Tom Li is a Bay Area News Group regional news reporting intern for The Mercury News and East Bay Times. Raised in Pleasanton, Tom is currently a student at Brown University studying economics and international and public affairs.
Prospective buyers tour a house for sale in Foster City, Calif., on Thursday, April 2, 2020. For many would-be homebuyers, a house that’s sat on the market for over 30 days in early summer raises a red flag.
But low inventory contributing to more stale properties might seem counterintuitive, given the higher demand and increased competition fueled by low inventory. If there are fewer homes, why aren’t buyers rushing to make offers? Blame sellers. Within the Bay Area, sellers in Alameda and Contra Costa counties saw the highest year-over-year increases in stale listings. Nearly 53% of Alameda County listings had been on the market for more than 30 days — a 7.6% annual increase from June 2023 — while Contra Costa saw almost 50% of listings go stale, a 7% increase.
“The people who can really buy right now are the higher-income folks,” Bokhari said. For homes in Contra Costa and Alameda counties, the uptick in stale inventory may be due to a more Quach said she’s seeing more stale inventory in San Jose, but added that it’s “really case-by-case” and more likely for hard-to-compare properties.
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