Collins: What does increased inventory mean for homebuyers’ choice?

Housing inventory is on the rise in Santa Clara County, up nearly 29% over this time last year. While that seems like a significant increase, it reflects how little inventory we had a year ago.

We still have less than two months of inventory. Recently, we have seen the pace of sales decline from traditional spring levels.

“Home sales in Santa Clara County continue to show resilience,” Doug Goss, 2025 president of the Santa Clara County Association of Realtors, said. “While closed sales dipped slightly, new listings are up and home prices continue to rise. With median prices up 5.5% year-over-year, buyer demand remains strong despite longer days on market.”

While the market remains highly competitive, the increase in inventory has provided buyers with a greater array of choices at all price points.

On July 22, Santa Clara County had 434 single-family homes for sale at $1.5 million or below. With the average median sales price hovering close to $2 million, there is an increased opportunity for first-time buyers to enter the market. There are 781 condos and townhouses listed for less than $800,000, and 30 mobile homes are for sale at $250,000 or less.

If you find yourself skeptical, here are a few listings to consider:

• 412 Chateau La Salle Drive #412, San Jose listed for $249,800 by Kelly Hunt of Christie’s International Real Estate-Sereno
• 120 Damsen Drive, San Jose listed for $649,000 by The Jamison Team of Tuscana Properties
• 17035 Copper Hill Drive, Morgan Hill listed for $1,339,000 by Ryan Alter of EQ1 Real Estate
• 4089 Timberline Drive, San Jose listed for $1,498,000 by Kelly Hunt of Christie’s International Real Estate-Sereno
• 178 Salmar Ter, Campbell listed for $1,498,000 by The Jamison Team of Tuscana Properties

If you have been considering jumping into the housing market, now is the time to get back out there. Find a realtor who is knowledgeable about the market and who will take the time to properly prepare you for house hunting. You have more choices available at different price points in a variety of neighborhoods than we have had in a long while. Each seller has unique motivations and timelines, which can create opportunities to negotiate on price or terms.

Rather than waiting for interest rates to drop and potentially missing out, act when you find a home that fits your needs. If it’s the right property, make the offer. You can always refinance if rates improve later.

San José Spotlight columnist Neil Collins is CEO of the Santa Clara County Association of Realtors, a trade association representing more than 6,000 real estate professionals in Santa Clara County and surrounding areas. Contact Neil at [email protected].