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“Months of Inventory” is a good indicator of the relative supply/demand balance in a housing submarket. It is calculated by dividing the number of current listings on the market by the recent number of sales per month. A lower number is better than a higher number. Actual absorption varies greatly with price even within a submarket, so homes may be selling rapidly in a lower price band and slower in a higher price band. Nevertheless, it is clear that Cupertino, Mountain View and Sunnyvale are still very hot markets – despite inference you might read from the newspaper or TV! Here is a current snapshot in alphabetical order:
Almaden 4.9Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
Cambrian 6.3
Camptell 4.7Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
Cupertino 2.1
Los Altos 3.5Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
Los Altos Hills 13.8
Los Gatos 5.0Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
Mountain View 2.6
Santa Clara 4.0Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
Saratoga 5.5
Sunnyvale 2.8Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
Willow Glen 6.7