Spring is In the Air for Silicon Valley and the Numbers Are Looking Good

Spring is looking good for residents of Santa Clara County, Los Altos and Los Altos Hills. With a promising and healthy trend of balanced numbers on the scale of homes for sale vs. homes fresh off the market, there is much to look forward to as we roll into the warmer months of Spring and Summer. Here are the latest stats that show some very good activity on the market.

Santa Clara County

In the last 30 days, we’ve had 2200 homes come on the market and 1815 roll off, either having gone under contract or in pending status awaiting finalization. These numbers show a solid average of about one to one in terms of houses sold versus houses entering the market.

Single-family homes, condominiums and townhomes are showing some strong numbers at the present time, with 4701 properties on the market – a very normal number for this time of year. The number of closings we’ve seen are 949 – which is a fairly good number of closing transactions for this time of year, promising quite a healthy outlook in the near future.

Los Altos

Even stronger than Santa Clara County, Los Altos had a total of 49 properties actively listed for sale, 33 pending sales and 13 properties that closed out last month. While the number of closings is lower than the average figure, pending sales and listings are yielding a very strong 1.5 to 1 average ratio of homes for sale vs. homes that are selling.

The bottom line in this market is that things are moving right along, at or above par, and the trends are pointing up.

Lost Altos Hills

Out of 41 active listings with only 12 pending sales, the ratio of homes listed versus homes selling or sold is a weaker one at almost four to one. The low number of six closings from last month indicates a slower than average trend but then this makes sense given the higher average price of properties in Los Altos Hills.

No matter how you slice it, the overall Spring trend in Silicon Valley looks good. Healthy ratios of homes listed versus homes pending sale make this market a promising one, especially for sellers. By leveraging the low inventory as opposed to high numbers of buyers in the area, homeowners can greatly benefit from the current market trends. The important thing to remember is that regardless of many people’s trepidation about the current market, the outlook is looking up and is looking good!