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Original post made on Feb 26, 2016

LESS LUX ... Fewer high-priced homes on the market generally means fewer high-priced sales, a truism borne out in January by local statistics. Silicon Valley's luxury housing market (think $2 million or more) began 2016 with slightly lower sales than in January 2015, according to a new report by Coldwell Banker Residential Brokerage. The figures are based on Multiple Listing Service data of all homes sold in Santa Clara County. Forty-eight properties changed hands last month, down 4 percent from the 50 sales in January 2015. Last month's total was also down sharply from December's 98 sales, although a significant drop from December to January is not unusual, as more buyers try to close before year end, the report states. The median sale price of a luxury property last month was $2,395,000, down 12.1 percent from a year ago. January's median was also down 7.8 percent from December's, due in part to the mix of homes that sold. More tidbits from the report:

Read the full story here Web Link posted Friday, February 26, 2016, 12:00 AM


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