real estate market report
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.)
Late-Summer Early-Autumn 2020: Three Silicon Valley Counties
Santa Clara County Real Estate Market Report for September 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 2-3% since last year, though in September the median sale price is almost 16% higher in 2020 than in 2019! Since last month, sales prices are up a hair and median list price is down approximately 2% from last month, though it is up around 10% compared to 2019. Of course, it hasn’t been even growth. Late summer 2019 and winter saw drops after last year’s highest peak in sales price around late spring. We’re currently nearing the usual seasonal start of cooling, but activity is strong with both prices and the sales to list price ratio coming above the sales averages of 2019, although still below peak prices from May 2018.
And the condominium and townhouse report for Santa Clara County:
This year shows about a 5% drop in sales price for condos and townhomes since last year, and about a 3% dip in median sales price and a stable median list price from last month.