Santa Clara County Housing Inventory Remains Low but Supply is Increasing
On April 1st, there were 1250 active listings in Santa Clara County, of that the single family homes were at 971 and condos/townhomes were 279. There has been a healthy increase each month since the beginning of the year. We effectively had a 25% increase in the number of listings in one month! This is giving buyers a slightly higher supply to choose from. We have a county of 1.8 million people so 1250 available homes is still a drop in the bucket.
Due to the increase in inventory, pending sales have gone up by 60%. That is an incredible change for the year as we were struggle with no homes for buyers. Closed sales in April should reflect all the activity going on this last month.
What does this mean to you?
It is still an ultra-hot market for homes under the $1,000,000 mark. Only 25% of all homes are under the median price of a home in Santa Clara County. It is important for all price levels to have a knowledgeable Realtor to guide you.
Locally, we have been graced with lots of employment, especially in the tech area, so there is a lot of competition for places with good schools and those close to work areas.
As a seller, you can reap the rewards of this good market. Proper pricing of the home is key. With the increased inventory, if you try to be greedy you can be one of the homes that will sit on the market. How much your home sells for can be greatly improved with proper guidance on how to prep and market your home.
For area market conditions go to: http://www3.realtytimes.com/209/patchadwell
I am daily in the trenches with real estate. I have just started my 32nd year in real estates and have experienced many ups and downs in Real Estate.
For more information on this local market, call 855-927-6565 or email me at email@example.com. Pat Chadwell, Broker, CRS, ePro, SRES. I have 32 years helping clients with their Real Estate needs.