October 2021 Report
Single Family Homes in Santa Clara County, All Cities, All Neighborhoods Change >
Average Price$1,998,580
-3.8%
Pending Properties1,334
-2.5%
Sale/List Price Ratio109.4%
+1.3%
Days of Inventory15
-26.8%
Trends at a Glance
| Trends At a Glance |
Oct 2021 |
Previous Month |
Year-over-Year |
| Median Price |
$1,625,000 (+0.9%) |
$1,610,000 |
$1,442,500 (+12.7%) |
| Average Price |
$1,998,580 (-3.8%) |
$2,078,340 |
$1,706,780 (+17.1%) |
| No. of Sales |
995 (+5.7%) |
941 |
1,068 (-6.8%) |
| Pending |
1,334 (-2.5%) |
1,368 |
1,074 (+24.2%) |
| Active |
505 (-25.2%) |
675 |
975 (-48.2%) |
| Sale vs. List Price |
109.4% (+1.3%) |
107.9% |
103.3% (+5.9%) |
| Days on Market |
15 (-2.5%) |
15 |
20 (-26.0%) |
| Days of Inventory |
15 (-26.8%) |
21 |
27 (-44.4%) |
Market Commentary
Sales of single-family, re-sale homes were down for the second month in a row, year-over-year, in October. Sales fell 5.3%. There were 995 homes sold in Santa Clara County last month. The monthly average since 2000 is 987.
The median sales price for single-family, re-sale homes rose 0.9% from September. It was up 12.1% compared to last year. That’s the twenty-fourth 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 fell 3.8% from September. It was up 16.9% year-over-year.
The sales price to list price ratio went from 107.9% to 109.4%. Multiple offers continue to be the norm.
Pending sales were up 17.1% year-over-year.
Inventory of single-family, re-sale homes was down 43.5% compared to last year. That is the twenty-sixth month in a row inventory has been lower than the year before. As of November 5th, there were 505 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 21 days to 15 days. The average since 2003 is 89.
It took only fifteen 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 11.3% compared to last October. The average sales price gained 11.5% year-over-year.
Condo sales were up 8.4% year-over-year. There were 425 condos sold in October.
The sales price to list price ratio went from 103.4% to 103.9%.
Condo inventory fell 51.1% compared to last October.
As of November 5th, there were 308 condos for sale in Santa Clara County. The average since January 2000 is 757.
Days of inventory fell five days to twenty-two.
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.