Real Estate Report presented by Mary Pope-Handy

December 2020 Report

Condos in Santa Clara County, Los Gatos, Los Gatos/Monte Sereno Change >


Median Price
$1,200,000
-11.4%
Average Price
$1,162,290
-13.7%
No. Sold
7
-41.7%
Pending Properties
10
+25.0%
Active
10
-28.6%
Sale/List Price Ratio
101.1%
+2.9%
Days on Market
32
+28.9%
Days of Inventory
43
+26.7%

Market Barometer

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Market Commentary

Home Sales Continue to Rise

Sales of single-family, re-sale homes were up 29.7% year-over-year in December. There were 860 homes sold in Santa Clara County last month. The monthly average since 2000 is 987.

Home sales were up 0.5% for the year. That is the first time home sales were higher than the year before since 2015.

The average sales price for single-family, re-sale homes was up 13.5% year-over-year.

The median sales price for single-family, re-sale homes rose 12.3% compared to last year. That’s the fourteenth month in a row the median sales price has been higher than the year before.

The sales price to list price ratio went from 103.6% to 103.7%.

Pending sales were up 75.6% year-over-year.

Inventory of single-family, re-sale homes was down 7.4% compared to last year. That is the sixteenth month in a row inventory has been lower than the year before. As of January 5th, there were 427 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 15 days compared to November. 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 7.8% from last December. The average sales price gained 5.9% year-over-year.

Condo sales were up 30.1% year-over-year. There were 350 condos sold in December.

For the year, condo sales were down 2.2%.

The sales price to list price ratio from 100.8% to 100.5%.

Condo inventory rose 39.5% compared to last December. 

As of January 5th, there were 378 condos for sale in Santa Clara County. The average since January 2000 is 757.

Days of inventory fell to thirty-two from forty.

It took an average of thirty 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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