The month of October saw 44 homes sell in Santa Clara which was 30% lower than the previous month which saw 65 homes sell. The market has been hot in October with many of the listings sold within 2 weeks of being on the market and many with multiple offers.  The month also saw a number of short sales close that had been on the market 300 days.  Currently the Santa Clara market has 78 homes on the market.  This number I estimate will drop to the 50’s by the end of the year.  Most of the current homes on the market are lingering listings.  Very few new listings are coming out and most are rough properties.  Another interesting note is the number of price reductions are fewer than last month’s.  October saw 22% of the closed listings experience price reductions, where September experienced 32%.

The fed is indicating that they will keep rates down, congress and the president have extended the first time home buyer credit and have even extended it to higher income households.   With low rates and low inventory we may be info a very competitive market in 2010 full of multiple offers and rising prices.

We are midway through November now and many homes that have not sold in the prior months have gone into contract, a sure sign of the market heating up.

	List Price	Street Address	DOM	Sale Price	Close Date
1	$321,500	2572 AMETHYST DR	9	$385,000	9/22/2009
2	$365,900	2452 PAINTED ROCK DR	8	$365,000	9/30/2009
3	$387,900	4669 SNEAD DR	23	$450,000	10/23/2009
4	$389,000	1755 FRANCK AVE	6	$450,000	10/27/2009
5	$399,900	1373 LAS PALMAS DR	7	$410,000	10/30/2009
6	$420,000	2140 MONTEREY AVE	315	$460,000	10/23/2009
7	$424,900	1779 EBERHARD ST	12	$450,000	10/15/2009
8	$432,500	840 BAIRD AVE	24	$481,000	10/9/2009
9	$490,000	1124 JACKSON ST	0	$490,000	10/27/2009
10	$499,000	1837 WADE AVE	8	$545,000	10/16/2009
11	$525,000	465 SARATOGA AVE UNIT QUIET END	10	$526,000	9/28/2009
12	$529,000	606 N MONROE ST	1	$529,000	10/23/2009
13	$539,000	2968 CHROMITE DR	77	$512,000	10/1/2009
14	$545,000	3343 SNIVELY AVE	5	$545,000	10/14/2009
15	$549,000	2202 PEACHTREE LN	25	$536,400	10/12/2009
16	$549,950	1851 CATHERINE ST	317	$540,000	9/24/2009
17	$550,000	2443 BORAX DR	10	$775,000	10/14/2009
18	$564,900	3878 WILLOW WAY	11	$569,000	10/5/2009
19	$566,000	3361 TRACY DR	6	$690,000	10/15/2009
20	$575,000	759 LAYTON ST	21	$570,000	10/16/2009
21	$588,000	2347 OSBORNE AVE	8	$585,000	10/1/2009
22	$599,000	3433 LONDONDERRY DR	9	$620,000	10/1/2009
23	$599,888	2331 REGINA CT	215	$560,000	9/29/2009
24	$625,000	732 FLANNERY ST	8	$599,000	10/6/2009
25	$649,950	2062 CALABAZAS BL	17	$630,000	10/23/2009
26	$659,000	734 RIDGE RD	8	$695,000	10/28/2009
27	$675,000	2495 BENTON ST	33	$668,000	10/1/2009
28	$678,000	601 CAMINO DR	20	$650,000	10/1/2009
29	$689,000	769 BAYLOR DR	6	$705,000	10/16/2009
30	$699,000	654 TULANE DR	93	$671,000	9/30/2009
31	$779,000	4360 LAIRD CIR	14	$765,000	10/30/2009
32	$779,950	3020 PRUNERIDGE AVE	48	$765,000	10/1/2009
33	$789,000	3754 PRUNERIDGE AVE	53	$760,000	10/3/2009
34	$799,000	1350 VIA DONDERA	56	$750,000	10/8/2009
35	$799,950	781 CORNELL DR	46	$785,000	10/2/2009
36	$801,888	416 GIANNINI DR	108	$685,000	10/9/2009
37	$838,000	2380 SUNNY VISTA DR	17	$765,000	10/9/2009
38	$858,888	155 RODONOVAN DR	123	$770,000	10/16/2009
39	$875,000	932 GARRITY WAY	35	$855,000	10/15/2009
40	$895,000	4321 MARSTON LN	9	$890,000	10/23/2009
41	$899,980	4304 MARSTON LN	7	$906,000	10/1/2009
42	$998,000	1022 BRACKETT WAY	25	$1,017,000	10/16/2009
43	$1,029,000	1158 DOYLE CIR	50	$1,005,000	10/16/2009
44	$1,050,000	1260 HARRISON ST	11	$900,000	10/16/2009