COUNTYWISE HOMES SOLD REPORT FEBRUARY 2015

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Countywise Report for February 2015

The actual numbers show homes sold in Feb 2015 was less than Feb 2014.Average Homes Sold in Feb 2015 was 2,547 compared to Average Homes Sold  of 3,064 in Feb 2014.Average SP/LP% was 101.79% in Feb 2015 compared to 100.10% in Feb 2014.Average DOM in Feb 2015 was 84 days compared to Average DOM of 88 days in Feb 2014.Average Sales price in Feb 2015 was $963,351 compared to Average Sales Price of $800,351 in Feb 2014.However, looking closely at the Sales Price/List Price % and Days on market shows that the market is very much a sellers market. Buyers were chasing less inventory and offering way over asking prices to get into contract. It took less days to sell a home as compared to Feb 2014.

Countywise  Homes Sales

Number of homes sold was analyzed for 7 Counties.

    • All Counties saw a drop in volume  compared to corresponding period in Feb 2014.
    • All Counties except San Mateo also saw a drop in volume in Feb 2015 compared to Jan 2015.
    • Average Homes Sold in Feb 2015 was 2,547 compared to Average Homes Sold  of 3,064 in Feb 2014
    • The drop can be attributed to lack of inventory since all other parameters point to pent up demand.

ALL sold

Countywise SP/LP%

      • 4 out of 7 counties evaluated  had sales closings over asking price in the month of Feb 2015.
      • The situation was similar in Feb 2014 with 4 out of 7 cities having sales over asking.
      • Average SP/LP% was 101.79% in Feb 2015 compared to 100.10% in Feb 2014.

ALL SPLP

Countywise Days on Market ( DOM)

        • Listings in 5  out of 7 counties reviewed took less time to sell, as compared to listings sold in Feb 2014.The gainers were Alameda (79), San Benito (71), San Mateo (67), Santa Clara (58) and Santa Cruz (98).
        • Listings in Contra Costa County (84), Monterey County (124) and San Cruz (98) took 80 or more days to sell
        • All other counties fell between  an average between 51-79 days.
        • Average DOM in Feb 2015 was 84 days compared to Average DOM of 88 days in Feb 2014.

ALL DOM

Countywise Average Prices

          • Countywise Average sales price was analysed for 7 Counties for last 1 year.
          • All Counties saw a price increase in Feb 2015  compared to last Feb 2014.
          • All Counties except Alameda County and Santa Cruz also saw a price increase compared to previous month of Jan 2015.
          • Average Sales price in Feb 2015 was $963,351 compared to Average Sales Price of $800,351 in Feb 2014.

ALL AVG

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