How is the real estate market performing in 2019?

That is a question for those who believe we are in a down market. 

ARE WE??

Well that just depends on where you live.  Real estate is super localized as one can see from the data provided by MLS Listings. They compiled an overview of the different markets.  Overall inventory is increasing except in some markets such as Milpitas where inventory is down 24% in 2019 over 2018. Morgan Hill  inventory is slightly up (2% from 49 to 50) compared to 2018.

Just to summarize my super local market of Morgan Hill:

Inventory increase 2%

Days on Market decreased 16%

Median Sales Price increased 5%

Median price is still up in most markets in 2019 over 2018 except in Mountain View (-17%), Saratoga (-13%), Milpitas (-12%), Santa Clara (-9%), Sunnyvale (-6%) and San Jose (-5%). Morgan Hill and Gilroy had a 5% increase in median sales price.

The ratio Sales price to list price is down except in Los Altos Hills

Although Gilroy's day on market increased 138% Morgan Hill saw a decrease in the number of days by 16% before a property is in contract.