It is apparent that below $400000 , the sales are very brisk and the supply cannot even catch up with the demand. However above 3 million, we have a glut of homes . Out of 138 total listings only 22 were listed as sales thus we have now a supply of 6 months which is not as bad as in Santa Clara for the high priced  market where we have a 13 month supply of homes above 3 Million.The reason for this is that financing is not as easy to get as banks are very gun shy.Already burnt badly , they do not want to take a chance.Already Bank of America is going to reduce Conforming loan limit  from July 1 even though FHA loan limits are not going to change till Oct. 1, 2011
San Mateo County  For The Month of May, 2011
Single Family Homes
Range Active Pending Sale Ratio
3 Million to 30 Million 116 22 5.27
2 Million to 3 Mil 75 18 4.17
1Mil to 2 Mil 291 147 1.98
900k to 1 Mil 82 39 2.10
800k -900K 87 53 1.64
700K to 800K 110 74 1.49
600K-700K 116 71 1.63
500K-600K 162 117 1.38
400K-500K 206 199 1.04
300K-400K 100 117 0.85
200K-300K 29 99 0.29
100K-200K 4 21 0.19
 

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Kenkapur2

Ken Kapur

San Jose, CA

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