Real Estate Report presented by Pam Blackman

November 2022 Report

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


Median Price
$1,588,000
-1.8%
Average Price
$1,935,870
-2.6%
No. Sold
479
-22.1%
Pending Properties
984
-7.3%
Active
705
-14.1%
Sale/List Price Ratio
99.6%
-0.6%
Days on Market
26
-8.2%
Days of Inventory
43
+6.6%

Market Barometer

Enlarge >
Loading...

Market Commentary

Market Continues to Weaken

The median sales price for single-family, re-sale homes fell, month-over-month. It was down 1.8% from October. It was down 5.5% compared to last year.

The average sales price for single-family, re-sale homes was down 2.6%, month-over-month. It was down 7.6% year-over-year.

Sales of single-family, re-sale homes were down for the fifteenth month in a row, year-over-year, in November. Sales fell 44.1%. There were 479 homes sold in Santa Clara County last month. The monthly average since 2000 is 987.

The sales price to list price ratio fell from 100.1% to 99.6%. This is the first time the ratio has been under 100% since January 2019.

Pending sales were down 18.8% year-over-year.

After being down, year-over-year, thirty months in a row, inventory of single-family, re-sale homes was up for the ninth month in a row. It gained 128.2% compared to last year. As of December 5th, there were 705 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 from 40 days to 43 days. The average since 2003 is 89.

It took twenty-six 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 3.8% compared to last November. The average sales price fell 4.2% year-over-year.

Condo sales were down 51.6% year-over-year. There were 210 condos sold in November.

The sales price to list price ratio dropped from 100% to 98.8%.

Condo inventory was up 48.5% compared to last November.

As of December 5th, there were 300 condos for sale in Santa Clara County. The average since January 2000 is 757.

Days of inventory fell from fifty-three to forty-one.

It took an average of thirty-six 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

Enlarge >
Loading...

Days of Inventory

Enlarge >
Loading...

Sales to Date

Enlarge >
Loading...

Sales Price Ratio

Enlarge >
Loading...