The LocalVector Team would like to wish you a happy new year. We look forward to becoming your go-to online Real Estate resource in 2013!
Low Inventory on Bay Area Housing
For the past few weeks, LocalVector has been tracking a trend of diminishing inventory within the Bay Area housing market. You can see earlier references to this trend in our December 24th blog post here.
It seems this trend has continued into the new year. As of January 3rd we have observed further decline in residential inventory. Currently there are only 1986 residential properties listed on the open market. Compared to the 2246 that were listed December 23, 2012.
How Low Inventory Effects the Market
There are a myriad of different factors that can influence the Real Estate Market. Seasonal trends, cyclical trends, and economic ebbs and flows all can have an effect on the behavior of a market at a given time. The LocalVector.com Sell Page discusses these trends in detail.
However one factor that is always affecting the market is supply and demand. As supply lowers and demand remains constant, we expect to observe an increase in prices due to low availability.
Due to the seasonality of the Bay Area Real Estate market we can expect new inventory be introduced to the market as we start approaching spring.
Current Bay Area Real Estate Market Inventory by County
|County||Active Listings December||Active Listings January|
|Santa Clara County||751||652|
|San Mateo County||457||370|
|Santa Cruz County||430||402|
If you have any questions about the current state of the Bay Area Housing market, and how it might affect your real estate search feel free to contact us directly at LocalVector.com