What a week for home sales across the Santa Clara County west valley area. You can see the numbers below in Santa Clara, Sunnyvale, Cupertino and even the highend markets has started to bounce back. It is very evident that sales have picked up and inventory has started to drop across the board. The conditions of low interest rates, lower property values, not sure the $8,000 tax credit is influencing much in this area, but perhaps the largest is the change in consumer confidence.
Santa Clara homes continue to sell in higer numbers and inventory now is down to below 140 homes. Cupertino, Sunnyvale, and even Mountain View inventory has dropped these past weeks.
Even the high end market has seen a bit of improvement on inventory. Sales haven’t been increasing like the lower end just fewer properties comming on the market.
In the typical Santa Clara County real estate cycle sales will start to taper off in the summer months through winter, it will be interesting to see if this year follows that pattern or if the bargin hunters will continue on to the rest of the year.