Sue McAllister has written a good article in today’s Mercury News entitled “10 things to know about Silicon Valley real estate – right now” , which underscores my frequent statement that real estate trends are usually about very localized micro-markets where some are “hot” and some are not.  I also agree with her advice regarding lending trends , short sales and auctions.

My analysis indicates that as of March 3, 2008 Palo Alto, Mountain View, Cupertino, Los Altos, Sunnyvale and Campbell are “Sellers Markets” and the rest are not.  Fourteen of the twenty-four market areas I monitor in Santa Clara County show and upward trend toward a better balance between demand and supply (the current absorption rate of open escrows relative to total inventory available for sale); six are in a downward trend with increasing inventory and slowing absorption. 

Call Rick Bonetti at 408-857-8800 if you would like me to email you the list.