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

January 2024 Report

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


Median Price
$4,140,000
+29.7%
Average Price
$4,280,580
+24.9%
No. Sold
14
-6.7%
Pending Properties
5
-54.5%
Active
12
-20.0%
Sale/List Price Ratio
100.0%
-8.5%
Days on Market
21
+17.1%
Days of Inventory
26
-14.3%

Market Barometer

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Market Commentary

Prices and Sales Rise to Start the Year

The median sales price for single-family, re-sale homes was up 12.1% compared to last year.

The average sales price for single-family, re-sale homes was up 7.6% year-over-year.

Sales of single-family, re-sale homes were up 19.8%, year-over-year, in January. There were 314 homes sold in Santa Clara County last month. The monthly average since 2000 is 987.

The sales price to list price ratio rose from 103.1% to 103.4%.

Pending sales were down 58.6% year-over-year.

Inventory of single-family, re-sale homes was down for the tenth month in a row. It fell 40.2% compared to last year. As of February 5th, there were 319 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, rose from 19 days to 30 days. The average since 2003 is 89.

It took twenty-four 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 up 8.2% compared to last January. The average sales price gained 2.4% year-over-year.

Condo sales were up 19.1% year-over-year. There were 131 condos sold in January.

The sales price to list price ratio rose from 100.5% to 101.1%.

Condo inventory was down 21.9% compared to last January.

As of February 5th, there were 193 condos for sale in Santa Clara County. The average since January 2000 is 757.

Days of inventory rose from twenty-five to forty-four.

It took an average of thirty-seven 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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