Single family home sales in both Santa Clara and San Mateo Counties dipped a bit month-over-month in July. But inventory, days on the market, and median sales prices are still much stronger than one year ago.
943 Larkspur Ave
Sunnyvale, CA 94086
3 Beds | 2 Baths | 1,533 sqft | $1.798M
Open House - Sat 8/21 1:30-4:30pm
1248 Brenton Ave
San José, CA 95129
4 Beds | 2.5 Baths | 1,798 sqft | $2.098M
Open House - Sat 8/21 1:30-4:30pm
369 Blackwell Dr
Los Gatos, CA 95032
3 Beds | 2.5 Baths | 2,541 sqft | $2.485M
Open House - Sat 8/21 1:30-4:00pm
Last week, we took a look at rising year-over-year numbers for the house and condo markets in San Mateo County, and we’re seeing the same in Santa Clara County. Sales and median prices have increased significantly since this time in 2020.
The difference between the counties comes down to the time condos are spending on the market, with Santa Clara showing a decline over the past year. This makes for an even tighter market in the South Bay.
Like it’s been for months now, the market stayed hot in June, especially in San Mateo County, where home sales are up and the median price is 25% higher than one year ago at the height of the pandemic.
Meanwhile, condo sales volume and prices are up, but properties are staying on the market longer than they were last year. This could be a byproduct of buyers seeking more space for working from home in the new normal.
You don’t have to take our word for it. Housing demand and short supply is making this a sellers’ market, and bidding wars are becoming more common. Think you’ve had a rough time? NPR has the story of a couple who bid on 40 homes — with nothing to show for it.
