Below please find real estate market reports for three Silicon Valley counties where I’m most active: Santa Clara County, San Mateo County, and Santa Cruz County. First we’ll provide the data for single family homes, then condos and townhomes, for each region. (“Silicon Valley” is 95% within Santa Clara and San Mateo Counties, plus a little of Santa Cruz County and a small part of Alameda County. Alameda County uses a different MLS system, and I don’t usually sell there, so am not covering it in my reports.)
Winter 2020-2021: Three Silicon Valley Counties
Santa Clara County Real Estate Market Report for December 2020
First, Santa Clara County – home to San Jose, Cupertino, Sunnyvale, Mountain View, Palo Alto, Los Altos, Santa Clara, Campbell, Los Gatos, Saratoga, Monte Sereno, Milpitas, Morgan Hill, and a number of other cities and towns. This area has generally come up in price about 10% since last year, though in December the median sale price is over 13% higher in 2020 than in 2019! Since the month before, but the median sales price and list price remained close to stable with both up by around 10-12% compared to 2019. Homes took about a half-week longer to sell, in December compared to November, but compared to 2019 they’re flying off the shelves! Of course, it hasn’t been even growth. While 2019 had fairly typical seasonal patterns, 2020 experienced major changes putting pressure on the market stifling spring activity and creating a sustained high demand with severely low inventory. We’re currently at a time where seasonal cooling creates a softer market, but activity is stronger than usual driving both prices and the sales to list price ratio above the averages of 2019 without significant cooling compared to summer or autumn.
And the condominium and townhouse report for Santa Clara County:
This year shows about a 8% rise in sales price for condos and townhomes since last year, and about a 2% dip in median sales price and a relatively stable median list price from last month.