Say – Where have all the listings gone? The inventory for active listings in Santa Clara County has dropped to 2007 units! That’s 1482 single family homes and 525 condos/townhomes. I don’t know if you felt that reduction in listings but these numbers are down 41% from last year’s figures.
The number of homes and townhome/condos that went into contract over the last 30 days was 1479 (single family – 1020, condo/townhome – 459). This figure was 10% less than last year.
The number of closed sales in January 2012 were 839 (612 were single family homes and 227 were condo/ townhomes). These closed sales were equal to last year!
Now activity for the month of February is beyond brisk for the lower end properties. Investors are out in droves paying cash for properties. You have the investors that would like to rehab properties and those that want to buy and hold.
What are you seeing in your neighborhood?
Pat Chadwell, Broker
Realty World – Residential Specialists