2011 vs 2012...
2012 has been a year marked by multiple offers, competitive bids, and rising prices. A seller’s market for sure.
The economy in the Valley is definitely a factor to this situation, as is the lack of inventory – too few homes for sale. There are some short sales and foreclosures, as expected and -alas- promised for the past 2 years. However they are absorbed by a strong pool of buyers, either individuals or investors, who believe in the health and future of real estate in the Silicon Valley.
There is definitely a different trend towards the end of the year, as compared with last year, as evidenced by these graphs that I just made – below we see what last year’s trend was towards the end of the year, and what it is pointing to right now, in 2012:
Thanks for reading!