February 2022 Report
Single Family Homes in Santa Clara County, All Cities, All Neighborhoods Change >
Average Price$2,165,810
+6.1%
Pending Properties1,173
+29.8%
Sale/List Price Ratio117.3%
+3.2%
Trends at a Glance
| Trends At a Glance |
Feb 2022 |
Previous Month |
Year-over-Year |
| Median Price |
$1,811,000 (+7.2%) |
$1,688,890 |
$1,485,000 (+22.0%) |
| Average Price |
$2,165,810 (+6.1%) |
$2,041,660 |
$1,807,390 (+19.8%) |
| No. of Sales |
475 (+10.7%) |
429 |
591 (-19.6%) |
| Pending |
1,173 (+29.8%) |
904 |
939 (+24.9%) |
| Active |
448 (+26.2%) |
355 |
741 (-39.5%) |
| Sale vs. List Price |
117.3% (+3.2%) |
113.7% |
106.4% (+10.3%) |
| Days on Market |
14 (+0.8%) |
14 |
25 (-43.1%) |
| Days of Inventory |
25 (+2.6%) |
25 |
34 (-24.8%) |
Market Commentary
The median sales price for single-family, re-sale homes rose 22.3% compared to last year to set a new high of $1,815,500. That’s the twenty-eighth 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 up 19.7% year-over-year. It also set a new high at $2,166,360.
The sales price to list price ratio jumped from 113.7% to 117.3%. Multiple offers continue to be the norm.
Sales of single-family, re-sale homes were down for the sixth month in a row, year-over-year, in February. Sales fell 18.4%. There were 476 homes sold in Santa Clara County last month. The monthly average since 2000 is 987.
Pending sales were up 20.9% year-over-year.
Inventory of single-family, re-sale homes was down 23.7% compared to last year. That is the thirtieth month in a row inventory has been lower than the year before. As of March 5th, there were 444 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 23 days to 25 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 15.5% compared to last February. It set a new high at $981,500. The average sales gained 14.7% year-over-year. It also set a new high at $1,070,140.
Condo sales were down 8.8/% year-over-year. There were 312 condos sold in February.
The sales price to list price ratio rose from 106.1% to 109.1%.
Condo inventory fell 45.9% compared to last February.
As of March 5th, there were 196 condos for sale in Santa Clara County. The average since January 2000 is 757.
Days of inventory fell three days to seventeen.
It took an average of sixteen days to sell a condo last month.
If you are planning on selling your property, call me for a free comparative market analysis.