Real Estate Report presented by Steve Mun Group

July 2020 Report

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


Median Price
$1,375,000
-0.4%
Average Price
$1,728,390
+2.3%
No. Sold
988
+17.6%
Pending Properties
1,059
+1.1%
Active
873
-4.5%
Sale/List Price Ratio
101.7%
+1.1%
Days on Market
27
+19.3%
Days of Inventory
27
-16.0%

Market Barometer

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Market Commentary

Sales Surge Continues

Sales of single-family, re-sale homes rose 17.6% in July compared to June. Home sales were up 11.8% compared to last July. There were 988 homes sold in Santa Clara County last month. Last July there were 884 homes sold. The average since 2000 is 987.

Year-to-date, home sales are down 17.3%.

Inventory of single-family, re-sale homes was down 42.1% compared to last year. That is the eleventh month in a row inventory has been lower than the year before. As of August 5th, there were 873 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 July was up 6.6% compared to last year. The average sales price was up 10.6% year-over-year.

The sales price to list price ratio went from 100.6% to 101.7%.

Days of Inventory, or how long it would take to sell all homes listed for sale at the current rate of sales, fell five days to 27 days compared to June. The average since 2003 is 89.

It took only twenty-seven 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 3.6% from last July. The average sales price gained 3.3% year-over-year.

Condo sales were up 10.4% year-over-year. There were 349 condos sold in July.

Year-to-date, condo sales are down 15.6%.

The sales price to list price ratio rose to 100.6% from 100.4%.

Condo inventory dropped 22.8% from last July. 

As of August 5th, there were 572 condos for sale in Santa Clara County. The average since January 2000 is 757.

Days of inventory fell to forty-nine from fifty-two.

It took an average of thirty-one 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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