March 2020 Report
Single Family Homes in Santa Clara County, San Jose, All Neighborhoods Change >
Average Price$1,350,870
+14.5%
Pending Properties44
+83.3%
Sale/List Price Ratio105.5%
+4.6%
Days of Inventory14
-28.4%
Trends at a Glance
| Trends At a Glance |
Feb 2020 |
Previous Month |
Year-over-Year |
| Median Price |
$1,347,500 (+16.2%) |
$1,160,000 |
$1,100,000 (+22.5%) |
| Average Price |
$1,350,870 (+14.5%) |
$1,180,190 |
$1,159,030 (+16.6%) |
| No. of Sales |
36 (+56.5%) |
23 |
29 (+24.1%) |
| Pending |
44 (+83.3%) |
24 |
42 (+4.8%) |
| Active |
18 (+20.0%) |
15 |
56 (-67.9%) |
| Sale vs. List Price |
105.5% (+4.6%) |
100.9% |
102.6% (+2.8%) |
| Days on Market |
9 (-78.9%) |
44 |
18 (-47.0%) |
| Days of Inventory |
14 (-28.4%) |
20 |
52 (-73.1%) |
Market Commentary
The sales price to list price ratio jumped to 104.4% from 100.9%. That’s the highest it has been since July 2018.
Inventory of single-family, re-sale homes was down 43.8% compared to last year. That is the sixth month in a row inventory has been lower than the year before. As of March 5th, there were 607 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 February was up 13.7% compared to last year. It was up 12.5% from January.
The average sales price was up 8.5% year-over-year. It was up 8.7% compared to January.
Home sales rose 20.6% from January. They were down 3.7%, year-over-year. There were 469 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, fell three days to 36 days compared to January. The average since 2003 is 89.
It took twenty-five 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 1.0% compared to January, but, it was down 4.5% from last February.
The average sales price rose 4.1% from January, but, it was down 2% year-over-year.
Condo sales were up 35.4% year-over-year. They were up 34.0% from January. There were 256 condos sold in February.
The sales price to list price ratio rose to 101.7% from 99.6%.
Condo inventory dropped 54.0% from last February.
As of March 5th, there were 233 condos for sale in Santa Clara County. The average since January 2000 is 757.
Days of inventory fell to twenty-five from thirty-six.
It took an average of thirty-one days to sell a condo last month.
If you are planning on selling your property, call me for a free comparative market analysis.