In 2013 there were 1,071 New Listings for single family residences that were less than 20 years old. By comparison, there were 971 in 2012 and 1,164 in 2011. So the supply of listings is relatively consistent.
Last year we had a lot of Buyers in the market that resulted in a lot of homes selling in 1-2 weekends. You need be on your game to compete against the other Buyers. Work with a Realtor and a Lender that can prepare and market you to Sellers and their agents.
Two parts to your questions of less than 20 years.
** New constructions, yes there quite a few new construction projects, single family and Town Homes projects coming up. Some are under construction, releases are expected in spring and summer.
A few ready to move in are also available, albeit from time to time.
You need to be in touch with the builders or your realtor. I could help you.
** Existing home less than 20 years. This will become an part of the overall inventory. The inventory does not have a separate stats depending on ages of home, for e.g. age brackets, less than 5 years, or more than 10 years or any such bracket.
Generally speaking the inventory is expected to rise, but not where near the inventory figures in the peak years.
Inventory supply, and sales / contracts, dictate the type of market, a Sellers Market or a Buyers Market.
Parts of San Jose, will see an increase, but the market will continue to be a sellers market.
Remain in touch with your Realtor, or I could help you.
As for 20 years or less, the amount of those homes are few. Yes, there is new construction, but those come at a premium, and there will be compromises to be made, either in attached, lot size, and school district.
If you find something you like I would not wait.as the future is unpredictable.
All the best to you.
If you are referring to single family detached homes that are less than 20 years old or brand new, I think the answer is mixed. Certainly some single family homes will be available for resale by their current owners this year, but don't expect homes to be built that are detached single family homes under $1 million in the valley at this time. Condominiums and attached housing are being built with additional property scheduled for build as early as this spring. If you're interested in buying, however, my suggestion is to move quickly. At present, every available plot of land has been purchased by developers and once that runs out, housing here will be as scarce as even the largest cities. I do not expect home prices to decrease since the need for housing currently (and in the foreseeable future) eclipses available supply. Of course well know more in a few months, but for now, my suggestion is to find a good agent, get financing together and begin looking if you are interested in this area. Good luck!
Top 2 agent nationwide at Keller Williams Realty, the nations largest
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Over 1,000 homes sold in Santa Clara County and San Mateo County