Real Estate Report presented by Mary Pope-Handy

November 2018 Report

Single Family Homes in Santa Clara County, San Jose, Willow Glen Change >


Median Price
$1,347,500
-2.3%
Average Price
$1,510,880
-1.8%
No. Sold
32
-36.0%
Pending Properties
39
-2.5%
Active
75
+15.4%
Sale/List Price Ratio
101.9%
+0.1%
Days on Market
25
+0.5%
Days of Inventory
70
+86.5%

Market Barometer

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Market Commentary

Home Sales & Prices Edge Higher in October

After six straight months with the median price of single-family, re-sale homes being lower than the month before, it gained 3.4% in October. Year-over-year, the median price was up 5.9%.

The average price has been lower five of the past six months. It gained 7.9% over September. Year-over-year, the average price was up 6.3%.

Home sales also bounced last month, up 9.9% over September. Year-over-year, home sales were down 5.1%.

The sales price to list price ratio, or what buyers are paying over what sellers are asking has been steadily declining and is now at its lowest level since January 2017. Nevertheless, it remains in the triple digits: 102.0%.

Inventory continues to expand. It has been higher than the year before five months in a row. In October it was more than double last year: 125.2%. 

As of November 5th, there were 1,360 homes for sale in Santa Clara County.

Nevertheless, Days of Inventory shed two days to fifty-three days in October.  Since January 2000, Santa Clara County has averaged ninety-four days of inventory.

It is taking twenty-six days to sell a home. That’s the longest since February 2017.

The median price for re-sale condos was up 21.7% year-over-year. The average price was up 15.9%.

The sales price to list price ratio was 103.2%.

Days of inventory rose five days to 57. There are 545 condos for sale in Santa Clara County.

It is taking twenty-one days to sell a condo.

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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