March 2021 Report
Single Family Homes in Santa Clara County, All Cities, All Neighborhoods Change >
Average Price$1,930,800
+6.7%
Pending Properties1,289
+32.7%
Sale/List Price Ratio108.9%
+2.3%
Days of Inventory21
-22.8%
Trends at a Glance
| Trends At a Glance |
Mar 2021 |
Previous Month |
Year-over-Year |
| Median Price |
$1,600,000 (+7.7%) |
$1,485,000 |
$1,400,000 (+14.3%) |
| Average Price |
$1,930,800 (+6.7%) |
$1,809,470 |
$1,678,190 (+15.1%) |
| No. of Sales |
858 (+47.2%) |
583 |
623 (+37.7%) |
| Pending |
1,289 (+32.7%) |
971 |
642 (+100.8%) |
| Active |
595 (+2.2%) |
582 |
864 (-31.1%) |
| Sale vs. List Price |
108.9% (+2.3%) |
106.5% |
105.5% (+3.2%) |
| Days on Market |
18 (-26.4%) |
25 |
20 (-9.6%) |
| Days of Inventory |
21 (-22.8%) |
27 |
42 (-50.0%) |
Market Commentary
The median sales price for single-family, re-sale homes set a new high for the second month in a row. It was $1,600,000 last month, a gain of 14.3% compared to last year. That’s the seventeenth 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 14.9% year-over-year.
The sales price to list price ratio went from 106.5% to 108.9%. Multiple offers are the norm.
Sales of single-family, re-sale homes were up 40.2% year-over-year in March. There were 858 homes sold in Santa Clara County last month. The monthly average since 2000 is 987.
This was the seventh month in a row that home sales were higher than the year before.
Pending sales were up 76.8% year-over-year.
Inventory of single-family, re-sale homes was down 11.1% compared to last year. That is the nineteenth month in a row inventory has been lower than the year before. As of April 5th, there were 595 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 21 days compared to February. 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 10.3% from last March. The average sales price gained 10.9% year-over-year.
Condo sales were up 46.5% year-over-year. There were 422 condos sold in March.
The sales price to list price ratio went from 102.4% to 102.9%.
Condo inventory rose 49.5% compared to last March.
As of April 5th, there were 414 condos for sale in Santa Clara County. The average since January 2000 is 757.
Days of inventory stayed at twenty-nine.
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.