Real Estate Report presented by Mary Pope-Handy

January 2019 Report

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


Median Price
$3,500,000
+42.9%
Average Price
$3,500,000
+42.9%
No. Sold
1
-50.0%
Pending Properties
1
0.0%
Active
2
-50.0%
Sale/List Price Ratio
100.0%
+7.9%
Days on Market
12
-40.0%
Days of Inventory
60
+3.4%

Market Barometer

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Market Commentary

Market Turning to Buyers

After peaking in March, the real estate market in Santa Clara County has been on a steady down trend.

The sales price to list price ratio, or what buyers paid divided by what sellers were asking, was at 112.4% in February, March and April. As you can see in the chart below, it has fallen steadily since then and it ended the year at 100.1%.

The median sales price for single-family, re-sale homes peaked at $1,450,000 in March. It ended the year at $1,163,000. The average price peaked at $1,745,230 in March. It ended the year at $1,437,380. In November and December, both the median and average prices were lower than the year before.

Home sales were down 9.7% from the year before.

Home inventory was up 25.2% year-over-year. Nevertheless, it was pretty anemic. There were an average of 920 homes listed for sale each month in 2018. The average from 2000 through 2016 is 3,026. The good news is inventory was up over the year before for the last seven months of the year.

Condo statistics show similar trends.

The sales price to list price ratio peaked in March at 116.1%. It closed the year at 99.9%. That is the first time the ratio has been below 100% since March 2012!

The median sales price for re-sale condominiums peaked at $950,000 in March. It ended the year at $795,250. The average price peaked at $1,005,520 in March. It ended the year at $870,564. In December, the median and average prices were lower than the year before. The median price hadn’t been lower than the year before since June 2011.

Condo sales were down 12.1% from 2017.

Condo inventory was also up year-over-year. It was also anemic. There were 317 condos listed for sale. The average from 2003 to 2016 is 833.

Expect these trends to continue in 2019. That is, prices will continue to decline and sales and inventory will increase.

The market is transitioning towards buyers.

For assistance in this market, do not hesitate to contact me. If you are thinking of selling, I can provide a free comparative market analysis. Also, click on Recent Sales & Listings to see what has sold, what is for sale and what is pending in your neighborhood.


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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