Real Estate Report presented by Silicon Valley Real Estate Sales & Marketing

October 2023 Report

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


Median Price
$1,820,000
-0.8%
Average Price
$2,194,850
+1.1%
No. Sold
593
+45.0%
Pending Properties
459
-16.7%
Active
604
-8.6%
Sale/List Price Ratio
105.1%
-1.0%
Days on Market
18
-4.9%
Days of Inventory
31
-34.8%

Market Barometer

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Market Commentary

Prices Rise, Sales Down

The median sales price for single-family, re-sale homes was up 12.6% compared to last year.

The average sales price for single-family, re-sale homes was up 10.5% year-over-year.

Sales of single-family, re-sale homes were down for the twenty-second month in a row, year-over-year, in October. Sales fell 3.7%. There were 593 homes sold in Santa Clara County last month. The monthly average since 2000 is 987.

The sales price to list price ratio fell from 106.1% to 105.1%.

Pending sales were down 55.9% year-over-year.

Inventory of single-family, re-sale homes was down for the seventh month in a row. It fell 35.2% compared to last year. As of November 9th, there were 604 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, fell from 47 days to 31 days. The average since 2003 is 89.

It took eighteen 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 9.4% compared to last October. The average sales price gained 11.8% year-over-year.

Condo sales were up 10.6% year-over-year. There were 241 condos sold in October.

The sales price to list price ratio fell from 103.2% to 102.6%.

Condo inventory was down 17.2% compared to last October.

As of November 9th, there were 360 condos for sale in Santa Clara County. The average since January 2000 is 757.

Days of inventory fell from fifty-seven to forty-five.

It took an average of nineteen 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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