Real Estate Report presented by Ron J. Bonhagen Sr. South Bay Real Estate Group

August 2020 Report

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


Median Price
$1,400,000
+1.8%
Average Price
$1,696,620
-1.8%
No. Sold
857
-13.3%
Pending Properties
1,046
-1.2%
Active
900
+3.1%
Sale/List Price Ratio
102.4%
+0.7%
Days on Market
24
-11.7%
Days of Inventory
32
+18.9%

Market Barometer

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Market Commentary

Home Prices Pop, Pending Sales Surge Continues

The median sales price for single-family, re-sale homes in August jumped 17.6% compared to last year. The average sales price was up 17.1% year-over-year.

The sales price to list price ratio went from 101.7% to 102.4%.

Pending sales were up 43.7% year-over-year.

Sales of single-family, re-sale homes fell 13.3% in August compared to July. Home sales were down 0.8% compared to last August. There were 857 homes sold in Santa Clara County last month. Last August there were 864 homes sold. The average since 2000 is 987.

Year-to-date, home sales are down 14.9%.

Inventory of single-family, re-sale homes was down 37% compared to last year. That is the twelfth month in a row inventory has been lower than the year before. As of September 5th, there were 900 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 five days to 32 days compared to July. The average since 2003 is 89.

It took only twenty-four 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 1.5% from last August. The average sales price gained 1.2% year-over-year.

Condo sales were down 12.2% year-over-year. There were 288 condos sold in August.

Year-to-date, condo sales are down 15.1%.

The sales price to list price ratio stayed at 100.6%.

Condo inventory dropped 20.6% from last August. 

As of September 5th, there were 594 condos for sale in Santa Clara County. The average since January 2000 is 757.

Days of inventory rose to sixty-two from forty-nine.

It took an average of twenty-eight 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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