This week the median list price for Los Gatos, CA is $2,048,500 with the market action index hovering around 37. This is an increase over last month’s market action index of 35. Inventory has held steady at or around 116.
Market Action Index
The Market Action Index answers the question “How’s the Market?” by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller’s Market conditions. Below 30, conditions favor the buyer.
Slight Seller’s Advantage
The market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable.
If you would like a full market analysis for your home or to understand the trends in your buying search, please contact the Myrick Estates Team today!