October 2024 Report
Single Family Homes in Santa Clara County, All Cities, All Neighborhoods Change >
Average Price$2,365,860
+2.7%
Pending Properties656
+5.6%
Sale/List Price Ratio106.2%
+1.2%
Days of Inventory28
-30.7%
Trends at a Glance
| Trends At a Glance |
Oct 2024 |
Previous Month |
Year-over-Year |
| Median Price |
$1,998,000 (+3.5%) |
$1,930,000 |
$1,820,000 (+9.8%) |
| Average Price |
$2,365,860 (+2.7%) |
$2,304,410 |
$2,194,850 (+7.8%) |
| No. of Sales |
685 (+23.6%) |
554 |
593 (+15.5%) |
| Pending |
656 (+5.6%) |
621 |
459 (+42.9%) |
| Active |
648 (-17.1%) |
782 |
604 (+7.3%) |
| Sale vs. List Price |
106.2% (+1.2%) |
104.9% |
105.1% (+1.1%) |
| Days on Market |
19 (-3.5%) |
20 |
18 (+5.3%) |
| Days of Inventory |
28 (-30.7%) |
41 |
31 (-7.1%) |
Market Commentary
The median sales price for single-family, re-sale homes was up 9.8% compared to last year. The median sales price was $1,998,000.
The average sales price for single-family, re-sale homes was up 7.8% year-over-year. The average sales price was $2,365,860.
Sales of single-family, re-sale homes were up 15.5%, year-over-year. There were 685 homes sold in Santa Clara County last month. The monthly average since 2000 is 987.
The sales price to list price ratio rose from 104.9% to 106.2%.
Pending sales were up 42.9% year-over-year. There are 656 homes in escrow.
Inventory of single-family, re-sale homes was up 7.3% compared to last year. As of November 5th, there were 648 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 from 41 days to 28 days. The average since 2003 is 89.
It took nineteen 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.
Condo prices were also up last month. The median sales price for condos was up 3.1% compared to last October. The median sales price was $1,005,440. The average sales price gained 2.8% year-over-year. The average sales price was $1,099,860.
Condo sales were up 7.1%. There were 258 condos sold in October.
The sales price to list price ratio rose from 102.6% to 103.1%.
Pending sales were up 62.3% year-over-year. There are 297 condos in escrow.
Condo inventory was up 21.9% compared to last October.
As of November 5th, there were 439 condos for sale in Santa Clara County. The average since January 2000 is 757.
Days of inventory fell from fifty-six to fifty-one.
It took an average of twenty-five days to sell a condo last month.
If you are planning on selling your property, call me for a free comparative market analysis.