Santa Clara County Real Estate Pendings Versus Actives
Date: Friday May 8, 2009Posted in: real estate, Santa Clara County, statistics, listings, pending sales, housing market
The graph above of Santa Clara County residential real estate transactions visually tells the story of our bumpy ride the past five years. At the far right of the graph, you’ll see 05/01/09. Notice how the pink line (pending single family residence listings) and the blue line (active single family listings) are approaching each other. That’s a good thing! We are approaching a much more balanced market.
Now notice one year previous, May of 2008. The blue and the pink line have a huge gap between them. Listings pending under contract were rarer at that time, but the active listings were plentiful. Can you say buyer’s market? Now glance back to the left of the graph for the years 2004, 2005 and roughly the first half of 2006. This shows that the pending sales were right on par with the active listings. Very much a seller’s market because there was a small supply of homes available and there was a large demand.
This graph tells the story visually of how market conditions effect can effect pricing, days on market and other real estate metrics.
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