April 2023 Report
Single Family Homes in Santa Clara County, All Cities, All Neighborhoods Change >
Average Price$2,105,860
+3.3%
Pending Properties1,220
+10.8%
Sale/List Price Ratio104.8%
+1.9%
Days of Inventory36
+14.3%
Trends at a Glance
| Trends At a Glance | Median Price | Average Price | No. of Sales | Pending | Active |
Sale vs. List Price | Days on Market | Days of Inventory |
|---|
| Apr 2023 | $1,790,000 (+5.9%) | $2,105,860 (+3.3%) | 526 (-11.3%) | 1,220 (+10.8%) | 644 (+4.9%) | 104.8% (+1.9%) | 19 (-23.8%) | 36 (+14.3%) |
| Previous Month | $1,690,000 | $2,038,030 | 593 | 1,101 | 614 | 102.9% | 25 | 31 |
| Year-over-Year | $1,950,000 (-8.2%) | $2,312,500 (-8.9%) | 964 (-45.4%) | 1,354 (-9.9%) | 837 (-23.1%) | 116.0% (-9.6%) | 10 (+88.3%) | 25 (+41.0%) |
Market Commentary
The median sales price for single-family, re-sale homes rose, month-over-month. It was up 5.9% from March. It was down 8.2% compared to last year.
The average sales price for single-family, re-sale homes was up 3.3%, month-over-month. It was down 8.9% year-over-year.
Sales of single-family, re-sale homes were down for the twentieth month in a row, year-over-year, in April. Sales fell 45.4%. There were 526 homes sold in Santa Clara County last month. The monthly average since 2000 is 987.
The sales price to list price ratio rose from 102.9% to 104.8%.
Pending sales were down 10.1% year-over-year.
After being up, year-over-year, thirteen months in a row, inventory of single-family, re-sale homes was down 22.8% compared to last year. As of May 5th, there were 644 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 36 days. The average since 2003 is 89.
It took nineteen 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 12.1% compared to last April. The average sales price fell 8% year-over-year.
Condo sales were down 56.8% year-over-year. There were 218 condos sold in April.
The sales price to list price ratio rose from 101.5% to 103.2%.
Condo inventory was down 35.9% compared to last April.
As of May 5th, there were 227 condos for sale in Santa Clara County. The average since January 2000 is 757.
Days of inventory stayed at thirty.
It took an average of nineteen days to sell a condo last month.
If you are planning on selling your property, call me for a free comparative market analysis.