On September 17, Federal Reserve Chairman Ben Bernanke said that the worst recession since the 1930s “is very likely over” — and he was backed up by reports showing unexpected increases in retail sales and producer prices.
For poeple live and work in Santa Clara county, you can certainly add another strong evidence: mulpital offers are back, especially for houses fairly priced and in good school districts.
Here are a few examples:
- 6570 DARTMOOR WY, San Jose 95129 Lynbrook High School – List price is 924,900. There are almost twenty offers received with a winning bid of 970,000 with zero contingency.
- 5068 CAPISTRANO AV, San Jose 95129 Cupertino High School – List price is 775,000 and winning bid is 785,000
- 2746 Glorietta Cir, Santa Clara 95051 Cupertino High School – List price is 948,000. Again mulitple offers with sales price at 950,000
Another major change I noticed is that the inventory level is low, with some areas having inventory level less than three months. Five month inventory level is a buyer-seller balanced market. Inventory levle lower than five months is a sign of seller’s market. For example, the inventory level in 95129 area is at 1.7 months as of Sept 18, in 95051 area, this number is 2.32 months.
If you would like to have a list of transaction details for houses sold within one month or get a monthly update of housing inventory level in your neighbourhood, email me or call me
