September 2024 Report
Single Family Homes in Santa Clara County, All Cities, All Neighborhoods Change >
Average Price$2,304,410
+1.4%
Pending Properties621
+13.7%
Sale/List Price Ratio104.9%
-0.1%
Days of Inventory41
+32.9%
Trends at a Glance
| Trends At a Glance |
Sep 2024 |
Previous Month |
Year-over-Year |
| Median Price |
$1,930,000 (+4.2%) |
$1,851,830 |
$1,835,000 (+5.2%) |
| Average Price |
$2,304,410 (+1.4%) |
$2,273,600 |
$2,170,610 (+6.2%) |
| No. of Sales |
554 (-17.3%) |
670 |
409 (+35.5%) |
| Pending |
621 (+13.7%) |
546 |
551 (+12.7%) |
| Active |
782 (+13.7%) |
688 |
661 (+18.3%) |
| Sale vs. List Price |
104.9% (-0.1%) |
105.0% |
106.1% (-1.1%) |
| Days on Market |
20 (+3.1%) |
19 |
19 (+3.9%) |
| Days of Inventory |
41 (+32.9%) |
31 |
47 (-12.7%) |
Market Commentary
The median sales price for single-family, re-sale homes was up 5.2% compared to last year. The median sales price was $1,930,000.
The average sales price for single-family, re-sale homes was up 6.2% year-over-year. The average sales price was $2,304,410.
Sales of single-family, re-sale homes were up 35.5%, year-over-year, in September. There were 554 homes sold in Santa Clara County last month. The monthly average since 2000 is 987.
The sales price to list price ratio fell from 105% to 104.9%.
Pending sales were up 12.7% year-over-year. There are 621 homes in escrow.
Inventory of single-family, re-sale homes was up 18.3% compared to last year. As of October 5th, there were 782 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 31 days to 41 days. The average since 2003 is 89.
It took twenty 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 mixed last month. The median sales price for condos was down 4.8% compared to last September. The median sales price was $1,000,000. The average sales price gained 0.4% year-over-year. The average sales price was $1,109,770.
Condo sales were up 56.3%. There were 247 condos sold in September.
The sales price to list price ratio rose from 102.1% to 102.6%.
Pending sales were up 25.8% year-over-year. There are 278 condos in escrow.
Condo inventory was up 52.9% compared to last September.
As of October 5th, there were 474 condos for sale in Santa Clara County. The average since January 2000 is 757.
Days of inventory rose from forty-five to fifty-six.
It took an average of twenty-six days to sell a condo last month.
If you are planning on selling your property, call me for a free comparative market analysis.