Santa Clara Valley Living » real estate statistics

Santa Clara County Home Inventory

vbrasil — Fri, 29 May 2009 17:45:12 +0000

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.Similar Posts:

Santa Clara Valley Home Inventory

vbrasil — Sat, 16 May 2009 14:57:17 +0000

Time to review the number of home for sale and recently sold in the Santa Clara Valley. Inspite of the recent increase in buying activity home inventory continues to increase in certain markets in the Santa Clara Valley mainly the high end market while other markets are experiencing a drop in inventory. Much of this is attributed to a drop in foreclosures being listed and a rejuvenated market with considerable buyer interest from the beginning of the year. With alot of talk about the market bottom its interesting to see what will happen to inventory in the summer months and fall. Time will only tell.

Santa Clara continues to have a high level of homes sales weekly and inventory has fallen this year from a 200 home high to a current level of 150 homes on the market, a 40% decrease over last year’s inventory levels for Santa Clara.

Sunnyvale’s home inventory levels have also been improving. Weekly sales are strong in line with last years levels. Inventory has finally started to taper down.

Cupertino has experienced a rise in weekly sales in the last month that have helped inventory levels stabalize. Inventory is still about 60% higher than later years levels. This is a market that hasn’t been widely affected by foreclosures, REO’s and short sales so therefore the foreclosures moratorium has had little affect on inventory.

Mountain View inventory levels are still rising and sales are still behind last years levels. Inventory is about 30% higher this year than last year. Mountain is a unique market whose single family homes can range from $600K to $1.3 million. Still not a lot of foreclosures in the area and therefore not a significant drop in inventory levels due to the moratoria.

Saratoga home inventory levels have started to stabalized. Sales have increased over the beginning of the year and are consistent with last years figures. Inventory is still 70% higher than last years levels.

With inventory levels 100% higher than last year’s figures and sales around half of what was sold last year that is significant change in the market for Los Altos. Los Altos another is area not affected by foreclosures and bank owned homes, the rise in inventory here is due to a lack of buying interest.

The super high end Los Altos Hills has experienced some increased activity but still behind last years levels. Most of the correlation here deals with stocks and NASDAQ levels. Since the stock indexes have improved since the beginning of the year we have seen a slight improvement in this market.Similar Posts:

Santa Clara County New Listings and Sold Listings

vbrasil — Sun, 03 May 2009 21:12:23 +0000

These graphs show the weekly absorption of home sales and new listings that have come on the market. This is a very interesting statistic to follow. I have been following this statistic closely because I feel it tells you the whole story behind inventory. Are listings selling or not selling and are they keeping up with the rate of new listings. Well we are going to answer those questions for the Western Santa Clara Valley cities of Palo Alto, Mountain View, Sunnyvale, Santa Clara, Saratoga, and Sunnyvale.

There have been 9 to 10 new listings a week coming on to the Cupertino market and between 5 and 6 homes selling in the last few weeks. I appears that buyers have stepped up efforts in the last three weeks. Also the rate of new Cupertino home listings has recently slowed. Although inventory should still be climbing the increase is staring to slow.

There have been between 10 and 11 new listings a week recently on to the Los Altos home market and between 5 and 6 homes selling in the last few weeks. Thats alto better than most high end home market it still makes for a slow market. If you have been following the Los Altos home market you probably have noticed price reductions and lower priced listings.

Similar to Los Altos, Mountain View has also experienced an increase of buyer activity in the spring. Although not keeping up with new listings, Mountain View has about 5 to 6 homes selling a week and 8 to 9 new home listings.

Probably one of the biggest shifts in the market is the Palo Alto home market. Right around this time last year there were about 14 to 15 homes selling a week in Palo Alto compared to 8 and 9. These last few weeks have made up some lost time in Palo Alto.

Saratoga much like the other high end markets have seen a recent increase in sales, but definitely down from the previous years numbers.

Santa Clara is actually performing quite well with its sales numbers. Prices have come down in the area and have already stabilized and buyers are entering the market. New Santa Clara home listings are around last years numbers or a bit down, and sales are higher this year.

New Sunnyvale listings are down from last years number and sales are more down from last years.

Certainly we are experiencing better buyer activity in recent weeks and the rate of new listings has started to peak. I’ll be reviewing these figures on a weekly basis to evaluate the progress of the local Santa Clara Valley Market.Similar Posts:

Los Altos, Saratoga, Santa Clara, Sunnyvale, and Mountain View March Home Sales

vbrasil — Mon, 06 Apr 2009 18:18:31 +0000

I haven’t reviewed inventory levels in a some weeks and with the increased activity of the market I am curious to see how the different areas such as Cupertino, Santa Clara, Saratoga, Mountain View, Sunnyvale and Los Altos are performing.

Cupertino had a busy week with 16 pending sales of single family homes. Compare to last years levels for the month of March there were 57 homes sold in March compared with 49 for 2009. Still slower than last year but a good week. Cupertino inventory is still rising but dropped in the last week of March.

