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October 25, 2008

Several of my buyers have recently decided to hold off until things calm down with the economy. So I wondered if this was widespread or not. Tonight I checked the sales in Los Gatos (zips 95030 and 95032) for the period of 10/1 – 10/25 this year and last year. Sales are slower than last month but still ahead of last year, generally.

Among single family homes in Los Gatos, there have been 15 homes that went sale pending in that time frame this year, wheras there were 8 last year. For condos and townhomes it was 4 this year and 5 last year – close enough to not be significant in my opinion.

Right now, it does not look terribly bad. Sales are mostly ahead of last year at this same time. That said, we’ll know more when ALL the factors are in – price points, list price to sales price ratio, days on market, etc.