This probate sales activity report includes probate sales in Santa Clara County in December 2016. This report is comprised of statistical data from December 1st through December 31, 2016 extracted from our local Multiple Listing Service (“MLS”) as of January 1, 2017. The data includes single family homes, condominiums and townhouses.
Probate Sales Activity December 2016
- 9 Active Probate Properties for Sale
- All single family homes
- 2 of the 9 homes are trust sales, 7 are probate sales
- 19 Pending Sales (Under Contract)
- 15 single family homes, 3 townhouse and 1 condominium
- 15 of the 19 pending sales are probate sales, 4 are trust sales
- 6 Sold Probate Homes
- All single family homes
- 4 of the 6 sold homes were probate sales, 2 were trust sales
- Average List Price: $1,122,800
- Average Sale Price: $1,072,600
- Average Days on Market: 15
The highest price probate home sold required court confirmation. It was a single family home is Los Altos, 94022. It has 3 bedrooms, 2 bathroom, approximately 1,656 square feet of living space on a nearly 10,000 square foot lot. It first listed on September 22,2016 at a list price of $1,800,000. On September 29, 2016 the status was changed to active contingent. On October 3, 2016 the list price was increased to $2,548,850. The property reported sold on December 7, 2016. The sales price was reported as $2,427,000. Total days on the market was 7 days. It was a probate sale. Buyer had conventional financing.
The lowest price home sold was a single family home. It had 3 bedrooms, 2 bathrooms, 1,247 s.f. located in Gilroy in the 95020 zip code. It listed at $575,000 on August 15, 2016. Status was changed to pending on September 20, 2016. It sold for $555,000 with conventional financing. The days on market was 36 days. It was a probate sale.
Looking at “averages” only gives us a snapshot of the entire market. Home prices vary all throughout San Jose and the entire Silicon Valley. The location and condition of a home will always impact value. This is true of all home sales not just Probate and Trust Sales.
While many aspects of probate sales may be similar to a non-probate sale of real property, a Personal Representative is well advised to seek a qualified real estate agent to represent them in the sale of a probate and trust home. We live in a highly specialized world today. Hiring a Certified Probate Agent is just as important as hiring an attorney who specializes in probate.
If you need an attorney who specializes in Probate I am happy to recommend one. If you already have an attorney and simply need help with selling probate real estate then give me a call. I may be reached at my office 408.972.1822 or on my cell at 408.499.8751. If you prefer, you may request a consultation. We are here to help.