August 2021 Report
Single Family Homes in Santa Clara County, All Cities, All Neighborhoods Change >
Average Price$2,033,990
+0.1%
Pending Properties1,285
+2.6%
Sale/List Price Ratio108.8%
-0.8%
Trends at a Glance
| Trends At a Glance |
Aug 2021 |
Previous Month |
Year-over-Year |
| Median Price |
$1,650,000 (-0.9%) |
$1,665,000 |
$1,400,000 (+17.9%) |
| Average Price |
$2,033,990 (+0.1%) |
$2,032,190 |
$1,698,530 (+19.8%) |
| No. of Sales |
972 (-11.1%) |
1,093 |
934 (+4.1%) |
| Pending |
1,285 (+2.6%) |
1,253 |
1,024 (+25.5%) |
| Active |
690 (-10.2%) |
768 |
969 (-28.8%) |
| Sale vs. List Price |
108.8% (-0.8%) |
109.6% |
102.3% (+6.3%) |
| Days on Market |
14 (+10.9%) |
13 |
24 (-41.0%) |
| Days of Inventory |
21 (+1.0%) |
21 |
31 (-31.6%) |
Market Commentary
The median sales price for single-family, re-sale homes fell 0.9% from July. Nevertheless, it was up 17.9% compared to last year. That’s the twenty-second 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 1.0% from July. It was up 19.9% year-over-year.
The sales price to list price ratio went from 109.6% to 108.8%. Multiple offers continue to be the norm.
Sales of single-family, re-sale homes were up 13.4% year-over-year in August. There were 972 homes sold in Santa Clara County last month. The monthly average since 2000 is 987.
This was the twelfth month in a row that home sales were higher than the year before.
Pending sales were up 22.8% year-over-year.
Inventory of single-family, re-sale homes was down 23.3% compared to last year. That is the twenty-fourth month in a row inventory has been lower than the year before. As of September 5th, there were 690 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, stayed at 21 days. The average since 2003 is 89.
It took only fourteen 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 10.6% compared to last August. The average sales price gained 10.2% year-over-year.
Condo sales were up 55.6% year-over-year. There were 448 condos sold in August.
The sales price to list price ratio went from 104.6% to 103.5%.
Condo inventory fell 34% compared to last August.
As of September 5th, there were 392 condos for sale in Santa Clara County. The average since January 2000 is 757.
Days of inventory rose one day to twenty-six.
It took an average of eighteen days to sell a condo last month.
If you are planning on selling your property, call me for a free comparative market analysis.