Real Estate Report presented by Mary Pope-Handy

October 2020 Report

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


Median Price
$1,950,000
-3.3%
Average Price
$1,976,090
-0.6%
No. Sold
61
+38.6%
Pending Properties
60
+15.4%
Active
56
-6.7%
Sale/List Price Ratio
105.7%
+1.0%
Days on Market
16
+13.3%
Days of Inventory
28
-30.4%

Market Barometer

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Market Commentary

Home Sales Continue to Surge

Sales of single-family, re-sale homes jumped 36.1% year-over-year. Home sales were up 10.1% compared to September. There were 1,051 homes sold in Santa Clara County last month. Last October there were 772 homes sold. The average since 2000 is 987.

The median sales price for single-family, re-sale homes set a new record high last month. It rose 18.1% compared to last year. That’s the twelfth month in a row the median sales price has been higher than the year before.

The average sales price was up 11.5% year-over-year. Higher priced homes are selling at a faster rate than lower priced homes.

The sales price to list price ratio went from 102.7% to 103.3%.

Pending sales were up 52.9% year-over-year.

Year-to-date, home sales are down 5.2%.

Inventory of single-family, re-sale homes was down 30% compared to last year. That is the fourteenth month in a row inventory has been lower than the year before. As of November 5th, there were 894 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 one day to 26 days compared to September. The average since 2003 is 89.

It took only twenty 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.

The median sales price for condos was up 3.3% from last October. The average sales price gained 3.5% year-over-year.

Condo sales were up 12.3% year-over-year. There were 392 condos sold in October.

Year-to-date, condo sales are down 7.3%.

The sales price to list price ratio from 100.5% to 100.9%.

Condo inventory dropped 0.9% from last October. 

As of November 5th, there were 630 condos for sale in Santa Clara County. The average since January 2000 is 757.

Days of inventory rose to forty-eight from forty-six.

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.

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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