Price of homes continues to stabilize across Santa Clara County and Alameda County. Below are the median sold price trend charts for the past 2 years ending September 2009.

Santa Clara County
Median Sold Price by Month

More trend charts available under "Community" tab.

Alameda County
Median Sold Price by Month

More trend charts available under "Community" tab.

Some observations from our company's recent listings... Single family homes priced under $500k are generating a lot of interest from buyers. They are the most affordable and attractive to both first-time homebuyers and investors. It has become a seller's market for the entry-level homes. Single family homes priced over $700k are taking longer to sell. Regardless of price, homes that are priced attractively can sell quickly with multiple offers.

• 1837 Girard Dr, Milpitas - Single family home with remodeled kitchen and bathrooms. Listed for $450,000. Generated 9 offers in one week. Currently pending.
• 29015 Rosecliff Ln, Hayward - Contemporary style single family home 14 yrs old.  Listed for $458,000. Generated 20 offers in one week. Currently pending.
• 2314 Farmcrest St, Milpitas - Contemporary style single family home, 20 yrs old with remodeled kitchen and bathrooms. Listed for $718,000. Generated multiple offers. Sold 9/16/09 for $730,000 . ($12K over asking price).
• 1205 Monte Dr, Milpitas - 18 yr old Shapell townhome with updated kitchen. Listed for $568,888. Generated multiple offers. Sold 9/18/09 for $572,000.

As we head into the end of the year which is normally a slower market, we are watching the inventory of homes for sale, mortgage rates, economy recovery, and government actions. Will there be more foreclosure resales coming on the market? Will mortgage rates remain at historical lows? Will there be more company layoffs at the end of the year? Will the first-time home buyer credit be extended? Many buyers have been outbid and pushed out of the market. As long as conditions remain favorable, the housing recovery will continue on.