Inventory is down in all segments of the market in the Silicon Valley and multiple offers are driving prices up. However, there are still short sales, and in some areas they make up a good percentage of the homes for sale. Here are the numbers:
Palo Alto: Single Family Homes and Condos for Sale: 48 Short Sales: 0 Percentage: 0
Mountain View Single Family Homes and Condos For Sale: 39 Short Sales: 2 Percentage Short Sales: 5.1 %
Sunnyvale: Single Family Homes and Condos: 62 Short Sales: 10 Percentage Short Sales: 16%
Cupertino: Single Family Homes and Condos: 39 Short Sales: 1 Percentage Short Sales 2.5%
Santa Clara Single Family Homes and Condos: 58 Short Sales: 19 Percentage Short Sales: 32.8%
Milpitas Single Family Homes and Condos : 56 Short Sales: 23 Percentage Short Sales: 41%
San Jose Single Family Homes and Condos: 981 Short Sales: 237 Percetnage Short Sales: 24%
Morgan Hill: Single Family Homes and Condos: 119 Short Sales: 17 Percengtage of Short Sales: 14.2%
Gilroy Single Family Homes and Condos: 123 Short Sales: 38 Percentage Short Sales: 30.9%
So the ciites with the highest percentage of short sales are Milpitas with 41%, Santa Clara with 32.8%, and Gilroy with 30.9%.
If you have any questions about buying or selling short sales in Santa Clara or San Mateo County please feel free to contact me.
Keller Williams Realty