Tuesday, October 16, 2007

Fourplex Stats Santa Clara County - Dismal

Courtesy of TIC expert John Reyes of Welton Street Investments comes startling data on the fourplex market for the month of September 2007.
In Santa Clara County (excluding Los Altos and Palo Alto) there are:
Active Listings 137
Average Days on Market 88
4plexes In Escrow 10
Months of Inventory 13.7
Closings !!!!2!!!!

The values below are not just for September as only 2 closings skews the averages:

Average sales price: $980,000
Average price per unit: $246,000
Average price per square foot: $275
Average GRM: 17.5

I'll just let you think about the closing number - I hope it goes up next month...

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