Santa Clara County’s Active Real Estate Inventory is Miniscule

silverlake small frontWe have the lowest active inventory since 2006 when I started tracking local statistics.  The total of active single family homes, townhomes and condos was just 555 on January 2nd!  That is in a County with over 1.9 million people!  No wonder prices have been steadily increasing.   Last year was also low with 20 more than this year.  To give you some perspective – in 2008 there were more than 6000 listings. 

The number of active single family homes was 449 and condos/townhomes were 106. The number of active homes is about 45% lower than last month.

The number of homes and townhomes/condos that went into contract in December was 760. It was made up of 546 single family homes and 214 condos/ townhomes. The pending sales were down about 34% from November, due to the lack of inventory. 

December saw more closings than in November.  November was the first month that felt the effect of the new lending requirements rolled out in October.   The number of closed sales in December was 1133 (816 were single family homes and 317 were condo/ townhomes).  The closed sales were up 13% from last month and up 15% from last year’s figure. Find out more market conditions in specific areas in Santa Clara County.

What does this mean to you? If you are a buyer, you need to be ultra prepared and have a knowledgeable Realtor to guide you. As a seller, you can reap the rewards of this good market. How much your home sells for can be very improved with proper guidance on how to prep and market your home.

I am daily in the trenches with real estate. I have been through 31 years of ups and downs in Real Estate.

Understanding your options both in Real Estate and lending is critical now as guidelines have changed making the real estate market fluid. Want to know your options? Call me!

For more information on this local market, go to my website – 

Pat Chadwell,
Broker, CRS, ePro, SRES, CDPE, CIAS, SFR.
I have 31 years helping clients with their Real Estate needs.

Sunnyvale has a bright future

English: Two booths at Farmers market in Sunny...
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I wanted to start with the condo/townhome properties in Sunnyvale.  The stats are really impressive.  The number of condos/townhomes on the market is only 17, with pending sales for the last 30 days at 33 and closed sales in February were 21. From last year the active listings are down 72% and closed sales are up 30%!  These are great statistics. Continue reading

Where have all the listings gone?

Victorian Single Family Home
Victorian Single Family Home (Photo credit: dlichaw)

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. Continue reading

Sunnyvale Real Estate Holding Even

The number of active single family homes in Sunnyvale is 78, pending sales in the last 30 days were 49 and closed sales in January were 32. Out of the 9 areas that I report on Sunnyvale is running about even in all areas. This is really good news.

The price range for the active homes ranged from $349,000-$1,299,000. The median list price is $759,800.

The listing price range for the pending sales is $299,000-$1,250,000.

The number of condos/townhomes on the market is 62, with pending sales for the last 30 days at 27 and closed sales in January were 26. In the area of pending and closed sales Sunnyvale has had stellar statistics.

As of January 31st, in Santa Clara County the inventory for active listings of single family homes was 2283 and condo/townhomes is 1113. Totaling 3396 for both. Although the inventory continued to reduce from mid-September, there is a 26% increase in single family homes on the market over last year and 49% more condo/townhomes. These differences year over year are improving though.

The number of homes and townhome/condos that went into contract over the last 30 days was 1640 (single family – 1124, condo/townhome – 516). These numbers are about 33% higher than last year which is great news. The area of the biggest improvement was the condo/townhome sales.

The number of closed sales in January were 839 (626 were single family homes and 213 were condo/townhomes). The closed sales of single family homes was up 10% and the condo/townhomes almost even with last year sales.

To see Real Estate Market conditions for all 9 areas that I report on – click 

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Willow Glen Shines

Willow Glen has 130 active single family homes, pending sales for the last 30 days are at 47 and closed sales in March are 14.   Pending sales have stayed consistent all year. 

SNAP SHOT OF LAST YEAR:  Last year at this time there were 217 active home listings so we are doing way better today. Pending sales are up 74% over last year. Closed sales are up 56%.  Continue reading