Real Estate Report presented by Melanie Kemp

June 2022 Report

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


Median Price
$1,810,000
-6.0%
Average Price
$2,216,370
-4.1%
No. Sold
838
-5.4%
Pending Properties
1,210
-12.0%
Active
1,108
+19.9%
Sale/List Price Ratio
106.3%
-5.6%
Days on Market
14
+29.9%
Days of Inventory
38
+22.6%

Market Barometer

Enlarge >
Loading...

Market Commentary

Sales Prices Weaken, Sales Down

The median sales price for single-family, re-sale homes fell, month-over-month, for the second month in a row. It was down 6% from May. Nevertheless, it was up 3.6% compared to last year. That’s the thirty-first month in a row the median sales price has been higher than the year before.

The average sales price for single-family, re-sale homes was down, month-over-month, for the third month in a row. It lost 4.1% from May. It was up 3.6% year-over-year.

The sales price to list price ratio fell from 112.6% to 106.3%. Multiple offers continue to be the norm.

Sales of single-family, re-sale homes were down for the tenth month in a row, year-over-year, in June. Sales fell 27.9%. There were 838 homes sold in Santa Clara County last month. The monthly average since 2000 is 987.

Pending sales were down 10.5% 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 fourth month in a row. It gained 78.4% compared to last year. As of July 5th, there were 1,108 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 31 days to 38 days. The average since 2003 is 89.

It took only fourteen 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 6.8% compared to last June. The average sales price gained 5.5% year-over-year.

Condo sales were down 37% year-over-year. There were 351 condos sold in May.

The sales price to list price ratio fell from 110.1% to 105.6%.

Condo inventory rose 22.5% compared to last June.

As of July 5th, there were 474 condos for sale in Santa Clara County. The average since January 2000 is 757.

Days of inventory rose from twenty-eight to thirty-nine.

It took an average of fourteen 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...