$10,000 Closing Credit*
$1,974,999
2,336 SqFt
4 Beds
•4 Full Baths
Karen Nelsen, Listing Office: Intero Real Estate Services
Is South Santa Clara Valley, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, South Santa Clara Valley has remained a Seller's Market.
Key Takeaway
South Santa Clara Valley is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Santa Clara Valley, CA
How much do homes in South Santa Clara Valley, CA cost?
Median Sold Price
$1,223,625
$593/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$102,375(+9.1%)
Key Takeaway
Homes in South Santa Clara Valley have sold for 9.1% more than they did a year ago.
Summary: The median home sold price in South Santa Clara Valley was $1,223,625 in October 2024, up 9.1% from last year, and the median price per square foot was $593.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $510K | $453K | -11.2% |
| 2 Bedrooms | $700K | $765K | +9.3% |
| 3 Bedrooms | $950K | $1.0M | +9.9% |
| 4 Bedrooms | $1.2M | $1.3M | +4.3% |
| 5+ Bedrooms | $1.5M | $1.6M | +11.3% |
Summary: South Santa Clara Valley housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.2%, 2 bedroom homes increased by 9.3%, 3 bedroom homes increased by 9.9%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes increased by 11.3%.
Median Sold Price Compared To Nearby Cities
| Llagas-Uvas | $1.4M | $1.6M | +16.6% |
| South Santa Clara Valley | $1.1M | $1.2M | +9.1% |
| Morgan Hill | $1.2M | $1.3M | +8.1% |
| Gilroy | $1.0M | $1.0M | +7.4% |
| San Martin | $1.9M | $1.5M | -17.1% |
Housing Supply in South Santa Clara Valley, CA
How many homes are available in South Santa Clara Valley, CA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 243 | 273 | +12.3% |
Summary: The South Santa Clara Valley real estate market had 273 homes for sale in October 2024, a 12.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 3 | -40.0% |
| 2 Bedrooms | 28 | 33 | +17.9% |
| 3 Bedrooms | 63 | 73 | +15.9% |
| 4 Bedrooms | 97 | 117 | +20.6% |
| 5+ Bedrooms | 50 | 47 | -6.0% |
Summary: The South Santa Clara Valley housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 40%, 2 bedroom homes increased by 17.9%, 3 bedroom homes increased by 15.9%, 4 bedroom homes increased by 20.6%, and 5+ bedroom homes decreased by 6%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 50 | 63 | +26.0% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
29 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Santa Clara Valley, you could pay more than the asking price. 46.8% of homes here sold above asking price last month.
Summary: A total of 63 homes were sold or pending in South Santa Clara Valley in October 2024, up by 26.0% month-over-month. Of the 62 sold homes, 35% were sold under asking, 18% were sold at asking, and 47% were sold over asking.
Days on Market for South Santa Clara Valley, CA
How long does it take to sell a home in South Santa Clara Valley, CA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 25 Days | 32 Days | +25.8% |
Summary: Homes in South Santa Clara Valley had an average of 32 days on market in Oct 2024, up by 25.8% compared to last year.
Breakdown of Home Sale Times
38 Homes Were Sold
Under 30 Days
21 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Santa Clara Valley are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 63 homes were sold in South Santa Clara Valley; 60% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
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