November 2024 Report
Single Family Homes in Santa Clara County, All Cities, All Neighborhoods Change >
Average Price$2,341,850
-1.0%
Pending Properties530
-19.2%
Sale/List Price Ratio105.2%
-0.9%
Days of Inventory18
-35.3%
Trends at a Glance
| Trends At a Glance |
Nov 2024 |
Previous Month |
Year-over-Year |
| Median Price |
$1,925,000 (-3.7%) |
$1,998,000 |
$1,720,000 (+11.9%) |
| Average Price |
$2,341,850 (-1.0%) |
$2,365,860 |
$2,024,330 (+15.7%) |
| No. of Sales |
633 (-7.6%) |
685 |
495 (+27.9%) |
| Pending |
530 (-19.2%) |
656 |
430 (+23.3%) |
| Active |
401 (-38.1%) |
648 |
490 (-18.2%) |
| Sale vs. List Price |
105.2% (-0.9%) |
106.2% |
103.9% (+1.3%) |
| Days on Market |
22 (+15.6%) |
19 |
19 (+12.9%) |
| Days of Inventory |
18 (-35.3%) |
28 |
29 (-36.0%) |
Market Commentary
The median sales price for single-family, re-sale homes was up 11.9% compared to last year. The median sales price was $1,925,000.
The average sales price for single-family, re-sale homes was up 15.7% year-over-year. The average sales price was $2,341,850.
Sales of single-family, re-sale homes were up 27.9%, year-over-year. There were 633 homes sold in Santa Clara County last month. The monthly average since 2000 is 987.
The sales price to list price ratio fell from 106.2% to 105.2%.
Pending sales were up 23.3% year-over-year. There are 530 homes in escrow.
Inventory of single-family, re-sale homes was down 18.2% compared to last year. As of December 5th, there were 401 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, fell from 28 days to 18 days. The average since 2003 is 89.
It took twenty-two 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 also up last month. The median sales price for condos was up 11.8% compared to last November. The median sales price was $1,040,000. The average sales price gained 6.4% year-over-year. The average sales price was $1,073,060.
Condo sales were up 28.1%. There were 255 condos sold in November.
The sales price to list price ratio fell from 103.1% to 101.7%.
Pending sales were up 35.2% year-over-year. There are 265 condos in escrow.
Condo inventory was up 25.9% compared to last November.
As of December 5th, there were 331 condos for sale in Santa Clara County. The average since January 2000 is 757.
Days of inventory fell from fifty-one to thirty-eight.
It took an average of twenty-seven days to sell a condo last month.
If you are planning on selling your property, call me for a free comparative market analysis.