Real Estate Report presented by Mary Pope-Handy

July 2015 Report

Single Family Homes in Santa Clara County, San Jose, 20098 Change >


Median Price
$0
-100.0%
Average Price
$0
-100.0%
No. Sold
0
-100.0%
Pending Properties
0
N/A
Active
1
0.0%
Sale/List Price Ratio
0.0%
-100.0%
Days on Market
0
-100.0%
Days of Inventory
0
-100.0%

Market Barometer

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Market Commentary

Home Prices Continue to Rise

Although the median price for single-family, re-sale homes remained at $1,000,000 for the second month in a row, the average price rose 1.1% from May to reach a new high.

Sales of single-family, re-sale homes got back to the positive side in June, rising 5.6% from last year.

Active listings continue to be anemic, down by double-digits for the thirteenth month in a row. Pending sales showed single-digit losses for the fifth month in a row.

The sales price to list price ratio has been over 100% for forty months in a row.

Market momentum may be slowing a bit. But with the enormous amount of money chasing low inventory, we don’t expect that to last long.

June Market Statistics

Year-Over-Year

  • Median home prices increased by 11.1% year-over-year to $1,000,000 from $900,000.
  • The average home sales price rose by 10.5% year-over-year to $1,313,490 from $1,188,500.
  • Home sales rose by 5.6% year-over-year to 1,096 from 1,038.
  • Total inventory* fell 17.1% year-over-year to 2,182 from 2,633.
  • Sales price vs. list price ratio rose by 1.9% year-over-year to 106.9% from 105.0%.
  • The average days on market rose by 5.5% year-over-year to 20 from 19.

Month-Over-Month

  • Median home prices slipped by 0.0% to $1,000,000 from $1,000,000.
  • The average home sales price rose by 1.1% to $1,313,490 from $1,298,990.
  • Home sales up by 6.7% to 1,096 from 1,027.
  • Total inventory* dropped 1.6% to 2,182 from 2,218.
  • Sales price vs. list price ratio dropped by 0.7% to 106.9% from 107.7%.
  • The average days on market increased by 9.8% to 20 from 18.

Condominiums

Year-Over-Year

  • Median condo prices increased by 23.1% year-over-year to $651,000 from $528,750.
  • The average condo sales price rose by 22.1% year-over-year to $716,991 from $587,392.
  • Condo sales rose by 5.2% year-over-year to 448 from 426.
  • Total inventory* fell 21.9% year-over-year to 676 from 866.
  • Sales price vs. list price ratio rose by 3.7% year-over-year to 107.7% from 103.8%.
  • The average days on market fell by 26.1% year-over-year to 14 from 19.

Month-Over-Month

  • Median condo prices improved by 5.0% to $651,000 from $620,000.
  • The average condo sales price rose by 5.5% to $716,991 from $679,810.
  • Condo sales up by 16.4% to 448 from 385.
  • Total inventory* dropped 0.3% to 676 from 678.
  • Sales price vs. list price ratio dropped by 0.8% to 107.7% from 108.6%.
  • The average days on market dropped by 3.4% to 14 from 15.

* Total inventory is active listings plus contingent or pending listings. Active listings do not include contingent listings.

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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