The median is a halfway point, meaning half the homes sold cost more and half cost less. The numbers reflect transactions that closed in March, meaning that the sales likely were initiated in February or even January. DataQuick President Mike Ela does not expect prices overall to decline, although he does anticipate lower rates of appreciation in the coming months. There are many more homes for sale than there were last year at this time, and it's taking longer to sell them. In Santa Clara County, there are about 4,100 single-family homes for sale, about double what was available last year at this time.
Open houses are back with a vengeance.
Some homes sold quickly last spring even if they had never been held open on a weekend. Not so anymore. Fred Hibbert, broker at the Coldwell Banker office in Los Altos, said agents are holding more open houses, sometimes with longer hours or on weekdays. A dozen guests snacked on fruit, cheese and wine while enjoying the sunset and city-lights vistas. Some agents are taking extra pains to ensure fellow agents know the virtues of their listings.