Mon05022016

Business & Real Estate

Local luxury-home prices climb, but sales, inventory dip in October

Luxury-home prices in Silicon Valley continued to climb in October as buyers competed for the relatively few available properties on the market, according to a new report by Coldwell Banker Residential Brokerage, a specialist in high-end real estate sales.

The median sale price of a luxury property rose 7 percent in October from a year ago to $2.1 million. The jump represented a 10.6 percent increase from September’s median price. The figures are based on Multiple Listing Service data for all homes sold for more than $1.5 million in October in Santa Clara County.

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NAR economist: Silicon Valley is Florence of 'tech renaissance'

Economists impressed with Silicon Valley’s economic growth since the recession have described the region as “special,” and the National Association of Realtors’ chief economist had a particular comparison at a recent meeting.

“Silicon Valley is the Florence of the technology renaissance,” Lawrence Yun told members of the Silicon Valley Association of Realtors at their annual meeting, held in October at the Computer History Museum in Mountain View.

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Transactions

Los Altos/ Los Altos Hills

10495 Albertsworth Lane, Busch Trust to T. Boros for $2,528,000

996 Crooked Creek Drive, D. & J. Han to M. Sharangpani for $2,630,000

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Transactions

Los Altos

660 Covington Road, Qtip Trust to J. Wang for $2,700,000

4388 El Camino Real No. 119, H. Fan to S. & M. Howarth for $1,150,000

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Transactions

Los Altos

110 Second Street, Crosby Trust to Second Street Limited for $3,100,000

1380 Country Club Drive, Murphy Trust to G. & K. Allen for $3,100,000

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Transactions

Los Altos

104 Alvarado Avenue, Collins Trust to T. & G. Angelos for $3,500,000

171 Del Monte Avenue, Del Monte Avenue Limited to G. & M. Sucharczuk for $3,550,000

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Transactions

Los Altos

775 Anderson Drive, Hirsch Trust to Brzozowski Trust for $2,500,000

74 Bay Tree Lane, Slichter Trust to D. Cohn for $2,200,000

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