The number of homes for sale (what we call “inventory”) is still very low across East Contra Costa County. The reports that I’m seeing from some of the third-party companies I subscribe to show that we have a little more for sale than we did this time last year and about the same as the year before that. But I also keep track of inventory manually and I show that we are actually lower than both of the prior two years at this time. There can be a difference in how new homes are counted, as well as if you are looking at the first of the month or end of the month.
But it’s safe to say that inventory is still very low. This is causing frustration among buyers in that the best homes are attracting multiple offers again and we are seeing offers going above list price on some homes that are really nice and priced right.