July 2022 Report
Single Family Homes in Santa Clara County, All Cities, All Neighborhoods Change >
Average Price$2,188,200
-1.3%
Pending Properties1,261
+4.2%
Sale/List Price Ratio101.2%
-4.8%
Days of Inventory56
+45.2%
Trends at a Glance
| Trends At a Glance |
Jul 2022 |
Previous Month |
Year-over-Year |
| Median Price |
$1,750,000 (-3.3%) |
$1,810,000 |
$1,667,500 (+4.9%) |
| Average Price |
$2,188,200 (-1.3%) |
$2,216,370 |
$2,032,930 (+7.6%) |
| No. of Sales |
603 (-28.0%) |
838 |
1,096 (-45.0%) |
| Pending |
1,261 (+4.2%) |
1,210 |
1,215 (+3.8%) |
| Active |
1,119 (+1.0%) |
1,108 |
873 (+28.2%) |
| Sale vs. List Price |
101.2% (-4.8%) |
106.3% |
109.6% (-7.6%) |
| Days on Market |
22 (+49.8%) |
14 |
13 (+69.8%) |
| Days of Inventory |
56 (+45.2%) |
38 |
24 (+133.0%) |
Market Commentary
Sales of single-family, re-sale homes were down for the eleventh month in a row, year-over-year, in July. Sales fell 44.8%. There were 603 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 fell, month-over-month, for the third month in a row. It was down 3.3% from June. Nevertheless, it was up 5.1% compared to last year. That’s the thirty-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 was down, month-over-month, for the fourth month in a row. It lost 1.3% from June. It was up 7.7% year-over-year.
The sales price to list price ratio fell from 106.3% to 101.2%. Multiple offers continue to be the norm.
Pending sales were up 0.6% year-over-year.
After being down, year-over-year, thirty months in a row, inventory of single-family, re-sale homes was up for the fifth month in a row. It gained 45.7% compared to last year. As of August 5th, there were 1,119 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, rose from 38 days to 56 days. The average since 2003 is 89.
It took only twenty-two 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 5.2% compared to last July. The average sales price gained 7.7% year-over-year.
Condo sales were down 40.8% year-over-year. There were 300 condos sold in July.
The sales price to list price ratio fell from 105.6% to 102%.
Condo inventory rose 15% compared to last July.
As of August 5th, there were 483 condos for sale in Santa Clara County. The average since January 2000 is 757.
Days of inventory rose from thirty-nine to forty-eight.
It took an average of twenty-one days to sell a condo last month.
If you are planning on selling your property, call me for a free comparative market analysis.