New listings in Sunnyvale and Cupertino over a 3 year period.
The cyclical seasonal trend tells us that between April and June each year many new listings are listed by sellers.
Comparing 2010 with 2011 and 2012, the annual number of new listings added to the market has been decreasing overall.
Comparing January and February in three years: 2011, 2012 and 2013 the number of new single family detached homes listed in Sunnyvale and Cupertino in those two months combined has been 186, 156 and 110 respectively. This amounts to a 30% decrease in new listings from last year.
Based on the data so far in March 2013, we are seeing an improvement in the inventory’s trend particularly in Sunnyvale.
One could speculate that we will see a lot of new listings to choose from by the middle of April.
This would be great news for buyers who are tired of the limited choices when looking for the right property for over one year in this market with limited inventory.