Santa Clara County Real Estate Price Trends
Above is the current real estate "snapshot" in Silicon Valley (previous snapshots, including a pre-corona snapshot, are below). The current update as of June 22, 2020, out of 444,000 homes in Santa Clara County, there are 1680 active listings on the market. Of those, 1142 are single family homes and 538 are condos or townhouses. Inventory is up slightly from early June. Our "number of months supply" had been down around 1.5 for a few months give or take earlier in the year, but is now at 2.5 months of supply (up from 1.9 in May); Average days on market before going into contract is right around 6 (down from 14 in May), and listings are still selling around the list price at 100.2% list price to sales price ratio. Of note, the sales price to original list price ratio is currently 99.3 (taking price reductions into consideration), about the same as last month.
Average sales price across property types is $1,485,911 and for single family homes is $1,654,056 for the county (down slightly) - median for county properties is $1,225,000. Median price of a single family home is $1,372,500. Even though the market has seen some ups and downs, the average sales prices are still up from a year ago (1,383,715 for all types of properties one year ago and 1,561,900 for single family). In general house prices are staying strong while number of sales seems to be unpredictable and inventory seems to be going up a bit, which may create a drop in prices at some point.
We update the Santa Clara County Real Estate Price Trends regularly, looking up statistics manually directly from the MLS. This is not a system generated report. If you are looking for a Silicon Valley Realtor, we're here to help. We'd be happy to answer questions about buying a home in the Bay Area, the home selling process, or any other question you have.
Interest rates dropping and remaining attractive has been fueling the market despite current uncertain times. If you'd like a customized market report for your town, area, or zip code please let us know - our home selling team is happy to prepare it for you. We have a system for helping virtually during these unpredictable times. And for in-person work we follow safety protocols.
We also have a free first time home buyers class coming up this summer - please inquire in order to get on the interest list!
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Previous Infographics:
June 1, 2020
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May 13, 2020
April 27, 2020
April 20, 2020
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April 13, 2020
April 6, 2020
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End of March, 2020:
For a "pre-corona benchmark," we've included our infographic of the data from the beginning of March 2020.
