Michelle Kim | June 11, 2024
Months of Supply Inventory (MSI) quantifies the supply/demand relationship by measuring how many months it would take for all current homes listed on the market to sell at the current rate of sales. The long-term average MSI is around three months in California, which indicates a balanced market. An MSI lower than three indicates that there are more buyers than sellers on the market (meaning it’s a sellers’ market), while a higher MSI indicates there are more sellers than buyers (meaning it’s a buyers’ market). The Silicon Valley market tends to favor sellers, which is reflected in its low MSI. MSI trended higher in the second half of 2023, but never climbed above three months of supply. From January to April 2024, single-family home and condo MSI fell significantly, indicating the housing market strongly favors sellers.
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Michelle Kim | September 27, 2024
Quick Take: The median single-family home price fell 7.8% month over month, while condo prices declined 6.7%. We expect price contraction for the rest of the year, whi… Read more
Michelle Kim | September 27, 2024
Quick Take: The median single-family home price fell 2.2% month over month, while condo prices declined 11.2%. We expect price contraction for the rest of the year, wh… Read more
Michelle Kim | September 26, 2024
Quick Take: The median single-family home price fell 11.4% month over month, while condo prices declined 0.2%. We expect price contraction for the rest of the year, wh… Read more
Michelle Kim | September 26, 2024
Quick Take: The median single-family home price fell 4.9% month over month, while condo prices declined 20.9%. We expect price contraction for the rest of the year, wh… Read more
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