Last month, the average sale price of a single family home stood at $727,875, a 5.42 percent rise as compared with the $690,471 of December 2010. The average sale price of a condo or townhouse was $349,737, a 5.74 percent decrease as compared with the $371,024 of December 2010.
Today's market conditions are good for both buyers and sellers, Santa Clara County Association of REALTORS® President Barbara Lymberis said. Savvy buyers are taking advantage of today's incredibly low interest rates and affordable prices, and sellers can hope for a speedy sale if the home is priced right.
"Rents have been rising steadily, making home ownership more attractive again," Lymberis said. "Demand for homes is exceeding inventory. Any home coming onto the market, if priced fairly, should spark a good amount of interest very quickly. Both buyers and sellers will win in this market, which is the way it should be."
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