Extremely Low Inventory

The entire town of Millbrae has only 4 houses for sale. That’s it. FOUR!

San Bruno is feeling generous and offers 9.

News is that US housing starts jumped to a 13 years high. What could that mean to bay area home prices and supply? More supply of homes means less price rise. If Bay area homes price do not rise, people have less incentive to sell.

Yes. The open houses are so crowded. The potential buyers touring are mostly young first time buyers. It seems that the ipo money finally getting to work.

Does IPO money means people will pay more for something that is worth less? Price rise is net result of demand and supply. To be more precise, net result of prices at which demanded and prices at which supplied.

If I am correct that the badly damaged IPO class of 2019 have their stock price rebound sharply this year, plus the upcoming IPO class 2020 like Airbnb and Stripe, we may see the Bay Area housing market on fire again.

I was thinking maybe starting the search early but having only 4 houses on market is not a lot of room to operate… :cry:

Didn’t visit Milbrae and too lazy to web search. Is Milbrae like MV, plenty of condos and townhouses and hardly any SFHs? Shouldn’t you be looking at Atherton?

Load up SQ and TWLO fast. By financial data :roll_eyes: comparison, those twos would be cheap. Wait for analysts to talk craps about those two for their clients, load up along with them.

Are you referring to BYND, UBER, ZOOM and WORK only? Anything else? I don’t follow IPOs :blush:

In the beginning of a bullish cycle, well priced decent looking houses in good location sell fast first, crappy looking houses in bad location will have to wait till near the end of the cycle.

I did a Redfin search on Cupertino and it also has 9 houses for sale.

For reference, Millbrae’s population is 23K and Cupertino 60K. So proportionally the number of houses for sale per capita is about the same for both towns.

Agreed, inventory is super low this year, it usually picks up starting Feb. All you need is that one house that ticks all your check boxes, if that home is on the market then you should jump on it. For a primary, finding the right home is the key.

I looked into all 4 and each sucks in different ways. :sob:

With a street number like that I am not sure my Chinese-ness can handle it… It has been sitting on market for 53 days and counting. :scream:

Just noticed Millbrae’s zip code is 94030… :scream:

994 is long life.
94030 is not 94130. Don’t read as nobody survive :scream:
Zip code of Cupertino is not that great 95014 yet plenty of Chinese

If you cannot find a dream home to buy. Buy any home with good lot, tear down the existing home, and build a dream home on it. Several people are doing this.

For everyone else, you want a 650 sqft home on 30th floor in a sea of highrise buildings. And looking for a ranch-style suburban home?

Another question. Why is this home sitting in the market for 53 days? Is this not a little too many days on market, if home is rightly priced and the demand is strong, particularly from people with new money ?

These are some of the lowest inventories in history. Higher prices will be the result.

Dream homes don’t exist in dream locations… to much competition from other buyers. If you really want a dream home you will have to build. Unfortunately that is a nightmare for most newbies. Or move to an area with less demand.

California’s housing supply recorded back-to-back drops of more than 20 percent at the end of 2019, with active listings declining 26.5 percent in December after a 22.5 percent decrease in November. December marked the sixth consecutive month of year-over-year decline in supply, and it was the largest since April 2013. The number of active listings in December was, in fact, the lowest level in nearly seven years .

Wow! Look at that. SIX houses for sale in Millbrae. That’s 50% increase from FOUR a week ago. :clap: :clap: :clap:

Sacramento is also extremely tight.

Sacramento Housing in December: Sales Up 12.7% YoY, Active Inventory down 38.8% YoY

Official buying season starts next week after the Super Bowl. The weather is mild. The Stock Market is near record high. Let the games begin.

1 Like