November 2019 Report
Single Family Homes in Santa Clara County, San Jose, Cambrian Change >
Average Price$1,243,130
-1.1%
Pending Properties51
-5.6%
Sale/List Price Ratio100.0%
0.0%
Days of Inventory21
-42.8%
Trends at a Glance
| Trends At a Glance |
Oct 2019 |
Previous Month |
Year-over-Year |
| Median Price |
$1,190,000 (-0.8%) |
$1,200,000 |
$1,275,000 (-6.7%) |
| Average Price |
$1,243,130 (-1.1%) |
$1,257,360 |
$1,306,870 (-4.9%) |
| No. of Sales |
56 (+12.0%) |
50 |
73 (-23.3%) |
| Pending |
51 (-5.6%) |
54 |
47 (+8.5%) |
| Active |
39 (-38.1%) |
63 |
57 (-31.6%) |
| Sale vs. List Price |
100.0% (0.0%) |
100.0% |
101.6% (-1.5%) |
| Days on Market |
33 (-4.9%) |
35 |
24 (+36.7%) |
| Days of Inventory |
21 (-42.8%) |
37 |
23 (-10.8%) |
Market Commentary
The median sales price for single-family, re-sale homes in October was down for the ninth month in a row and eleven of the past twelve months, year-over-year. It fell 5.4%. It was down 0.2% from September.
The average sales price was also down last month for the eleventh time in the past twelve months, year-over-year. It fell 4%. On a positive note, it was up 1% compared to September.
The sales price to list price ratio dropped to 100% from 100.4%.
Home sales rose 13.2% from September, and they were up 5.2%, year-over-year. There were 814 homes sold in Santa Clara County last month. The average since 2000 is 987.
Inventory was down for the second month in a row, after being higher than the year before fifteen months in a row. It dropped 14.8% last month.
As of November 5th, there were 1,159 homes for sale in Santa Clara County. The average since January 2000 is 2,778.
Days of Inventory, or how long it would take to sell all homes listed for sale at the current rate of sales, fell ten days to 43 days compared to September. The average since 2003 is 89.
It is taking thirty-two 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 fell 4.7% from September, and, it was down 13.1% from last October.
The average sales price fell 2.5% from September, and, it was down 11.4% from last October.
The sales price to list price ratio stayed at 100.0% for the third month in a row.
Condo sales were up 21.5% year-over-year.
After being higher than the year before sixteen months in a row, condo inventory dropped 6.4% from last October.
As of November 5th, there were 510 condos for sale in Santa Clara County. The average since January 2000 is 757.
Days of inventory fell to forty-four from sixty-five.
It took an average of thirty-three days to sell a condo last month.
It is taking thirty-five days to sell a condo.
If you are planning on selling your property, call me for a free comparative market analysis.