Real Estate Report presented by Melanie Kemp

June 2024 Report

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


Median Price
$1,960,000
-6.7%
Average Price
$2,394,460
-1.8%
No. Sold
727
-14.6%
Pending Properties
664
-5.1%
Active
778
+4.7%
Sale/List Price Ratio
107.3%
-1.8%
Days on Market
16
+15.5%
Days of Inventory
31
+18.5%

Market Barometer

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Market Commentary

Home Prices Up, Sales Down in June

The median sales price for single-family, re-sale homes was up 8.3% compared to last year. The median sales price was $1,960,000.

The average sales price for single-family, re-sale homes was up 10.6% year-over-year. The average sales price was $2,394,460.

Sales of single-family, re-sale homes were down 0.3%, year-over-year, in June. There were 727 homes sold in Santa Clara County last month. The monthly average since 2000 is 987.

The sales price to list price ratio fell from 109.2% to 107.3%.

Pending sales were up 29.7% year-over-year. There are 664 homes in escrow.

Inventory of single-family, re-sale homes was up 30.3% compared to last year. As of July 5th, there were 778 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 26 days to 31 days. The average since 2003 is 89.

It took sixteen 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.

Condo prices were also up last month. The median sales price for condos was up 1.7% compared to last June. The median sales price was $1,063,000. The average sales price gained 4.4% year-over-year. The average sales price was $1,123,550.

Condo sales were up 8.8%. There were 309 condos sold in June.

The sales price to list price ratio fell from 105.3% to 104.4%.

Pending sales were up 55.8% year-over-year. There are 282 condos in escrow.

Condo inventory was up 73% compared to last June.

As of July 5th, there were 422 condos for sale in Santa Clara County. The average since January 2000 is 757.

Days of inventory rose from thirty-three to forty.

It took an average of seventeen 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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