Real Estate Report presented by Gwen Wang

October 2017 Report

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


Median Price
$1,179,000
+2.4%
Average Price
$1,463,320
+2.8%
No. Sold
928
-5.9%
Pending Properties
896
-5.4%
Active
647
+2.7%
Sale/List Price Ratio
105.9%
-0.4%
Days on Market
21
+10.3%
Days of Inventory
20
+5.5%

Market Barometer

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Market Commentary

Home Prices Pop Again

Prices for single-family, re-sale homes rose by double-digits in September.

That’s the fourth month in a row the median price has been higher than the year before by double-digits. The average price was up by double-digits for the third month in a row.

The median price for homes gained 17.9% over last September. At $1,179,000, the median price is within shouting distance of the all-time high of $1,195,000 set in May.

This is also the 67th month in a row the median price has been higher than the year before.

The average price for homes rose 13.7% to $1,463,320, a new all-time high.

The median price for condos gained 9.6%. Notably, the median price for condos has been higher than the year before every month since July of 2011!

The average price for condos was up 7.9% over last September.

Multiple offers continue to be the norm. The sales price to list price ratio, or what buyers are paying over what sellers are asking remains at triple digits: 105.9% for homes and 106.7% for condos.

The ratio has been over 100% for homes since March 2012 and for condos since April 2012.

Homes and condos are flying off the shelf. It is taking only twenty days to sell a home, on average. Condos are taking seventeen days.

All of this is due to an incredible lack of inventory. Since January 2000, Santa Clara County has averaged 94 days of inventory. Last month it was twenty.

Condos have averaged 87 days since 2000. Last month it was twelve.

To read "Preparing to Sell Your Home? The 5 Best Projects to do Now", click on the Newsletter link to the left.

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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