Spotting trends in the market is certainly the way to find the market bottom of the Santa Clara Valley real estate market. In this post I am looking specifically at Santa Clara, Sunnyvale, Mountain View, Los Altos, Saratoga, Los Gatos, and Los Altos markets. Looking at Sales and Inventory information to get an idea of how inventory is moving or not moving.
Santa Clara Started the year off great compared to last year’s figures. The last two weeks however have failed to follow that trend and it appears that this years inventory figures have just barely passed up last years numbers for the same period last year. Sales are about the same. This may be a sign of higher inventory this year and more price drops to come.
Moutain View continues on the same trend. About double the inventory of last years number and half the sales. We should definitely be expecting price drops in Mountain View.
The same for Cupertino. Showing no signs of slow down in increase home inventory and although sales are not too far behind last years levels the doubled increase in inventory is sure to increase days on market and lead to further price decreases.
It seems as though sunnyale has been fairly consistend this year. Eventhough the sales figures are slightly down versus last year and inventory is about 10% higher Sunnyvale may experience a moderate price drop.
Home inventory in Los Gatos is continuing to ramp up as sales stay steady. More signs the Los Gatos home market still has some more room to come down.
The highend home market in Saratoga continues to suffer. Sales are half last years numbers and inventory is doubled. A sure sign prices are going to come down.
Los Altos is no different. Double the inventory and only half the number of home sales compared to last years numbers. More price drops in Los Altos.