Santa Clara County August 2020 Real Estate Update

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Santa Clara County is lovely this time of year!

The Santa Clara County market is currently characterized by strong demand and low supply. Higher-price home sales, in particular, have spiked up. The condo market is weaker than the house market.

Median House Sales Price – Long-Term Trends 

Supply & Demand

The number of active listings remains low.

House vs. Condo Markets

As is not uncommon in other Bay Area Counties, the condo market is substantially softer.

Selected Market Indicators

Year-over-year, the number of price reductions remains moderately low (chart 1); the average sales-price-to-list-price percentage is down from the heights two years ago (chart 2); and average days on market, though climbing a little, also remain moderately low (chart 3).

Luxury Home Sales

A comparative table on homes selling for $3,000,000+

Substantial spikes in higher-price home sales

Bay Area County Markets Comparison

This table ranks each county by the percentage of active listings going into contract in June/July 2020 – a standard statistic of market heat – compares it to the same period of last year, and then rates the year-over-year change. The Santa Clara County market is substantially hotter than last year, but some other Bay Area counties – especially outlying, more rural counties – are seeing huge year-over-year increases in demand.

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