Mountain View traditionally has low inventory. Compare to last years levels for the month of March there were 22 homes sold in March compared with 29 for 2009. Things are picking up in Mountain View for March a good indication that things are not as bad as previously thought.

Sunnyvale had a busy month with 64 pending sales of single family homes. Slightly lower compared to last years levels of 66 homes sold in March. Still slower than last year but showing activity. Sunnyvale inventory staying steady in the mid 100′s.

Saratoga had a busy week with 7 pending sales of single family homes. Compare to last years levels for the month of March there were 48 homes sold in March compared with 21 for 2009. Considerably slower than last year. Saratoga home inventory is still rising.

Santa Clara is very active. Santa Clara had a busy week with 80 pending sales of single family homes. Compare to last years levels for 70 homes sold in March. Inventory has dropped from 190 homes to mid 170′s.

Los Altos is still struggling. 12 pending sales of single family homes in Los Altos in March. Compared to last years levels for the month of March there were 30 homes sold. Quite a difference as buyers are still holding out for better prices in Los Altos.Similar Posts:

Rivermark Homes, Town Homes and Statistics

vbrasil — Thu, 26 Mar 2009 14:39:48 +0000

I’ve been writing quite a bit about the Rivermark Development in Santa Clara. There is just a tremendous amount of shift and dynamic in that development right now compared to other neighborhoods. Primary due to the numerous transactions in the past 5 years. Today I wanted to post some information for you to see the homes sales in Rivermark and active listings in Rivermark.

The links below will provide you the active, pending and recently sold homes in Rivermark, Santa Clara.

Rivermark Sold, Pending, and Active Single Family Homes

Rivermark Sold, Pending, and Active Townhomes

For the folks that like statistics and market trends I have a comprehensive report for the 95054 area of Santa Clara.

Rivermark Home Sales Statistics

Rivermark Town home Sales Statistics

Rivermark Townhome Sales – Market Update

Rivermark Single Family Home SalesSimilar Posts:

Days On Market Increasing in the Valley

vbrasil — Sat, 28 Feb 2009 23:12:47 +0000

I have been analyzing inventory lately to gauge the health of the real estate market in various cities in the Santa Clara Valley. While analyzing inventory is important its also important to see the effects of inventory increase on the amount of time that listings are siting on the market. These graphs compare this the most recent past 12 months inventory levels in Santa Clara, Sunnyvale, Mountain View, Saratoga, Los Altos and Palo Alto over the 12 months prior to enable us to make some comparisons.

As you can see the patterns for Santa Clara are almost identical. The main difference of course is the number of days which has increased about 50%. For Santa Clara sellers out there that means on average it will take you half the amount of time more than what it took to sell a home last year at a price adjusted for today’s market.

One thing to keep in mind is that this chart is about 2 months delayed. What we can gather is that average days on market are lower this time of year than the rest of the year and should be trending downward. As we approach the summer months we should see Average Days on Market begin to trend upward.

In the Sunnyvale housing market we see a similar trend upward. There are a few differences from the previous year graph. One was there was a large dip in the average days on market that occured in the summer of 2007. Also right around this time last year the days one market was starting to taper down, and this year it is increasing. Sure sign of a market slow down and downward facing prices.

The Mountain View real estate market experienced a similar average days on market drop in the summer of 2007. Although the past two years have experienced similar patterns the two graphs diverge around the summer time last year. Typicially you will see average days on market increasing in the summer to fall time of year. This years level is roughly 30% higher than last year.

Saratoga has seen a drastic change in the average days on Market. Typically we would see the days on market decreasing in the spring time, but it is increasing and increasing rapidly. A sure sign that values should be decreasing in Saratoga.

Similar to Saratoga the Los Altos days on market is also increasing at a rapid rate. Typically days on market would be tappering down into spring and increasing in the summer. The market shift has caused it to continue to increase and will result in further price drops for Los Altos.

Out of all of the graphs Palo Also days on Market does seem like the most normal. However, again we see the increase in days on market this year that we didn’t experience in last years market. The graphs seems to be just starting to taper down.

How will the days on market affect prices? As days on market increases expect sellers to drop their listing price to get their property sold. Buyers are also less apt to pay full price and want to negotiate the prices down. Some sellers will react differently and cancel their listing to hold out for a better market and therefore decrease the amount of inventory.

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Weekly Real Estate Market Update

vbrasil — Sat, 21 Feb 2009 23:27:15 +0000

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.

