It’s a sizzling hot seller’s market in Silicon Valley, meaning the San Jose area, Santa Clara County and San Mateo County generally have critically low housing inventory and extremly strong buyer demand.  But it’s not equally hot in every city, area, school district or price point.  Some home buyers may be interested in more than one area.  For instance, often I have clients looking at both Almaden and Cupertino, or Cambrian (San Jose) and Campbell, or Los Gatos and Monte Sereno…. So if you are looking for a less crazed area in which to buy, it might be useful to compare the months of inventory* to see where it might be more possible to buy a home, especially if you’ve been beat out on multiple offers a few times.

Today we’ll just consider where these houses are located, but know that it is also possible to run the data by school district, pricing tier, sale type (regular vs short sale vs bank owned) whether or not there’s a pool or garage, etc.  I pulled the info from MLSListings.com and then ranked them from hottest to coolest.  (Not all areas are represented.)

Months of Inventory in Several Areas Comparing Silicon Valley

What can we learn from this information?  The first question might be “why are some areas selling so much faster than others?”  Although sometimes we can say that only inexpensive, moderate or expensive areas are moving fast, that doesn’t seem to be the case here.  Palo Alto is one of the priciest points nearby, and yet it has less than 3 weeks of inventory.    At other times we say “it’s all about the schools” but Santa Clara, which aside for a sliver served by Cupertino schools, is the #1 hottest segment of the market – and it is not highly prized for academics. (Same with Blossom Valley.)  Cupertino is usually at the top of the pile for desirability, but it’s behind several other communities.  What I’m seeing from this one angle is that there aren’t any easy answers, much as I’d like to present some clear cut trend with a big Ah Ha.

Although the underlying “why” may remain a mystery for right now, it’s still helpful for home buyers who are looking for relief.  Been beat out 5 or 10 times?  Your odds will be improved in the areas listed at the bottom of the sheet: Monte Sereno, Los Gatos, Saratoga, Almaden Valley are all just a bit easier places in which to buy.  They are all great communities with strong schools.  This kind of info could help you to move from frustrated shopper to happy home owner.

*Explanation of MOI or Months of Inventory

What is the Months of Inventory or MOI?   The months of inventory = the number of active listings (not under contract) divided by the number of listings which close escrow within 30 days. For instance, if there are 50  homes for sale now and 25 have sold & closed in the last month, that’s 2 months of inventory.  Five to six months is considered a balanced real estate market.  More is a buyer’s market, less a seller’s market.

  1. 4 beds, 2 baths
    Home size: 1,581 sq ft
    Lot size: 6,181 sqft
  2. 2 beds, 2 baths
    Home size: 1,138 sq ft
    Lot size: 435 sqft
  3. 3 beds, 3 baths
    Home size: 1,441 sq ft
    Lot size: 1,607 sqft
  4. 4 beds, 3 baths
    Home size: 2,186 sq ft
    Lot size: 5,000 sqft
  5. 2 beds, 2 baths
    Home size: 912 sq ft
    Lot size: 435 sqft
  6. 4 beds, 2 baths
    Home size: 1,681 sq ft
    Lot size: 5,998 sqft
  7. 4 beds, 2 baths
    Home size: 1,646 sq ft
    Lot size: 6,838 sqft
  8. 4 beds, 2 baths
    Home size: 1,868 sq ft
    Lot size: 5,096 sqft
  9. 4 beds, 2 baths
    Home size: 1,400 sq ft
    Lot size: 5,349 sqft
  10. 3 beds, 2 baths
    Home size: 1,505 sq ft
    Lot size: 7,200 sqft

See all Real estate in the Blossom Valley community.
(all data current as of 9/20/2017)

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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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.


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