who do have stable incomes may be helping to boost the occupancy levels in those big complexes, he said. As rents there have dropped, more people can afford them and can ditch their old rentals in favor of something fancier.

Zubin Sadeghzadeh, a recent graduate of the University of California-Santa Cruz who works in marketing for a Milpitas company, has been living with family in Almaden Valley while looking for a place to rent in San Jose. He's noticed the decline in rents — a complex he lived in in late 2008 is charging $450 less now, he said. But there are very few studios or one-bedrooms in high-quality buildings that he can afford on his entry-level salary, he said.

"There's deals to be had if you can afford it, but someone in my position, who doesn't have the disposable income to put toward it, I'm basically looking at rooms" to rent in shared housing, he said.

As Sadeghzadeh has found, San Jose is still an expensive place to find housing. Despite falling 11.5 percent from the fourth quarter of 2008, average rent in the San Jose metro area — which includes Santa Clara and San Benito counties — was still third highest in the Western states, the RealFacts report showed.

The Los Angeles/Long Beach/Santa Ana metro area was most expensive at $1,520 average rent, followed by San Francisco/Oakland/Fremont at $1,502. (San Mateo County is part of the San Francisco metro area statistics.)

The steepest quarterly declines in rents in the West came in the Phoenix and Las Vegas metro areas. Average rent fell 8.7 percent between the third and fourth quarters in Phoenix, to $695, and dropped 8.2 percent in the Las Vegas area to $768.

Contact Sue McAllister at 408-920-5833.

Mountain View Sales Statistics Now Available Through 2009

by Deniece Watkins Smith, Realtor, ePro, SRES

Mountain View average single family home prices fell to $946,438 in 2009 from $1,067,009 in 2008 and an all-time high of $1,085,372 in 2008.

Average days on market increased from 32 in 2008 to 62 in 2009, meaning homes spent almost twice as long on the market before they were sold.

Total sales volume peaked in 2005 for Mountain View, totaling $383,675,000 (rounded). From that peak, sales volume has decreased to $240,395,000 (rounded), or by 37%.

Area Year No. Sales Average Price Yr/Yr $ Change Yr/Yr % Change Total Vol/ $1,000 Yr/Yr $ Change Avg DOM

Mountain View 2009 254 $ 946,438 $ (120,571) -12.74% $ 240,395 $ (10,353) 62

Mountain View 2008 235 $ 1,067,009 $ (18,363) -1.72% $ 250,748 $ (42,302) 32*

Mountain View 2007 270 $ 1,085,372 $ 94,577 8.71% $ 293,050 $ (22,022) 19

Closed sales statistics since 1997 are now available for Mountain View and all other cities in Santa Clara County and San Mateo County now at my website at http://dsoldit.com/area_information.html.