Housing Inventory Snapshot

Housing Inventory Snapshot

October 31, 07
Average List Price Median List Price Average Days On Market
Santa Clara County, CA
Single Family under $1M $677,331 $655,000 70
Single Family over $1M $2,081,736 $1,499,999 74
Condo/Townhome under $600K $431,154 $423,888 70
Condo/Townhome over $600K $737,048 $695,000 62
San Mateo County, CA
Single Family under $1M $715,505 $699,950 65
Single Family over $1M $2,350,851 $1,559,000 68
Condo/Townhome under $600K $460,472 $469,000 74
Condo/Townhome over $600K $942,612 $775,000 103
Santa Cruz County, CA
Single Family under $1M $649,161 $645,000 93
Single Family over $1M $1,934,603 $1,495,000 100
Condo/Townhome under $600K $440,022 $450,000 85
Condo/Townhome over $600K $858,676 $799,000 74
Monterey County, CA
Single Family under $1M $560,896 $535,000 104
Single Family over $1M $2,436,153 $1,695,000 135
Condo/Townhome under $600K $386,174 $365,000 111
Condo/Townhome over $600K $1,023,955 $799,000 111
Contra Costa County, CA
Single Family under $1M $502,599 $467,000 79
Single Family over $1M $1,716,292 $1,399,000 85
Condo/Townhome under $600K $350,574 $339,000 83
Condo/Townhome over $600K $709,256 $689,000 70
Alameda County, CA
Single Family under $1M $560,507 $545,500 67
Single Family over $1M $1,651,635 $1,350,000 72
Condo/Townhome under $600K $404,438 $399,000 65
Condo/Townhome over $600K $720,582 $679,000 51

MORTGAGE. National Averages (October 31, 07)*

30-year fixed Rate – 5.91% APR – 6.1%
15-year fixed Rate – 5.54% APR – 5.83%
5/1 ARM Rate – 5.63% APR – 6.64%


* Mortgage rates were collected from publicly available sources (yahoo.com) on the date stated. The accuracy of the information and the availability of these rates are not guaranteed by the publisher. Rates are provided for informational purposes only and are subject to change without notice. Actual market interest rates may vary.

Subprime Mortgages Will Return, But With Some Changes

BOSTON (MarketWatch) — Although “subprime” has become a four-letter word in the country’s collective lexicon and no one is sure when the credit crisis that was spawned by a meltdown in the risky lending sector will ease, mortgage bankers say you can count on this: Subprime shall return.

The next generation of subprime mortgages, however, will look much different than the loans issued during the height of the housing boom in the first half of the decade that are now causing so much trouble, mortgage professionals say.

“So long as we have a policy position in this country of maintaining or further increasing homeownership rates there is going to be subprime lending,” said Mark Fleming, chief economist with First American CoreLogic, a provider of mortgage-risk management and fraud-protection technology.

“We have been very successful in increasing homeownership rates. One of the ways we’ve done that is by creating liquidity and offering credit to people who we traditionally wouldn’t have 20 years ago — the subprime borrower.”

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