Hot sellers marketWhat does it mean when real estate professionals, journalists and consumers refer to a “hot seller’s market“?  Simply put, it means there’s an imbalance in the market which is very much in the seller’s favor.  In terms of supply and demand, it translates to far more demand than available inventory for sale (supply). It’s a good time to sell, but a hard time to buy.

We measure or note the market conditions using a variety of data points;

  • days to sell (and days on market for all homes, including unsold)
  • sale price to list price ratio
  • absorption rate (months of inventory, weeks or days of inventory)
  • number of listings available vs pendings and recently closed homes
  • rapid rise in home sale prices, especially if to unsustainable levels
  • number of offers received on a property at once (multiple offers)
  • buyers upping their price and improving their terms voluntarily, without getting a counter offer
  • buyers writing offers with few or no contingencies, fast close of escrow or other extremely strong terms
  • overall market trends of inventory lessening, prices rising, buyers getting more desperate – how all of these look when viewed as a whole

While some of the above can be easily tracked on our multiple listing service, some are not findable anywhere except in conversations with real estate agents who are actively working the market, writing and receiving contracts.    What isn’t tracked includes the number of offers placed on a home for sale, whether buyers are engaging in “bidding war” tactics such as upping their price before even getting a counter offer, or offers with no contingencies.

Related reading:

A summary of tips for multiple-offer situations in Silicon Valley real estate contracts

Should you write an offer with no contingencies? What is the risk with a non-contingent offer?

Mistakes that buyers’ agents make which damage their clients’ chances of winning in multiple offers

  1. 3 beds, 2 full baths
    Home size: 1,372 sq ft
    Lot size: 5,793 sqft
  2. 4 beds, 2 full, 1 half baths
    Home size: 2,200 sq ft
    Lot size: 6,185 sqft
  3. 3 beds, 1 full bath
    Home size: 999 sq ft
    Lot size: 6,054 sqft
  4. 2 beds, 2 full, 1 half baths
    Home size: 1,832 sq ft
    Lot size: 2,439 sqft
  5. 2 beds, 2 full baths
    Home size: 1,086 sq ft
    Lot size: 1,332 sqft
  6. 5 beds, 2 full, 1 half baths
    Home size: 2,548 sq ft
    Lot size: 10,193 sqft
  7. 2 beds, 2 full, 1 half baths
    Home size: 1,579 sq ft
    Lot size: 1,045 sqft
  8. 4 beds, 3 full, 1 half baths
    Home size: 1,908 sq ft
    Lot size: 1,132 sqft
  9. 6 beds, 3 full baths
    Home size: 2,907 sq ft
    Lot size: 7,448 sqft
  10. 3 beds, 2 full baths
    Home size: 1,201 sq ft
    Lot size: 6,403 sqft

See all Real estate in the city of Sunnyvale.
(all data current as of 4/24/2017)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

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Mary Pope-Handy
Realtor
ABR, CIPS, CRS, SRES
Sereno Group Real Estate
214 Los Gatos-Saratoga Rd
Los Gatos, CA 95030
408 204-7673
Mary (at) PopeHandy.com
License# 01153805


Selling homes in
Silicon Valley:
Santa Clara County,
San Mateo County, and
Santa Cruz County.
:
Special focus on:
San Jose, Los Gatos,
Saratoga, Campbell,
Almaden Valley,
Cambrian Park.
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Valley Of Hearts Delight
Santa Clara County Real Estate,
with an interest in history

Move2SiliconValley.com
Silicon Valley relocation info

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Silicon Valley real estate,
focus on home selling

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Silicon Valley real estate
market trends & statistics
Mary’s Blog Awards
Top 25 real estate blogs 2016
2016: Personal Income's list of top 25 real estate blogs.


Best Realtor blog award
2016: Coastal Group OC's list of best Realtor blogs


The 2009 Sellsius list of top 12 women real estate bloggers
2009: Sellsius list of top
12 women real estate bloggers


Mary Pope-Handy's Live in Los Gatos blog won the 2007 Project Blogger contest, sponsored by Inman News and Active Rain

2007: Mary Pope-Handy and Frances Flynn Thorsen win the Project Blogger Contest for Mary's Live in Los Gatos blog. The contest was sponsored by
Active Rain and Inman News.


Non blog award


Best real estate agent in Silicon Valley from the San Jose Mercury News poll of readers in 2011
"Best real estate agent
in Silicon Valley"

2011 readers' poll,
San Jose Mercury News

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