Why Real Estate Market Conditions Matter
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New home listings resilient in April despite economic volatility
Why Real Estate Market Conditions Matter
PROBATE AND ESTATE SALES
How your Home will be Marketed
Los Gatos Home of the Week
Santa Clara County Price Reductions
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April Listings Stay Strong
Just got back from the gym, but I wanted to knock this thing out real quick. Let's talk about how new home listings are resilient in April desi- despite economic volatility. Look, guys, uh, here's the thing: the majority of people understand that the market sucks and that's whatever, and a lot of them are going, "It's okay, I'm going to buy a house now because I have less competition."
Lots of houses are selling, right?
New home listings resilient in April despite economic volatility
Mindset and Pricing Reality
So don't get into the mindset of, "Oh, the market's dead, meh, meh, meh, I feel sorry for myself." It's not gonna help you. Get a mindset of, "We're finding the right person, and that's that. And it's just gonna take time, or we'll find it." It could be pricing. Remember when, when markets contract, so do house prices.
So there you go. In recessions it's a totally different thing, ' cause people decide to put their money into something that makes sense for them.
Inventory Up Buyers Engaged
Anyway, the hope was that sellers would continue homing-- coming to the market in a strong March pace, but that buyers would keep engaging despite the volatility. But by those measures, April delivered.
Yeah, noting four percent annual growth. Yeah, so we're getting- we're- we have plenty more inventory. Houses are being consumed. It's not a bad thing, right? So just keep that in mind. It's not all doom and gloom. I know I do a lot of, "Hey, this is what's going on with the market." Don't unders- Don't think for a half a second that you're not g- our house won't sell, okay?
If it's nice and it's done right, it will sell fast.
Why Real Estate Market Conditions Matter
Why Market Conditions Matter
So why real estate marketing conditions matter. This one I just read. Basically what it is is it's talking about knowing what the market is. If it's a buyer's market. And your micro market, your micro-- your ZIP code is a micro market- so you have to understand what's going on there versus the one next door, right?
So don't get all tied up and say, "Why isn't my house selling versus the one that's in Cupertino?" 'Cause Cupertino's a hotter market and always will be. Yep. So it talks, you know, it defines the seller's market and buyer's market. We always talk about the six months thing, right?
Listing Heat Map Analytics
Yesterday I talked about the visitor map, or the heat map, of understanding how your market- your home is marketed- and we use this particular listing, right?
So we have a hundred and seventy-eight views or impressions, and we have five hundred clicks, and top of the search results is almost fourteen thousand, right? We've had a couple leads come through, people share it, that kind of thing, the floor plan view, map, mile apart view. And look, here it is. And here's the consumption over time, and the property search page has popped up, and then outside of other things too.
Yeah. But what's most important and most engaging is when you look at it, right? All the way in New York and Boston to Seattle to San Diego, even Hawaii, we have some people showing up. Let's see if we can get... Three hundred and thirty-three people clicked on it. San Jose. So you're... When you talk about it, it's, it's nice to sh- see where your traffic's coming from because you never know what's happening.
Like this one right here could have been completely random, or it could have been a buyer intent on buying in, um, in San Jose. And over the weekend, I had somebody from Ontario, Canada, call me and said they want- they wanted to see the house. So there you go.
Los Gatos House of the Week
This is Los Gatos House of the Week, and the reason why I picked it is that it's within walking distance of Main Street, which is actually Santa Cruz, not Main Street.
And it's also walking distance to Main Street. But it's three and a half million dollars, zero bedrooms, zero baths. I wonder why it's not selling. Maybe it's 'cause it's condemned or something. Who knows? It's a historic house, it looks like. Huh. Anyway, there you go.
Santa Clara County Price Reductions
Quick Tour and Value Take
Let's take a l- quick look inside, and we'll get you on your way.
Yikes. Three and a half million dollars for not even a Quarter. It's a quarter-acre of land right there. There's your value, but I think the value's really, like, one and a half to two. All right, uh, let's see.
Weekly Highs Lows and Ratios
Oh, this is highest and lowest. This is the highest list sold price in Santa Clara County: Sunset Drive in Saratoga, not my listing.
Nine million dollars, took ten days to sell, and it's four bedroom, three bath, thirty-three hundred square feet in Saratoga. This one is Peter Pan Ave. I wanna say it was nineteen fifty-eight, but yeah. Let's take a look at that bad boy. Eight hundred square feet. Three bedroom, one bath sold for 775 days off market, looks like.
And then Castro Drive in Campbell- this is the highest list price to sales price. Started at three point... 2.2, sold for 3 million. Took seven days to sell. Nice. Good for you. And then Corbató Lane, which is the lowest list price to sales price ratio, which is, I wanna say 80%, 80%. Started off at five, sold for four.
That, that kind of ma- that maths out. Took 21 days to sell. There you go. And there you go.
Market Wrap and Sign Off
So nothing really is crazy going on in the market. We're just seeing things kinda float around. That's it. All right. That's it for now. Thanks for watching. I'm Vito with Abitano. We'll see you out there.
Santa Clara County Highs and Lows
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Vito Scarnecchia
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