Our MLS provider, MLSListings.com, has not yet given us the statistics for September's closed sales in Silicon Valley, so I've done a little of the data work myself. Below, please see a graph displaying the "months of inventory" or "absorption rate" for Saratoga, California.

The National Association of Realtors uses 6 months as a benchmark for when it flips from one type of market to the other. Less than 6 months is considered a sellers market, and more is a buyers market. Saratoga real estate is very pricey and offers fantastic schools with exceptionally good API scores, so this area is nearly always in demand. While these numbers may be viewed favorably on the national scale, having more than about 4 months of inventory among single family homes feels like it's a buyers market. 

It really depends on the home, location, condition, and marketing/pricing as to whether a home will really take 5 months to sell. The best homes will go in 3-4 weeks, despite the average numbers.