Real Estate Report presented by BOYENGA TEAM

December 2021 Report

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


Median Price
$1,750,000
+4.2%
Average Price
$2,139,610
+2.3%
No. Sold
690
-20.1%
Pending Properties
880
-23.9%
Active
205
-40.2%
Sale/List Price Ratio
111.7%
+1.2%
Days on Market
18
+15.7%
Days of Inventory
9
-22.6%

Market Barometer

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Market Commentary

Home Sales Prices Set New Highs to End the Year

The median sales price for single-family, re-sale homes rose 4.2% from November to set a new high for the sixth time in 2021. It was up 27.7% compared to last year. That’s the twenty-sixth 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 for the sixth time. It rose 2.1% from November. It was up 26.2% year-over-year.

The sales price to list price ratio went from 110.4% to 111.7%. Multiple offers continue to be the norm.

Sales of single-family, re-sale homes were down for the fourth month in a row, year-over-year, in December. Sales fell 19.8%. There were 690 homes sold in Santa Clara County last month. The monthly average since 2000 is 987.

Pending sales were up 18.8% year-over-year.

Inventory of single-family, re-sale homes was down 52% compared to last year. That is the twenty-eighth month in a row inventory has been lower than the year before. As of January 5th, there were 205 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 from 10 days to 9 days. The average since 2003 is 89.

It took only eighteen 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 13.6% compared to last December. The average sales price set a new high. It gained 17.1% year-over-year.

Condo sales were down 8.3% year-over-year. There were 321 condos sold in December.

The sales price to list price ratio stayed at 104%.

Condo inventory fell 72.2% compared to last December.

As of January 5th, there were 105 condos for sale in Santa Clara County. The average since January 2000 is 757.

Days of inventory fell three days to ten.

It took an average of twenty-four 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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