Real Estate Report – July 2019

The median sales price for single-family, re-sale homes in July was down for the sixth month in a row and eight of the past nine months, year-over-year. It fell 4.1%. It was also down 4.8% from June.

The average sales price was down for the ninth month a row, year-over-year. It fell 4.5%. It was down 4.9% compared to June.

The sales price to list price ratio dropped to 100.6% from 101.6%.

Home sales rose 0.5% from June, but they were down, year-over-year, for the fifteenth month in a row: -3.1%. There were 821 homes sold in Santa Clara County last month. The average since 2000 is 987.

Inventory continues to expand. It has been higher than the year before fourteen months in a row. Last month, it was up 19.5% over last year.

Days of Inventory, or how long it would take to sell all homes listed for sale at the current rate of sales, fell four days to 50 days compared to June. The average since 2003 is 89.

As of August 5th, there were 1,375 homes for sale in Santa Clara County. The average since January 2000 is 2,778.

It is taking twenty-seven days to sell a home. That is the time from when a home is listed to when it goes into contract.

Prices for re-sale condos were down significantly last month from the month before and year-over-year. The median sales price fell 10% from June and 12.5% from last July.

The average sales price fell 8.2% from June and 11.3% from last July.

Sales prices for condos have been lower than the year before nine months in a row.

The sales price to list price ratio fell from 101.3% to 100.6%.

Condo sales were down 25.1% year-over-year.

Inventory continues to expand. It has been higher than the year before fourteen months in a row.

As of August 5th, there were 625 condos for sale in Santa Clara County. The average since January 2000 is 757.

Days of inventory fell to sixty-six.

It took an average of twenty-seven days to sell a condo last month.

If you are planning on selling your property, call me for a free comparative market analysis.

Real Estate Report – June 2019

The median sales price for single-family, re-sale homes in June was down for the fifth month in a row and seven of the past eight months, year-over-year. It fell 4.1%. The average sales price was down for the eighth month a row. It fell 4.5%.

The sales price to list price ratio dropped to 101.6% from 102.2%.

Home sales dropped 17.6% from May, and they were down, year-over-year, for the fourteenth month in a row: 16.4%. There were 817 homes sold in Santa Clara County last month. The average since 2000 is 987.

Inventory continues to expand. It has been higher than the year before thirteen months in a row. Last month, it was up 42% over last year.

Days of Inventory, or how long it would take to sell all homes listed for sale at the current rate of sales, gained ten days to 54 days compared to May. The average since 2003 is 89.

As of July 5th, there were 1,514 homes for sale in Santa Clara County. The average since January 2000 is 2,778.

It is taking twenty-four days to sell a home. That is the time from when a home is listed to when it goes into contract.

Prices for re-sale condos were up last month from the month before but were down year-over-year. Sales prices for condos have been lower than the year before seven months in a row.

The sales price to list price ratio was 101.3%.

Condo sales were down 21.2% year-over-year.

Inventory continues to expand. It has been higher than the year before thirteen months in a row.

As of July 5th, there were 697 condos for sale in Santa Clara County. The average since January 2000 is 757.

Days of inventory rose to sixty-eight.

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.

Real Estate Report – May 2019

Prices for single-family, re-sale homes were up in May from April. The median sales price rose 2.9% and the average sales price rose 0.1%. Year-over-year was a different story with prices down. The median sales price was off 5.5% and the average sales price fell 3.7%.

The sales price to list price ratio, which had a peak last spring of 112.4%, had dropped ten months in a row before bottoming out at 99.5% in January. It has risen every month since then. Last month it was up to 102.2%.

Home sales rose 40.4% from April, but they were down, year-over-year, for the thirteenth month in a row. There were 991 homes sold in Santa Clara County last month. The average since 2000 is 987.

Inventory continues to expand. It has been higher than the year before twelve months in a row. Last month, it was up 49.2% over last year.

Days of Inventory, or how long it would take to sell all homes listed for sale at the current rate of sales, was down to 44 days. The average since 2003 is 89.

As of June 5th, there were 1,450 homes for sale in Santa Clara County. The average since January 2000 is 2,778.

It is taking twenty-three days to sell a home. That is the time from when a home is listed to when it goes into contract.

Prices for re-sale condos were up last month from the month before but were down year-over-year.

The sales price to list price ratio was 101.3%.

Condo sales were down 4.5% year-over-year.

Inventory continues to expand. It has been higher than the year before twelve months in a row.

As of June 5th, there were 648 condos for sale in Santa Clara County. The average since January 2000 is 757.

Days of inventory dropped to fifty-one.

It took an average of twenty-four days to sell a condo last month.

If you are planning on selling your property, call me for a free comparative market analysis.