Real Estate Report presented by Francis C. Rolland

January 2023 Report

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


Median Price
$1,529,000
+4.4%
Average Price
$1,932,710
+9.4%
No. Sold
262
-35.9%
Pending Properties
869
+1.9%
Active
533
+8.3%
Sale/List Price Ratio
98.9%
+0.2%
Days on Market
34
+7.8%
Days of Inventory
61
+69.1%

Market Barometer

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Market Commentary

Home Sales Prices Mixed

The median sales price for single-family, re-sale homes rose, month-over-month. It was up 4.4% from December. It was down 9.5% compared to last year.

The average sales price for single-family, re-sale homes was up 9.4%, month-over-month. It was down 5.3% year-over-year.

Sales of single-family, re-sale homes were down for the seventeenth month in a row, year-over-year, in January. Sales fell 38.9%. There were 262 homes sold in Santa Clara County last month. The monthly average since 2000 is 987.

The sales price to list price ratio rose from 98.7% to 98.9%.

Pending sales were down 4.3% 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 eleventh month in a row. It gained 59.6% compared to last year. As of February 5th, there were 533 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 36 days to 61 days. The average since 2003 is 89.

It took thirty-four 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 1.2% compared to last January. The average sales price gained 2.5% year-over-year.

Condo sales were down 53.2% year-over-year. There were 110 condos sold in January.

The sales price to list price ratio rose from 99.2% to 99.4%.

Condo inventory was up 62.5% compared to last January.

As of February 5th, there were 247 condos for sale in Santa Clara County. The average since January 2000 is 757.

Days of inventory rose from thirty-nine to sixty-seven.

It took an average of thirty-three 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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