Cambrian Park: Months of Inventory Declining Steadily for Single Family Homes

The stats aren't out yet from MLSListings.com, our MLS provider for the Silicon Valley Real Estate Market, so I did a little number crunching of my own to see how things are looking.

Cambrian Park, a district of San Jose bordering Los Gatos, Campbell, Willow Glen and Almaden Valley, is a good barometer for Silicon Valley and tends to represent a good middle point for pricing. Want to know how Santa Clara County is doing? Check Cambrian. It's usually in step with the averages and medians countywide.

That said, I wanted to see the absorption rate, or "months of inventory" for single family homes in Cambrian. The absorption rate tells us how long it would take to sell off the current inventory if no new homes came on the market and things continued selling at this pace.

In Cambrian, the news is very, very good!

The absorption rate for September is a low 3.71 months, which is the lowest point of 2008 so far and it shows a steady trend of declining months of inventory. For the National Association of Realtors, anything under 6 months is a sellers market. Here, we are used to a quick market so 4 or 5 months doesn't feel fast to us.

Despite what NAR says, I would not call it a seller's market in Cambrian Park. This, to me, looks like a "healthy market" or "balanced market". It is a time of good opportunity for both buyers and sellers.

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