Good news for home buyers…..where the median home sales price was up in almost every one of Pacific Union’s Bay Area regions this year, August had a bit of a down tick.

SILICON VALLEY ~ PENINSULA

Homes in Pacific Union’s Silicon Valley region continue to command the highest prices of any our regions, with the median clocking in at $2.4 million for the past five months. Still, buyers are getting a small break on another front: In August they paid an average of 1 percent more than original price, compared with 5 percent earlier in the spring.

The average days on market in Silicon Valley has increased each month since May, and homes took an average of 37 days to sell in August. At 1.3, the MSI dipped just a bit from the preceding month.

Defining Silicon Valley: Our real estate markets in the Silicon Valley region include the cities and towns of Atherton, Los Altos (excluding county area), Los Altos Hills, Menlo Park (excluding east of U.S. 101), Palo Alto, Portola Valley, and Woodside. Sales data in the adjoining chart includes all single-family homes in these communities.

To view the graph in a larger format just click on the link:

http://blog.pacunion.com/wp-content/uploads/MonthlyMarketUpdateAug14SiliconValley.pdf