Real Estate Report presented by Mary Pope-Handy & Clair Handy

December 2022 Report

Condos in Santa Clara County, Los Gatos, All Neighborhoods Change >


Median Price
$1,250,000
-10.7%
Average Price
$1,072,600
-17.2%
No. Sold
5
-54.5%
Pending Properties
7
-30.0%
Active
11
0.0%
Sale/List Price Ratio
99.0%
-0.3%
Days on Market
48
+87.9%
Days of Inventory
66
+127.6%

Market Barometer

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Market Commentary

Market Continues to Weaken

The median sales price for single-family, re-sale homes fell, month-over-month. It was down 7.7% from November. It was down 16.3% compared to last year.

The average sales price for single-family, re-sale homes was down 8.7%, month-over-month. It was down 17.4% year-over-year.

Sales of single-family, re-sale homes were down for the sixteenth month in a row, year-over-year, in December. Sales fell 40.7%. There were 409 homes sold in Santa Clara County last month. The monthly average since 2000 is 987.

The sales price to list price ratio fell from 99.6% to 98.7%.

Pending sales were down 3.1% year-over-year.

After being down, year-over-year, thirty months in a row, inventory of single-family, re-sale homes was up for the tenth month in a row. It gained 140% compared to last year. As of January 5th, there were 492 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 43 days to 36 days. The average since 2003 is 89.

It took thirty-two 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 down 9.4% compared to last December. The average sales price fell 11.5% year-over-year.

Condo sales were down 46.7% year-over-year. There were 171 condos sold in December.

The sales price to list price ratio rose from 98.8% to 99.2%.

Condo inventory was up 114.3% compared to last November.

As of January 5th, there were 225 condos for sale in Santa Clara County. The average since January 2000 is 757.

Days of inventory fell from forty-one to thirty-nine.

It took an average of thirty-three 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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