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:

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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Santa Clara Valley Living » los altos home inventory

Santa Clara Valley Home Inventory

Weekly Real Estate Market Update