Santa Clara County Real Estate Price Trends
As of January 9th 2020, out of 444,000 homes in Santa Clara County, there are 706 active on the market. Of those, 513 are single family homes and 193 are condos or townhouses. Inventory is down again from last month. Our "number of months supply" had been hovering right around 2 months for over a year, give or take, but is now down to 1 month of supply. Average days on market before going into contract is up slightly, to 37, and listings are selling at a rate of 100.3% of the list price - pretty much right at the offering price and slightly up. Of note, the sales price to original list price ratio is currently 98.3 (taking price reductions into consideration), and this statistic seems to be on the upswing.
Average sales price across property types is $1,343,554, and for single family homes is $1,482,743 for the county (very similar to last month). Median price of a single family home is $1,220,000. Even though the market saw some ups and downs during 2019, the median and average sales prices are very similar now to one year ago. January 2019 the average was $1,404,503 for SFR, now up from there.
We update the Santa Clara County Real Estate Price Trends monthly, looking up statistics manually on 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. 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.