Is Santa Clara County, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Santa Clara County has remained a Seller's Market.
Key Takeaway
Santa Clara County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Santa Clara County, CA
How much do homes in Santa Clara County, CA cost?
Median Sold Price
$1,545,030
$942/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Santa Clara County have sold for 10.4% more than they did a year ago.
Summary: The median home sold price in Santa Clara County was $1,545,030 in May 2024, up 10.4% from last year, and the median price per square foot was $942.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $576.3K | $574K | -0.4% |
| 2 Bedrooms | $861.7K | $914.3K | +6.1% |
| 3 Bedrooms | $1.4M | $1.5M | +9.1% |
| 4 Bedrooms | $1.7M | $1.9M | +7.5% |
| 5+ Bedrooms | $2.3M | $2.7M | +15.6% |
Summary: Santa Clara County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.4%, 2 bedroom homes increased by 6.1%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes increased by 15.6%.
Median Sold Price Compared To Nearby Counties
| Santa Clara County | $1.4M | $1.5M | +10.4% |
| Alameda County | $1.0M | $1.1M | +5.9% |
| San Mateo County | $1.5M | $1.6M | +4.5% |
| Santa Cruz County | $1.1M | $1.1M | -2.5% |
Housing Supply in Santa Clara County, CA
How many homes are available in Santa Clara County, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3,025 | 3,447 | +14.0% |
Summary: The Santa Clara County real estate market had 3,447 homes for sale in May 2024, a 14.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 126 | 125 | -0.8% |
| 2 Bedrooms | 599 | 671 | +12.0% |
| 3 Bedrooms | 1,087 | 1,200 | +10.4% |
| 4 Bedrooms | 903 | 1,029 | +14.0% |
| 5+ Bedrooms | 310 | 422 | +36.1% |
Summary: The Santa Clara County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 0.8%, 2 bedroom homes increased by 12%, 3 bedroom homes increased by 10.4%, 4 bedroom homes increased by 14%, and 5+ bedroom homes increased by 36.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1,109 | 1,288 | +16.1% |
Asking Price vs. Sold Price
195 Homes Were Sold
Under Asking
76 Homes Were Sold
At Asking
955 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Santa Clara County, you could pay more than the asking price. 77.9% of homes here sold above asking price last month.
Summary: A total of 1,288 homes were sold or pending in Santa Clara County in May 2024, up by 16.1% month-over-month. Of the 1,226 sold homes, 16% were sold under asking, 6% were sold at asking, and 78% were sold over asking.
Days on Market for Santa Clara County, CA
How long does it take to sell a home in Santa Clara County, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 18 Days | 13 Days | -24.9% |
Summary: Homes in Santa Clara County had an average of 13 days on market in May 2024, down by 24.9% compared to last year.
Breakdown of Home Sale Times
1,156 Homes Were Sold
Under 30 Days
109 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Santa Clara County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 1288 homes were sold in Santa Clara County; 90% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.
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