August 2024 Report
Single Family Homes in Santa Clara County, All Cities, All Neighborhoods Change >
Average Price$2,273,600
-0.9%
Pending Properties546
-8.4%
Sale/List Price Ratio105.0%
+0.1%
Trends at a Glance
| Trends At a Glance |
Aug 2024 |
Previous Month |
Year-over-Year |
| Median Price |
$1,851,830 (-1.4%) |
$1,877,500 |
$1,850,000 (+0.1%) |
| Average Price |
$2,273,600 (-0.9%) |
$2,294,970 |
$2,237,100 (+1.6%) |
| No. of Sales |
670 (-8.2%) |
730 |
634 (+5.7%) |
| Pending |
546 (-8.4%) |
596 |
515 (+6.0%) |
| Active |
688 (-0.4%) |
691 |
623 (+10.4%) |
| Sale vs. List Price |
105.0% (+0.1%) |
104.9% |
105.3% (-0.3%) |
| Days on Market |
19 (+19.1%) |
16 |
18 (+7.9%) |
| Days of Inventory |
31 (+8.5%) |
28 |
29 (+4.5%) |
Market Commentary
The median sales price for single-family, re-sale homes was up 0.1% compared to last year. The median sales price was $1,851,830.
The average sales price for single-family, re-sale homes was up 1.5% year-over-year. The average sales price was $2,273,600.
Sales of single-family, re-sale homes were up 5.5%, year-over-year, in August. There were 670 homes sold in Santa Clara County last month. The monthly average since 2000 is 987.
The sales price to list price ratio rose from 104.9% to 105%.
Pending sales were up 4.8% year-over-year. There are 546 homes in escrow.
Inventory of single-family, re-sale homes was up 12.8% compared to last year. As of September 5th, there were 688 homes for sale in Santa Clara County. The average since January 2000 is 2,703.
Days of Inventory, or how long it would take to sell all homes listed for sale at the current rate of sales, rose from 28 days to 31 days. The average since 2003 is 89.
It took nineteen days to sell a home last month. That is the time from when a home is listed for sale to when it goes into contract.
Condo prices were up last month. The median sales price for condos was up 7.2% compared to last August. The median sales price was $1,021,680. The average sales price gained 7.5% year-over-year. The average sales price was $1,106,590.
Condo sales were down 9.9%. There were 265 condos sold in August.
The sales price to list price ratio fell from 103.1% to 102.1%.
Pending sales were up 44.7% year-over-year. There are 285 condos in escrow.
Condo inventory was up 52.7% compared to last August.
As of September 5th, there were 397 condos for sale in Santa Clara County. The average since January 2000 is 757.
Days of inventory rose from forty-three to forty-five.
It took an average of twenty-four days to sell a condo last month.
If you are planning on selling your property, call me for a free comparative market analysis.