Statistics For Your Wednesday
Fresh off the Wednesday Broker tour for Blossom Valley, Cambrian and Almaden I thought I would share some relevant information regarding our current market place. We are currently experiencing a declining inventory. We are at 4038 properties available county wide which is down from last week. This is a normal trend as we are heading into the holidays, but we are holding our breath to see if any more bank owned properties will hit the market before the year end. Right now there are 257 unsold REO (bank owned) properties county wide. There is a healthy competition in the marketplace which is driving prices up a bit, but once more inventory hits our market we may expect to see a slight drop in values. Our slowest moving markets are still Willow Glen where 21% of the inventory is in contract and Los Gatos where 18% of the inventory is in contract. Our hottest markets are Cupertino where 43% of traditional sales are in contract and South San Jose where 57% of traditional sales are in contract.
Interest rates came up a bit in the beginning of this week, but dropped a bit yesterday and then again today. We are currently at 4.125% on a 30 year fixed, conforming loan amount, paying no points*.
If you are looking for any other specific market information, please feel free to contact me at 408-531-4469.
