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Buyers Market vs. Sellers Market Trends

Silicon Valley real estate is comprised of twenty four market areas. Based on an index of “pending sales” representing 25% or more of total inventory, here is a summary of whether each market area has a tendency to be more of a Buyers Market or Sellers Market:

1 Morgan Hill, San Martin, Gilroy – Buyers Market
2 Santa Teresa – Buyers Market
3 Evergreen – Buyers Market
4 Alum Rock – Buyers Market
5 Berryessa – Buyers Market
6 Milpitas – Buyers Market
7 Alviso – Buyers Market
8 Santa Clara – Buyers Market
9 Central San Jose – Buyers Market
10 Willow Glen – Buyers Market
11 South San Jose – Buyers Market
12 Blossom Valley – Buyers Market
13 Almaden – Sellers Market
14 Cambrian – Buyers Market
15 Campbell – Buyers Market
16 Los Gatos & Monte Sereno – Buyers Market
17 Saratoga – Sellers Market
18 Cupertino – Sellers Market
19 Sunnyvale – Sellers Market
23 Los Gatos Mountains – Buyers Market
200-210 Mountain View – Sellers Market
211-214 Los Altos – Sellers Market
221 – Los Altos Hills – Buyers Market
230-240 Palo Altos – Sellers Market

Above is ”snapshot” of the variations in Silicon Valley real estate markets as of 11/28/07.  This analysis is a very “rough cut”, indicating overall trends or tendencies toward being either a Buyers Market of Sellers Market. 

It sets into perspective what could be considered “normal” and the variety of extremes. 

In reality, there are many “micro-submarkets” in local real estate, based largely on location and price.  So, while Saratoga is currently a strong “Sellers Market” for well-priced homes under $1.8 million, it is a “Buyers Market” in the $3-5 million price range with only 2 pending sales out 23 total properties in this price range.  Incidentally one of those pending sales is a $4.998 million newly-constructed home and the other is a $3.998 million two-acre parcel.

This variation underscores how important it is to have an experienced real estate professional interpret market data for your particular property and how misleading broad generalizations can be.   Please call me if you would like a spreadsheet of the data detail.