February 2021 Report
Single Family Homes in Santa Clara County, All Cities, All Neighborhoods Change >
Average Price$1,809,470
+11.8%
Pending Properties971
+31.9%
Sale/List Price Ratio106.5%
+2.0%
Trends at a Glance
| Trends At a Glance |
Feb 2021 |
Previous Month |
Year-over-Year |
| Median Price |
$1,485,000 (+9.2%) |
$1,360,000 |
$1,330,000 (+11.7%) |
| Average Price |
$1,809,470 (+11.8%) |
$1,618,190 |
$1,574,190 (+14.9%) |
| No. of Sales |
583 (-1.2%) |
590 |
474 (+23.0%) |
| Pending |
971 (+31.9%) |
736 |
676 (+43.6%) |
| Active |
582 (+20.2%) |
484 |
734 (-20.7%) |
| Sale vs. List Price |
106.5% (+2.0%) |
104.4% |
104.3% (+2.1%) |
| Days on Market |
25 (+6.8%) |
23 |
25 (-2.0%) |
| Days of Inventory |
27 (+9.5%) |
25 |
43 (-37.8%) |
Market Commentary
The median sales price for single-family, re-sale homes set a new high of $1,485,000 last month. It rose 11.7% compared to last year. That’s the sixteenth 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 also set a new high last month. It was up 14.8% year-over-year.
The sales price to list price ratio went from 104.4% to 106.5%. Multiple offers are the norm.
Sales of single-family, re-sale homes were up 24.3% year-over-year in February. There were 583 homes sold in Santa Clara County last month. The monthly average since 2000 is 987.
This was the sixth month in a row that home sales were higher than the year before.
Pending sales were up 29.3% year-over-year.
Inventory of single-family, re-sale homes was down 4.1% compared to last year. That is the eighteenth month in a row inventory has been lower than the year before. As of March 5th, there were 582 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 two days to 27 days compared to January. The average since 2003 is 89.
It took only twenty-five 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 7.9% from last February. The average sales price gained 7.4% year-over-year.
Condo sales were up 33.6% year-over-year. There were 342 condos sold in February.
The sales price to list price ratio went from 100.6% to 102.4%.
Condo inventory rose 55.4% compared to last February.
As of March 5th, there were 362 condos for sale in Santa Clara County. The average since January 2000 is 757.
Days of inventory fell to twenty-nine from forty-two.
It took an average of twenty-nine days to sell a condo last month.
If you are planning on selling your property, call me for a free comparative market analysis.