Here are my observations of the most recent July transactions for Santa Clara County real estate and San Mateo County real estate. Your comments and questions are always welcome. If you see something in your neighborhood that you are curious about or have a question, please don't hesitate to share with us. If you have questions or a comment, please leave them here, or feel free to contact me through my website or send me an email.
Inventory of Available Homes for Sale Continue at Low Levels -- There were just 1,328 single family residences for sale in Santa Clara County and just 598 in San Mateo County. Not record lows but each are about 55% lower than in July 2011.
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Apple's Campus of the Future - Courtesy Cupertino City Hall |
What's HOT and What's NOT -- In Santa Clara County, the hottest market area is Cupertino and Sunnyvale with a Days of Unsold Inventory (DUI) of 25. In San Mateo County, the hottest area is Foster City/Redwood Shores with a DUI of 27. What's not is Los Gatos/Saratoga in Santa Clara County with a DUI of 102 and the expensive areas of Menlo Park, Atherton, Portola Valley, Hillsborough and Woodside in San Mateo County with a DUI of 117.
Lender-Controlled Transactions Take a Dive --Last month the percentage of homes on the market that are lender-controlled (short sale and bank-owned) shrank to just 10% in both counties! That means 90% of the active status homes are regular or equity sales. Of course, this percentage will vary throughout each county depending upon the area.
Thanks for reading my blog. I'm Tom McEvoy, Realtor with RE/MAX Santa Clara Valley -- Let me know if you have any comments, questions, observations or any future topics you'd like me to address.This post first appeared on Behind The Real Estate Scenes In Silicon Valley, please read the originial post: here