The Santa Clara Real Estate Market Update
By Mary Pope-Handy, CRS, CIPS, ABR, SRES, Silicon Valley
(Christie's International Real Estate Sereno)
The housing market in Santa Clara, CA, is showing some signs of improvement. Let's first look at the monthly absorption rate, which is a ratio between current inventory and closed sales during the month. It's a way of understanding the health of the market and is a hypothetical figure of how fast the current inventory would be sold off if no new homes came on the market and properties continued to close escrow at the present rate. The absorption rates for condos and houses in Santa Clara, graphed below, shows that single family homes have enjoyed a rate of less than 6 months over most of the year, which is quite good given the overall real estate market in Silicon Valley. (The National Association of Realtos says that under 6 months is a sellers market and over 6 months is a buyers mark...
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