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Home Inventory Update Santa Clara County

vbrasil — Wed, 11 Feb 2009 15:29:16 +0000

	The Santa Clara home market sales continues to perform better than last years numbers. So far this year 61 homes have sold versus last year’s 38 during the same time period. Inventory numbers are about the same across the boad, and will start picking up. More likely to see some further price decreases, but not signification price decreases for Santa Clara homes.
	Sunnyvale numbers are not too far off from last year. Sunnyvale got off to a great start but has slowed down in the last two weeks. Also inventory just a about 10% over last years figures. Again expect some more price drops as inventory climbs and days on market increases.
	Mountain View we see quite a large increase in inventory. Comparatively speaking Mountain View has low inventory numbers but they are about 40% up from last year. Sales are down as well. Indication that Mountain View prices have not dropped significantly.
	Moving on to the higher end we see double the inventory in Los Altos and roughly half the sales. Los Altos will need a likely drop in prices to move inventory.
	Much like Los Altos, Saratoga is experiencing the same phenomenon. Double the inventory half the sales. Certainly not a good start for Saratoga and will likely see some significant price drops this year.
	Cupertino has also experienced a slow down. Inventory has doubled and sales are half of what last years numbers were. Although inventory is much higher sales are about steady. Expect prices to drop further in Cupertino.
	Los Gatos inventory is over 50% higher than last year’s numbers. Sales however have been very consistent with last year’s sales. As inventory increases expect the prices to come down. Continue to monitor these numbers for price performance in Santa Clara County

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Real Estate Market Update

vbrasil — Mon, 02 Feb 2009 15:44:45 +0000

Time to take a hard look at the beginning numbers this year and see what we can tell about the market. For those of you who are not aware, inventory is a big factor in price performance and home values. As inventory increases and buyers are unable to keep up with the supply of homes entering the market, prices begin to fall, as anxious sellers feel the immanent price drops.

Looking at the Cupertino home market this time last year we see big changes in active inventory. Currently Cupertino has 2 times the inventory that it had in the preceding year. You would hope to see that pending sales for the week increasing, but it appears that they are in line with last year’s figures. This may indicate that sellers are holding firm at their prices and buyers are sitting tight waiting for price reductions. If this continues on we can expect the Cupertino home market so see some further price decreases.

Looking at the Santa Clara home market we actually experienced a decline in inventory from last year’s levels. We also see that pending sales for the week are higher than 2008. Santa Clara has seen some significant price drops in 2008, about 10%-15% overall. If this trend continues we can expect to see some stabilization in the home prices in that market.

Looking at the Sunnyvale home market we see some increases in inventory over last year’s levels. We also see that pending sales have also increased. Sunnyvale is a unique market due to the different areas and price ranges. Sunnyvale real estate has low-end markets and markets that reach up into the 1.4 million dollar price range. A more accurate approach would be to see how these submarkets are performing to get a real picture of what is happening in Sunnyvale.

Moving on to the higher-end in Los Altos we see a much larger and more drastic change from last year. Inventory has more than doubled, and sales have dropped more than half. Another indication that sellers are holding firm and prices have not come down enough to reflect real values. We can certainly expect some drops in the Los Altos home market.

Los Gatos is a mixture of high-end and upper middle class housing. Inventory is certainly higher but not double in number over last year’s figures. Also sales for the month have not increased over last year’s levels. This is another market were you should look inside to be able to tell the real story of whats going on in the different submarkets. Either way with inventory increasing and sales staying roughly the same, expect more price drops in Los Gatos.

It’s already starting out to be a busy year in real estate based on the number. Sales are up overall as buyers are cashing in on good deals. Stay tuned for the next update.

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Inventory: Its Growing in Santa Clara County

vbrasil — Sun, 25 Jan 2009 04:01:13 +0000

They key to spotting a market bottom is by following the home inventory levels of a specific market. Once the inventory of homes reaches a top and starts to declince that means the buyers are beginning to overtake the sellers, and hence supply and demand are changing. Here we take a look at the recent historical level of inventory in a few areas of the Santa Clara Valley.

Home inventory levels for Santa Clara have been climbing every year since 2005. Levels top off in the summer forming a plateau, typical of the real estate cycle we experience here in Santa Clara Valley. Every subsequent year the number of unsold homes have carries over increasing the number of homes for sale in Santa Clara. In 2007 we experienced a large increase of Inventory. As the average humber of homes increase, so does the average days on market, and prices begin to drop.

Sunnyvale’s home inventory performance is similar to Santa Clara. Again inventory levels rise, toping out in the summer and then falling in the Winter. Home inventory levels have remained fairly stable through 2005 and 2007, but in 2008 average inventory of homes in Sunnyvale stayed steady over the winter, and increased substantially in 2008.

Cupertino home inventory stayed stable in 2005 and 2006, and actually dropped in 2007. Again we notice the plateaus in the summer months followed by steep drops in the winter. Home inventory levels have returned to 2005 and 2006 highs.

If we look at Los Altos and Saratoga home inventory charts we see similar patternes to Cupertino. With average home inventory dropping in 2007 and increasing in 2008. This we can attribute to the higher end or luxury home market performance in 2007 which can be closely tied to the NASDAQ which also peaked in 2007.

Monitoring these inventory levels and when they start to change will be the first step in determining the real estate market bottom for the Santa Clara Valley.

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