Sign of downturn in real estate

To add to list of houses which have either dropped their listing price or those selling for less than asking:

1. 189 Gilbert ave Santa Clara, sold of 28k less than asking prices (for $2.06mill)
2. 797 Durshire way Sunnyvale dropped listing price by $110k (to $1.88mill)
3. 52 Claremont ave Santa Clara (nicely remodelled) dropped listing price by $150k (to $2.35mill)
4. 5548 Greenoak dr San Jose dropped listing price by 100k (to $2.09mill)
5. 1037 W Homestead road Rd Sunnyvale dropped listing proce by 100k (to $2.5mill)
6. 10156 Imperial ave Cupertino dropped listing price by 100k (to $1.775mill)

There is another (two) house(s) that sold for higher than asking -

1. 322 Madrone ave Santa Clara - 1750 sqft house sold for $1.98mill (8/23/18)
2. 337 Montclair dr Santa Clata -  1800 sqft house sold for $1.88mill (9/7/18)

Compare this to other recently sold houses

2. 396 Grinnel ct Santa Clara, 1508 sqft house sold for $2.4mill on 5/8/18
3. 611 Hillsdale ave Santa Clata, 1284 sqft house sold for $2.08mil on 6/30/18
4. 162 Brian ln Santa Clata, 1130 sqft house sold for $2.07mill on 3/28/18.

Here you have a 1750 sqft house selling for less than what say 1100 sqft house sold for 5 months back. At least the trend is clear. Not all listed houses are in good or move-in condition. Even taking that into consideration, trend is clear. There is a definite pull back in real estate prices - which is good for buyers and probably good for the Bay area in general.

Looking at houses in Cupertino around 1200 sqft that sold last year, there is a clear drop in selling price over last 6 months. Here is a small sample -

1. 1134 Derbyshire dr Cupertino, 1190 sqft sold for $2.23mill on 3/8/18
2. 7539 Lockford ct, Cupertino 1120 sqft sold for $2.02mill on 4/6/18
3. 10536 John way Cupertino, 1150 sqft sold for $1.98mill on 8/2/18

There are lot more in the list, but above 3 get the point across. While it is not crashing, there is definitely some headwind on these prices. Folks are not earger to put all they have into the house these days !