The second rule of real estate after Location: Timing. Buyers and Sellers need to understand the time trends in the market.
Sellers need to be aware of how long it might take to sell their home. Many variables affect this time, not the least of which is list price. Given the Silicon Valley average time on market is much less than a month, having homes in the Los Gatos Mountains remain on the market two to six months speaks to the specialty market that it is. Homes closer to town and highways (17, 9) tend to move faster while others languish waiting for the discriminating buyer.
For the buyers, it is important to understand how fast you have to move – not just in responding to a home you like, but in how frequently you need to check the market and how quickly you need to make arrangements to view the home.
With average sale times of 4-12 weeks for the mid priced properties and much longer for very high-end properties, buyers in the Los Gatos Mountain territory are free to browse and compare.