Brady and Son Realty

A Real Estate Team from Keller Williams Silicon City

Fulfilling Dreams, one Home at a Time.

Whether you are selling, buying, or investing, our goal is to meet your Real Estate needs so well that you recommend us to your family and friends.

2221 Oakland Road #268, San Jose, CA 95131

Phone: 408-868-8052

Santa Clara County Real Estate

San Jose before Silicon Transistors

Area Profile

Demographics

Economy

County Government

Santa Clara County is governed by a Board of Supervisors consisting of 10 members elected to overlapping 4-year terms. Supervisors are elected by district.
Santa Clara County Government Building on Heading Street.

Santa Clara County Real Estate Market

Average Sales Price and Sales-to-List-Price Ratio

Santa Clara County Average Price Graph
Santa Clara County Real Estate Trends: 12-month Average Sales Price and Average Sales to List Price Ratio by Month

The graph above shows that after dramatic price increases in 2017 and 2018, Santa Clara County home prices have remained relatively stable in the past twelve months. This is especially noteworthy considering the uncertainties of COVID-19 since the Shelter-in-Place actions began on March 16. A slight uptick in the past two month demonstrates continued strong demand for housing in the Bay Area.

The sales-price-to-list-price ratio line shows that bidding wars had fundamentally subsided in many markets until February when COVID fears sparked buyers into action. Once SIP rules were in place, bidding plummeted back down to average near list price in May. Recent price growth is in keeping with historical norms for spring, though inventory is down to nearly half of last year’s numbers. With economic uncertainty looming because of COVID-related lay-offs and business closures, now may be an opportune time for sellers to capture equity and, at the same time, for buyers to take advantage of historically low interest rates to purchase before COVID-driven costs drive prices, and therefor inflation and interest rates, higher.

Sales as a Function of Price

Santa Clara County Sales by Price Range
Santa Clara County Real Estate Trends: 6-month Residential sales by price range

The histogram above shows the breakdown of residential home sales by price range. Note that this time period is dominated by the impacts of COVID on real estate showings and inventory. Here we see three peak market segments: the first from $600,000-$1,000,000, which are generally condos and single family homes in South County and other peripheral regions. The second at $1,200,000 to $1,400,000, comprised mainly of single family homes; and the third at $2,000,000 to $3,000,000. About half the homes sold for $1,100,000 or less, down from $1,200,000 a year ago.

Santa Clara County Average Days to Sell
Santa Clara County Real Estate: 6-month Average: Days to Sell versus Price Range

Time on market as a function of price

Properties sold in the past 6 months have generally stayed on the market for 2-3 weeks, down from 3-5 weeks just a month ago. Contrast that with the heat of the 2018 market when most homes sold in 15 days or less and in many price ranges, homes were gone in under a week. Still, buyers in the $1,600,000 to $1,800,000 price range need to move quickly because the average home sells in 11 days, down from 15 last month. Curiously enough, homes in the bottom of the market and Luxury homes in the $5,000,000 and up price bracket take about the same amount of time to sell suggesting that listing agents at both extremes are having challenges finding qualified, serious buyers.

Sales to list price as a function of price

In the sale-price-to-list-price-ration histogram here, we see that winning offers average between list and 4%  above across all but the highest price range, again indicating the market remains strong despite COVID challenges. Again, specific areas have their own trends, but there is still positive pressure on home prices across the county-wide market.

Santa Clara County Sales to list price ratio by price range
Santa Clara County Real Estate: 6-month Average Sale Price to List Price Ratio by Price Range

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The accuracy of the information displayed in this site is not guaranteed. The user is advised to conduct their own investigations to validate any information on which purchase or sale decisions are made. Data from the Multiple Listings Service subject to applicable limits on accuracy and content.

Original content ©2018, 2019, 2020 Brady and Son Realty Team @ KW Silicon City . Referenced images and data subject to originator copyrights.