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Low Inventory of Homes in Santa Clara County, and What This Can Mean For You!
The beginning of a new year brings New Year Resolutions. One of these resolutions may be to buy or sell a home. If you don’t know already, the homes available on the market in Santa Clara County are at an all time low. So what does this mean?
As you can see in the graph above, the number of homes available for sale has drastically decreased from July of 2014, dropping from 1415 to under 550 homes on the market. January of 2014 had a similar decrease to 575, but this is the lowest inventory I have ever seen!
What does this mean for you as a homebuyer? With a limited amount of homes on the market, there will be more buyer competition. This means that when you find a home you love, you need to put in a competitive offer as quickly as possible. This also means there will be less concessions offered by the sellers as they will likely have multiple offers to choose from.
What does this mean for you as a seller? With the limited amount of inventory, you will likely get your asking price or more. You will have multiple offers on your home, all of which will be competing with each other. This does not mean that you should up your price to something higher than your home is worth. This only means that listing your home for a fair and comparable price will bring in worthy buyers and your home should sell quickly.
With the low inventory in Santa Clara County, now is the time to list your home! We at Alain Pinel Realtors are here to help you with all of your real estate needs! If you are unsure what your options are, call Matt Tenczar at (408) 605-8124 or contact me via email. You can also visit us at our website for available listings and additional information.
5353 Almaden Expressway Suite 150, San Jose, CA 95118