August 6th Market Trends Report for Saratoga, California
The Market Action Index has been trending down lately, while inventory is climbing. These trends imply a weakening market. In terms of supply and demand, the market is getting cooler – more supply is coming on the market relative to the sales demand. However, in recent weeks prices have been moving higher. Since it is technically a Buyer’s market, this price trend may be a result of improved quality (newer, larger homes) of the homes being listed.
Prices continue their climb again this week. We’re a long way f rom the market’s price high-point so with the Market Action Index as an indicator of how long this trend will last.