Mark's Notebook


	If you believe everything you read, better not read. - Japanese Proverb

Latest numbers signal softening of red-hot home market

San Jose Mercury News

Wednesday 19 October 2005, 12:27 pm
Keywords: News Articles

By Margaret Steen, Mercury News

The median house price in Santa Clara County dropped to $705,000 in September amid signs this month that Silicon Valley's red-hot real estate market is cooling.

New data available Tuesday also shows it's taking longer to sell homes. At the beginning of the year, it would have taken 28 days to sell all the homes on the market in the county, given the pace of sales then. It would take more than 54 days today.

The median price of a single-family resale home in Santa Clara County dipped in September to $705,000 from a record $714,000 in August, according to DataQuick. The median price of a condo was $480,000, up 23.7 percent from a year earlier but down from $490,000 in August.

http://www.mercurynews.com/mld/mercurynews/classifieds/real_estate/12939758.htm