How's the real estate market in Silicon Valley? One way of knowing is to keep a pulse on the number of short sale listings.
Los Gatos, Saratoga, Monte Sereno, Cupertino, and Los Altos all continue to feature very few short sale listings, and these markets remain stronger. They are still "buyer's markets", as is all of Siicon Valley, but prices are rising even as the number of sales is low.
In Silicon Valley's entry level real estate market, though, such as Blossom Valley, east San Jose, south county and south San Jose, is another story. There, it is a deep buyer's market. Prices are dropping. Blossom Valley's home values have been plummeting in recent months.
Where there are a lot of short sales, values decline. Where there aren't many short sales, prices appear to be holding or rising.
But the good news is this for all of Santa Clara County: overall, it does not appear that there is a sharp increase in the number of short sales for now. Have a look at this week's snapshot of Silicon Valley short sales and see. It is fairly flat overall. Perhaps the worst of it is behind us?
| Active Listings of Short Sale Single Family Homes, Condos, Townhouses |
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3/26/08 |
4/8/08 |
4/15/08 |
4/22/08 |
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| Los Gatos |
5 |
8 |
9 |
9 |
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| Monte Sereno |
1 |
0 |
0 |
0 |
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| Saratoga |
0 |
0 |
1 |
1 |
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| Los Gatos Mtns |
3 |
2 |
3 |
2 |
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| Cambrian Park |
59 |
73 |
53 |
54 |
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| Santa Clara |
56 |
68 |
59 |
60 |
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| Campbell |
13 |
23 |
28 |
19 |
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| Cupertino |
1 |
3 |
2 |
2 |
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| Los Altos |
0 |
1 |
1 |
2 |
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| Sunnyvale |
50 |
69 |
54 |
59 |
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| Blossom Valley |
196 |
251 |
200 |
202 |
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| San Jose (all) |
1534 |
1882 |
1667 |
1674 |
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Live in Los Gatos:
A blog about Los Gatos real estate, homes, houses, condos, townhomes, housing market, neightborhoods, history, events, businesses, parks, schools, photos, issues, and lifestyle.
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