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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Quick Take: The median single-family home prices are still near their record highs. We expected price contraction after peaking in the second quarter, which is the sea… Read more
Michelle Kim | August 28, 2024
Quick Take: The median single-family home prices are still near their record highs, and Napa prices reached an all-time high in July. We expected price contraction aft… Read more
Michelle Kim | August 28, 2024
Quick Take: Median home prices are slightly below peak levels across the East Bay. We expected price contraction after peaking in the second quarter, which is the seas… Read more
Michelle Kim | August 28, 2024
Quick Take: Median home prices are slightly below peak levels across Silicon Valley. We expected price contraction after peaking in the second quarter, which is the se… Read more
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