While home sales and prices were up year-over-year, they were down compared to November.
The median sales price for single-family, re-sale homes in December was up 4.9% compared to last year. It was down 2.4% from November.
The average sales price was up 4.1% year-over-year. It was down 0.1% compared to November.
The sales price to list price ratio dropped to 100.1% from 100.2%.
Home sales dropped 11.8% from November, but, they were up 17.5%, year-over-year. There were 644 homes sold in Santa Clara County last month. The average since 2000 is 987. For the year, home sales were down 3.5%.
Inventory was down for the fourth month in a row, after being higher than the year before fifteen months in a row. It dropped 33.6% last month.
As of January 5th, there were 453 homes for sale in Santa Clara County. The average since January 2000 is 2,778.
Days of Inventory, or how long it would take to sell all homes listed for sale at the current rate of sales, fell 9 days to 21 days compared to November. The average since 2003 is 89.
It is taking thirty-seven days to sell a home. 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 flat compared to November, and, it was down 1.6% from last December.
The average sales price fell 1.6% from November, and, it was down 2.2% from last December.
The sales price to list price ratio dropped to 99.4% from 100.4%.
Condo sales were up 18.7% year-over-year. For the year, condo sales were down 4.4%.
Condo inventory dropped 16.2% from last December.
As of January 5th, there were 248 condos for sale in Santa Clara County. The average since January 2000 is 757.
Days of inventory fell to twenty-nine from thirty-four.
It took an average of forty-nine days to sell a condo last month.