Real Estate Report presented by Quintessential Real Estate Firm / Barbara Stewart

April 2020 Report

Single Family Homes in Santa Clara County, All Cities, All Neighborhoods Change >


Median Price
$1,400,000
+5.3%
Average Price
$1,680,940
+6.7%
No. Sold
612
+30.5%
Pending Properties
729
-2.9%
Active
669
+10.2%
Sale/List Price Ratio
105.5%
+1.1%
Days on Market
20
-19.2%
Days of Inventory
33
-9.5%

Market Barometer

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Market Commentary

Home Sales Fall in March

Sales of single-family, re-sale homes fell in March compared to last year. I think we all expected this amidst the Covid-19 pandemic. Home sales were down 16.7%. There were 612 homes sold in Santa Clara County last month. The average since 2000 is 987.

We expect home sales to continue dropping for the next two months.

The sales price to list price ratio jumped to 105.5% from 104.4%. That’s the highest it has been since July 2018.

Inventory of single-family, re-sale homes was down 41.8% compared to last year. That is the seventh month in a row inventory has been lower than the year before. As of April 5th, there were 669 homes for sale in Santa Clara County. The average since January 2000 is 2,703.

The median sales price for single-family, re-sale homes in March was up 8.1% compared to last year. The average sales price was up 9.6% year-over-year.

Days of Inventory, or how long it would take to sell all homes listed for sale at the current rate of sales, fell three days to 33 days compared to February. The average since 2003 is 89.

It took only twenty 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 6.4% from last March. The average sales price fell 3.6% year-over-year.

Condo sales were up 6.7% year-over-year. There were 288 condos sold in February.

The sales price to list price ratio rose to 102.6% from 101.7%.

Condo inventory dropped 49.5% from last March. 

As of April 5th, there were 277 condos for sale in Santa Clara County. The average since January 2000 is 757.

Days of inventory rose to twenty-nine from twenty-five.

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.

Prices & Sales

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Days of Inventory

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Sales to Date

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Sales Price Ratio

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