We are in a great market! Does the world seem slow…especially with all this talk of recession and inflation? It’s a matter of attitude in the real estate world.
My current listing sold faster than the old “normal,” and my current buyer had but one competitor, who dropped out of the race before we put his offer in. This is normal real estate, not what we went through in 2021 and the beginning of 2022, which was NOT normal.
We have had an unusually low inventory of available residential properties for sale, which we usually don’t see until December. This past week, the active number has been under 1,450 units in Santa Clara County. TOTAL! The agents in my office are working on quite a few listings for the spring market (some of those could be active as early as January), so I’m feeling that this low inventory will cure itself after the holidays.
Whether you need to buy or sell, this is a good time. If you want to get ready for the spring market as a buyer, it’s easier now to talk with the lender, or as a seller, it’s easier to get an inspector’s appointment now, when they aren’t quite so busy. This is better.
Check out the latest Santa Clara County stats below. Both the median and the average sales prices for the month of October 2022 are lower than October 2021.
Single Family Homes
Condos and Townhouses
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