The number of active listings in Santa Clara County jumped by a whopping 82% since March 31.Â As of July 2, 2013, active listings in Santa Clara County were 1629, of that the single family homes were 1209 and condos/townhomes were 420.
There are a number of reasons for this. Mainly, dramatically increasing prices enticing sellers into the market that had been waiting a long time to make their move and cyclical rising of inventory as the school year has ended.
The number of homes and townhome/condos that went into contract over the last 30 days was 1413 (single family - 920, condo/townhome - 493). This figure is lower than the March 31st time period and last June.Â This will be the area to watch to see if the market is staying strong or pulling back.
The number of closed sales in June were 1422 (1014 were single family homes and 408 were condo/ townhomes). The closed sales were 18% less than last year.
What does this mean to you? If you are a buyer you will have more choices and maybe less multiple offers on properties. As a seller you may reap the rewards of this improving market but you will need to watch your list price.Â It is important to have a knowledgeable Realtor more than ever.
Pat Chadwell, broker
Realty World - Residential Specialists
408-927-6565 x 11
CRS, SRES, CDPE, CIAS, ePro, SFR