October 2023 Report
Single Family Homes in Santa Clara County, All Cities, All Neighborhoods Change >
Average Price$2,194,850
+1.1%
Pending Properties459
-16.7%
Sale/List Price Ratio105.1%
-1.0%
Days of Inventory31
-34.8%
Trends at a Glance
| Trends At a Glance |
Oct 2023 |
Previous Month |
Year-over-Year |
| Median Price |
$1,820,000 (-0.8%) |
$1,835,000 |
$1,601,480 (+13.6%) |
| Average Price |
$2,194,850 (+1.1%) |
$2,170,610 |
$1,969,090 (+11.5%) |
| No. of Sales |
593 (+45.0%) |
409 |
619 (-4.2%) |
| Pending |
459 (-16.7%) |
551 |
445 (+3.1%) |
| Active |
604 (-8.6%) |
661 |
964 (-37.3%) |
| Sale vs. List Price |
105.1% (-1.0%) |
106.1% |
100.1% (+5.0%) |
| Days on Market |
18 (-4.9%) |
19 |
28 (-36.8%) |
| Days of Inventory |
31 (-34.8%) |
47 |
47 (-34.6%) |
Market Commentary
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.