Deals take more work

All Data pulled from RE Infolink MLS Service.

Santa Clara County

Average Sales Price

Jan 2006      $903,022
Feb 2006      $939,605
March 2006  $942,976
April 2006    $950,308
May 2006     $965,495

May, Current Inventory 3,542
May, Number of closed sales 1,098
3.22 months of inventory

Cupertino (Area 18)

Average Sales Price
Jan 2006      $988,995
Feb 2006      $1,217,885
March 2006  $1,074,348
April 2006    $1,040,059
May 2006     $1,138,244

May, Current Inventory 118
May,  Number of closed sales 61
1.93 months of inventory.

Summary:   The average sales price for the county has gone up every month this year.

Homes are still far more scarce in Cupertino (1.93 months of inventory)  than for the overall county ( 3.22 months of inventory.)

Usually I comment on recent deals that happened in this blog.  But this month I need to comment on the deals that almost happened.  A huge trend is for buyers and sellers to be just a few thousand dollars apart and then the negotiating stalls.   Sellers are believing that a better deal will come in.  Buyers believe the next seller will be more generous.  Usually this ends up being a lose / lose situation.

So buyers, sellers and agents, keep hammering on those deals.  It may take more work in 2006 than in 2005 to tie together a transaction.  But in the long run, that extra work will be worth it for everyone involved.

Joseph Colgan
408 898 0186
Zip Realty
jcolgan@ziprealty.com
http://www.ziprealty.com/agent/jcolgan