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 August 21, 2020, out of 444,000 homes in Santa Clara County, there are 1678 active listings on the market. Of those, 992 are single family homes and 686 are condos or townhouses. Inventory is down slightly from July. Our "number of months supply" is now at 1.2 months of supply, down slightly from July. Average days on market before going into contract is right around 21 (up quite a bit from last month), and listings are still selling around the list price at 101.8% list price to sales price ratio, up from last month. Of note, the sales price to original list price ratio is currently 101.8% (taking price reductions into consideration), also up from last month.
Average sales price across property types is $1,490,564 (down slightly) and for single family homes is $1,703,106 for the county (up slightly) - median for county properties across the board is $1,235,640 (up from last month). Median price of a single family home is $1,380,000. In general house prices are staying strong while number of sales seems to be unpredictable (lower than normal). Inventory appears to be going down again and creating a demand for supply.
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 - please inquire in order to get on the interest list!
July 8, 2020
June 22, 2020
June 1, 2020
May 13, 2020
April 27, 2020
April 20, 2020
April 13, 2020
April 6, 2020
End of March, 2020:
For a "pre-corona benchmark," we've included our infographic of the data from the beginning of March 2020.