Real Estate Report presented by Manu Changotra

February 2020 Report

Single Family Homes in Santa Clara County, All Cities, All Neighborhoods Change >


Median Price
$1,182,000
-3.1%
Average Price
$1,449,000
-3.0%
No. Sold
389
-41.3%
Pending Properties
475
+12.6%
Active
507
+10.0%
Sale/List Price Ratio
100.9%
+0.7%
Days on Market
41
+13.5%
Days of Inventory
39
+87.4%

Market Barometer

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Market Commentary

Home Inventory Down 5th Month in a Row

Inventory of single-family, re-sale homes was down 46.6% compared to last year. As of February 5th, there were 507 homes for sale in Santa Clara County. The average since January 2000 is 2,703.

The median sales price for single-family, re-sale homes in January was up 1.5% compared to last year. It was down 3.1% from December.

The average sales price was up 2.9% year-over-year. It was down 3.0% compared to December.

The sales price to list price ratio jumped to 100.9% from 100.2%. Agents have been reporting a surge in multiple offers.

Home sales dropped 41.3% from December. That is typical for December/January. They were down 9.5%, year-over-year. There were 389 homes sold in Santa Clara County last month. The average since 2000 is 987.

Days of Inventory, or how long it would take to sell all homes listed for sale at the current rate of sales, jumped 18 days to 39 days compared to December. The average since 2003 is 89.

It is taking forty-one days to sell a home. That is the time from when a home is listed for sale to when it goes into contract.

The median sales price for condos was up 1.8% compared to December, and, it was up 2.3% from last January.

The average sales price fell 1.2% from December, but, it was up 3.2% year-over-year.

The sales price to list price ratio rose to 99.6% from 99.0%.

Condo sales were up 22.4% year-over-year. They were down 29.0% from December. There were 191 condos sold in January.

Condo inventory dropped 53.0% from last January. 

As of February 5th, there were 216 condos for sale in Santa Clara County. The average since January 2000 is 757.

Days of inventory rose to thirty-four from thirty.

It took an average of fifty-two days to sell a condo last month.

If you are planning on selling your property, call me for a free comparative market analysis.

Prices & Sales

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Days of Inventory

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Sales to Date

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Sales Price Ratio

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