We’re not out of the woods yet.

Driven by a local boom in the AI field, Santa Clara County median house and townhouse sales prices spiked 9% over 2023, topping $1.8 million and setting all-time highs. And while the median condo price was basically unchanged, the numbers of new listings and sales rose substantially. Still, sales volume remained well below what we’ve come to expect, and time on the market did not substantially drop.

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Market Snapshot: Santa Clara County

January sales numbers are in, and it looked a lot like December – slow. But it’s typical for sales to cool off during the cold winter months. You can expect things to pick up in March, even with inventory and prices in a continued state of flux. Some things in the housing market never change!