Real Estate Report presented by Tony Ngai

April 2022 Report

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


Median Price
$1,950,000
0.0%
Average Price
$2,312,260
-0.8%
No. Sold
960
+19.1%
Pending Properties
1,392
-0.8%
Active
757
+26.2%
Sale/List Price Ratio
116.1%
-1.6%
Days on Market
10
-12.9%
Days of Inventory
23
+2.4%

Market Barometer

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Market Commentary

Sales Prices Continue to Set New Highs

The median sales price for single-family, re-sale homes rose 18.4% compared to last year to set a new high for the third month in a row. It was $1,950,000. That’s the twenty-ninth 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 up 18% year-over-year.

The sales price to list price ratio fell from 118% to 116%.1. Multiple offers continue to be the norm.

Sales of single-family, re-sale homes were down for the eighth month in a row, year-over-year, in April. Sales fell 20.9%. There were 960 homes sold in Santa Clara County last month. The monthly average since 2000 is 987.

Pending sales were up 7.3% 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 second month in a row. It gained 17.4% compared to last year. As of May 5th, there were 757 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 22 days to 23 days. The average since 2003 is 89.

It took only ten 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 18% compared to last April. It set a new high for the third month in a row. The average sales gained 17.6% year-over-year. It also set a new high for the third month in a row at $1,123,240.

Condo sales were down 11.4% year-over-year. There were 497 condos sold in April.

The sales price to list price ratio rose from 111.8% to 112%.

Condo inventory fell 17.8% compared to last April.

As of May 5th, there were 310 condos for sale in Santa Clara County. The average since January 2000 is 757.

Days of inventory rose from seventeen to eighteen.

It took an average of ten 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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