The upward trend of median sales price continued countywide in Santa Clara, however, the last quarter of 2018 had the lowest median sales price of the year, also down 2% from the same quarter of 2017. The number of sold units in 2018 dropped compared to the five past years, indication that the market is cooling off in this area and giving buyers more negotiating chances.
In the last quarter of 2018, Santa Clara County experienced a buyers’ market, with sold prices lower than the asking prices. However, the overall upward trend during the year indicates that Santa Clara is still a sellers’ market countywide, less advantageous for those looking to buy.
The total number of new listings dropped in the fourth quarter of the year compared to the third quarter. This number is still high though, compared to 2017, providing buyers with more choices and lessening the sense of urgency and competitive bidding.
The number of properties on the market rose, indication that buyers had more options when shopping compared to the last year.