The Santa Clara market tightened up for the last month of the year, as home inventory dropped, which is typical for the holiday season. There were very little new listings and many homes that had been sitting on the market were finally sold and will be closing in January. Moving forward to expect home inventory to expand. Generally buying activity is pretty hot in the beginning months of the year, as inventory is ramping up.
Prices have settled further down and activity is still slower as home buyers are taking their time. Home inventory has started to drop, which is typical for the holiday season. Look for prices to stay relatively firm for the holidays, as inventory continues to drop as less homes are listed, and buyer’s absorb what good options are left.