Santa Clara County Market Conditions for January 2018 for Single Family Homes
The trend that we saw in 2017 continues or gets even more severe as we enter 2018. Depending on which side you are on, it could be a fantastic year for sellers and a very challenging one for buyers.
Inventory levels continues to decline sharply while prices rise slightly for the last month of the year. The market continues to gobble up inventory nearly at twice the rate at which they come on market.
Active listings 271 461
Pending 515 758
Days of Inventory 12 17
Median price $1,293,690 $1,288,500
Santa Clara County Market Conditions for January 2018 for Condos/TownHouses
The situation with common interest developments seem to be even more dire as the demand from first time homeowners out-strip inventory. Yes, this is the slowest month of the year, but, I have never seen days of inventory as low as 3 days. Demand is ridiculous.
For investors who have condos, this is probably the best time to sell. Look at the crazy level of demand. When can we see 3 days of inventory ever again?