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This probate sales activity report includes Probate sales and Trust real property sales in Santa Clara County in May 2017. This report is comprised of statistical data from May 1st through May 31, 2017, extracted from our local Multiple Listing Service (“MLS”) as of June 1, 2017. The data includes single-family homes, condominiums, and townhouses. It may not include off-market sales.
Probate Sales Activity May 2017
- 3 Active Probate Properties for Sale
- All 3 single family homes and probate sales
- 17 Pending Sales (Under Contract)
- 13 single-family homes, 2 townhomes, and 2 condominiums
- 13 probate sales and 4 trust sales
- 9 Sold Probate Homes
- 7 single-family homes and 1 condo and 1 townhome
- 8 were probate sales and one trust sale
- Average List Price: $1,118,989 – an increase from the previous month
- Average Sale Price: $1,152,890 – an increase from the previous month
- Average Days on Market: 67
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. The average list and sales price in May is unusually high, as are the average days on the market. The reason for this is a multi-million dollar sale outlined below.
Probate Sales | Highest Price Home Sold
The highest price probate home sold indicated that court confirmation was required. It was a single-family home located in Saratoga 95070. It has 4 bedrooms, 3 and 1/2 bathrooms, and approximately 4,650 square feet of living space on an approximately 16,000 square foot lot. It was 14 years old. It was first listed on November 8, 2016, at $3,450,888. On March 10, 2017, the price was reduced to $3,250,000. On April 18, 2017, the MLS reported pending status. On May 19, 2017, it was reported sold. The final sales price reported was $2,900,000. It was reported as a cash sale.
Probate Sales | Highest Price Home Sold
The lowest price probate home sold did not require court confirmation and was a probate sale. It was a condominium located in San Jose 95134. It had 2 bedrooms, 2 bathrooms, 850 square feet on a 871 square foot lot. The home was 24 years old. It was listed on March 24, 2017, at $599,950. On April 9, 2017, the MLS reported pending status. On May 4, 2017, it was reported sold. The final sales price reported was $620,000. The buyer had conventional financing.
Certified Probate Real Estate Specialist
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 Real Estate Specialist 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 at 408.972.1822 or on my cell at 408.499.8751. If you prefer, you may request a consultation. We are here to help.