As of October 31st, in the Santa Clara County the inventory for active listings of single family homes was 2133 and condo/townhomes is 702. Totaling 2835 for both. The number of listings dropped by about 50% from last year at this time! The number of homes and townhome/condos that went into contract over the last 30 days was 1784. The number of closed sales in October is 1384 (1001 being homes and 383 being condo/townhomes). The condo market continues to struggle with changes to loans requirements (i.e. larger down payments needed, etc). Click here for specific areas in Santa Clara County
We are waiting to see if the home buyer’s credit gets extended. There is talk that it will be extended to long term homeowners rebuying. Wait for news on this one.