This week one of my buyers asked me about the inventory levels in Santa Clara County (San Jose, specificially) and wondered if they’re lower than usual. I get this question a lot lately so wanted to present the numbers to the readers of this Valley of Hearts Delight Blog.
How low is the inventory? It’s way off from last year in most parts of the west valley. But remember, last year was unusual. (Below are the numbers for single family homes, or houses.)
|6 yr average||56||105||101||125||62|
How much is this year’s inventory off from the average of the last 6 years?
Almaden: down appx 10%
Cambrian: down appx 18%
Campbell: down appx 20%
Los Gatos: up appx 6%
Saratoga: up appx 38%
Once again, “easy answers” allude us.
If we were to push this further, we’d find that certain price points (or bands or strata) in the market are way above or below the typical numbers. It is very hard to generalize accurately. Anecdotally, though, it seems as though there’s very little on the market as far as my buyers are concerned (and right now, my buyers are looking at properties in Santa Clara County ranging from the 400s to between 1 and 2 million).
For information on your particular situation, please contact me.