Real Estate Report presented by Mary Pope-Handy

May 2021 Report

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


Median Price
$1,300,000
+8.3%
Average Price
$1,314,470
+4.5%
No. Sold
28
+3.7%
Pending Properties
34
+17.2%
Active
13
+18.2%
Sale/List Price Ratio
112.6%
-1.0%
Days on Market
8
+2.4%
Days of Inventory
14
+17.9%

Market Barometer

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Market Commentary

Home Sales Prices Set New Highs, Again, in May

Sales prices for single-family, re-sale homes set new highs for the fourth month in a row. The median sales was $1,660,000 last month, a gain of 20.9% compared to last year. That’s the nineteenth month in a row the median sales price has been higher than the year before.

The average sales price for single-family, re-sale homes rose to $2,026,750. It was up 21.5% year-over-year.

The sales price to list price ratio went from 109.9% to 110.1%. Multiple offers continue to be the norm.

Sales of single-family, re-sale homes were up 130.3% year-over-year in May. There were 1,101 homes sold in Santa Clara County last month. The monthly average since 2000 is 987.

This was the ninth month in a row that home sales were higher than the year before.

Pending sales were up 48.7% year-over-year.

Inventory of single-family, re-sale homes was down 32.2% compared to last year. That is the twenty-first month in a row inventory has been lower than the year before. As of June 5th, there were 658 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 three days to 18 days compared to April. The average since 2003 is 89.

It took only thirteen 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 11.2% from last May. The average sales price gained 11.4% year-over-year.

Condo sales were up 214.7% year-over-year. There were 612 condos sold in May.

The sales price to list price ratio stayed at 104.6%.

Condo inventory fell 18.2% compared to last May. 

As of June 5th, there were 368 condos for sale in Santa Clara County. The average since January 2000 is 757.

Days of inventory rose four days to twenty-three.

It took an average of twenty 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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