Studying the months of inventory, or absorption rate, is a great way of seeing how the market is doing. It's a ratio of the active listings to the solds that month (or week or year). Today I took a look at a larger area of real estate than I normally study. Instead of looking at just Cambrian Park, Willow Glen, Almaden Valley, Blossom Valley, or West San Jose or somewhere else, I took a look at San Jose as a whole. There are nearly a million people in this sprawling city of Silicon Valley, and it includes all kinds of sub-markets.
What did I see?
Massive improvement. Have a look at the months of inventory for both single family homes and for condos and townhomes in the city of San Jose:
Isn't this dramatic and interesting?
But it's not being reported!
There's more to the story. . . . To read more, and to get more of the hard numbers and data, please continue reading An Overview of the San Jose Real Estate Market on my Valley of Hearts Delight blog.
Mary Pope-Handy, Realtor, CRS, ABR, e-PRO, SRES, ASP, RECS, CNHS, ACRE
Helping Nice Folks to Buy & Sell Homes Since 1993
Co-Author: "Get The Best Deal When Selling Your Home In Silicon Valley"
Keller Williams, Cupertino, CA (Silicon Valley)
877 397-5391 (Direct/Toll-Free/Fax); 408 204-7673 (Cell)
www.DelightHomes.com (PopeHandy.com)
emailto: Mary@PopeHandy.com
Blog: www.LiveInLosGatos.com & www.ValleyOfHeartsDelight.com
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Mary, I love your outside blog. I guess they're not reporting it because they only report doom and gloom---that's all I hear! And they generalize it not realizing real estate is LOCAL.