November 2020 Report
Single Family Homes in Santa Clara County, All Cities, All Neighborhoods Change >
Average Price$1,761,390
+3.0%
Pending Properties991
-13.0%
Sale/List Price Ratio103.6%
+0.3%
Days of Inventory20
-21.0%
Trends at a Glance
| Trends At a Glance |
Nov 2020 |
Previous Month |
Year-over-Year |
| Median Price |
$1,380,000 (-4.8%) |
$1,450,000 |
$1,251,500 (+10.3%) |
| Average Price |
$1,761,390 (+3.0%) |
$1,709,830 |
$1,518,460 (+16.0%) |
| No. of Sales |
954 (-9.2%) |
1,051 |
710 (+34.4%) |
| Pending |
991 (-13.0%) |
1,139 |
698 (+42.0%) |
| Active |
663 (-25.8%) |
894 |
912 (-27.3%) |
| Sale vs. List Price |
103.6% (+0.3%) |
103.3% |
100.2% (+3.4%) |
| Days on Market |
17 (-11.5%) |
20 |
33 (-47.4%) |
| Days of Inventory |
20 (-21.0%) |
26 |
37 (-45.9%) |
Market Commentary
The average sales price for single-family, re-sale homes set another high in November. It was up 16.1% year-over-year.
The median sales price for single-family, re-sale homes backed off the record high it set in October. It fell 4.8%. Nevertheless, it was up 10.3% compared to last year. That’s the thirteenth month in a row the median sales price has been higher than the year before.
Sales of single-family, re-sale homes jumped 34.7% year-over-year. Home sales were down 9.2% compared to October. There were 954 homes sold in Santa Clara County last month. Last November there were 708 homes sold. The average since 2000 is 987.
The sales price to list price ratio went from 103.3% to 103.6%.
Pending sales were up 39.4% year-over-year.
Year-to-date, home sales are down 1.8%.
Inventory of single-family, re-sale homes was down 21.3% compared to last year. That is the fifteenth month in a row inventory has been lower than the year before. As of December 5th, there were 663 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, fell six days to 20 days compared to October. The average since 2003 is 89.
It took only seventeen 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 8% from last November. The average sales price gained 5.5% year-over-year.
Condo sales were up 18.2% year-over-year. There were 370 condos sold in November.
Year-to-date, condo sales are down 4.9%.
The sales price to list price ratio from 100.9% to 100.8%.
Condo inventory rose 7.3% compared to last November.
As of December 5th, there were 514 condos for sale in Santa Clara County. The average since January 2000 is 757.
Days of inventory fell to forty from forty-eight.
It took an average of twenty-six days to sell a condo last month.
If you are planning on selling your property, call me for a free comparative market analysis.