September 2020 Report
Single Family Homes in Santa Clara County, San Jose, Cambrian Change >
Average Price$1,349,530
-4.4%
Pending Properties76
+2.7%
Sale/List Price Ratio103.2%
0.0%
Days of Inventory11
-45.2%
Trends at a Glance
| Trends At a Glance |
Sep 2020 |
Previous Month |
Year-over-Year |
| Median Price |
$1,345,000 (-4.0%) |
$1,400,440 |
$1,200,000 (+12.1%) |
| Average Price |
$1,349,530 (-4.4%) |
$1,411,350 |
$1,257,170 (+7.3%) |
| No. of Sales |
76 (+35.7%) |
56 |
52 (+46.2%) |
| Pending |
76 (+2.7%) |
74 |
48 (+58.3%) |
| Active |
30 (-23.1%) |
39 |
75 (-60.0%) |
| Sale vs. List Price |
103.2% (0.0%) |
103.2% |
99.9% (+3.3%) |
| Days on Market |
19 (+63.3%) |
12 |
34 (-44.1%) |
| Days of Inventory |
11 (-45.2%) |
21 |
42 (-72.6%) |
Market Commentary
Sales of single-family, re-sale homes surged 33.2% year-over-year. Home sales were up 11.4% compared to August. There were 955 homes sold in Santa Clara County last month. Last September there were 717 homes sold. The average since 2000 is 987.
The median sales price for single-family, re-sale homes in September gained 14.7% compared to last year. That’s the eleventh month in a row the median sales price has been higher than the year before.
The average sales price was up 15.4% year-over-year, setting a new all-time high. Higher priced homes are selling at a faster rate than lower priced homes.
The sales price to list price ratio went from 102.4% to 102.7%.
Pending sales were up 63.8% year-over-year.
Year-to-date, home sales are down 9.9%.
Inventory of single-family, re-sale homes was down 39.4% compared to last year. That is the thirteenth month in a row inventory has been lower than the year before. As of October 5th, there were 877 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 five days to 27 days compared to August. The average since 2003 is 89.
It took only 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.
The median sales price for condos was down 4.7% from last September. The average sales price gained 0.2% year-over-year.
Condo sales jumped 33.5% year-over-year. There were 375 condos sold in September.
Year-to-date, condo sales are down 9.9%.
The sales price to list price ratio dropped from 100.6% to 100.5%.
Condo inventory dropped 19.% from last September.
As of October 5th, there were 601 condos for sale in Santa Clara County. The average since January 2000 is 757.
Days of inventory fell to forty-six-two from sixty-two.
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.