August 2022 Report
Single Family Homes in Santa Clara County, All Cities, All Neighborhoods Change >
Average Price$1,959,160
-10.5%
Pending Properties1,305
+3.5%
Sale/List Price Ratio100.0%
-1.2%
Days of Inventory38
-31.4%
Trends at a Glance
| Trends At a Glance |
Aug 2022 |
Previous Month |
Year-over-Year |
| Median Price |
$1,650,000 (-5.7%) |
$1,750,000 |
$1,650,000 (0.0%) |
| Average Price |
$1,959,160 (-10.5%) |
$2,188,200 |
$2,031,350 (-3.6%) |
| No. of Sales |
734 (+21.7%) |
603 |
977 (-24.9%) |
| Pending |
1,305 (+3.5%) |
1,261 |
1,271 (+2.7%) |
| Active |
934 (-16.5%) |
1,119 |
761 (+22.7%) |
| Sale vs. List Price |
100.0% (-1.2%) |
101.2% |
108.8% (-8.1%) |
| Days on Market |
25 (+14.0%) |
22 |
14 (+74.7%) |
| Days of Inventory |
38 (-31.4%) |
56 |
23 (+63.4%) |
Market Commentary
Sales of single-family, re-sale homes were down for the twelfth month in a row, year-over-year, in August. Sales fell 24.5%. There were 734 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 5.7% from July. It was flat compared to last year, breaking a thirty-two month streak of being higher than the year before.
The average sales price for single-family, re-sale homes was down, month-over-month, for the fifth month in a row. It lost 10.5% from July. It was down 3.7% year-over-year.
The sales price to list price ratio fell from 101.2% to 100%. Multiple offers continue to be the norm.
Pending sales were up 1.6% 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 sixth month in a row. It gained 35.4% compared to last year. As of September 5th, there were 934 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 56 days to 38 days. The average since 2003 is 89.
It took twenty-five 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 down 3.6% compared to last August. The average sales price lost 1.2% year-over-year.
Condo sales were down 36.6% year-over-year. There were 284 condos sold in August.
The sales price to list price ratio fell from 102% to 100.1%.
Condo inventory fell 2.6% compared to last August.
As of September 5th, there were 382 condos for sale in Santa Clara County. The average since January 2000 is 757.
Days of inventory fell from forty-eight to forty.
It took an average of twenty-five days to sell a condo last month.
If you are planning on selling your property, call me for a free comparative market analysis.