This week the median list price for Los Gatos, CA is $2,249,000 with the market action index hovering around 36. This is an increase over last month’s market action index of 35. Inventory has held steady at or around 129.
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
In the last few weeks, the Market Action Index has resumed a climb. Despite the fact that we’re in a Seller’s market, prices have not yet resumed upward momentum. However, it is likely that given these conditions, prices will at least level off very soon. If the increasing trend continues, expect that prices could shift higher quickly.
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!