Local (Southern Santa Clara County, Ca) inventory and sales continue to show some strength. Inventory is down with pending sales up in all segments except homes priced over $1M. Sales in Jan anf Feb were consistent with the past few months while selling prices were UP in all segments except homes priced over $1M.
As I have been saying for the past year, we have appeared to have hit the bottom on selling prices but have yet to see an upturn. Hopefully the Feb numbers portray the start of a new trend upwards!
The nationwide Case-Schiller Index is now reflecting this bottoming out in price.
As always, consult your local real estate professional if you have questions on your specific local market!
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