The median sales price continued to rise throughout Santa Clara County, up 14% compared to last year. The number of sold units in 2018 dropped compared to the five past years, indicating that the market is cooling off in this area and giving buyers more opportunities to negotiate.
Asking prices followed the same trend as the last year, showing that Santa Clara County is still a seller’s market, which is less advantageous for those looking to buy.
The total number of new listings is still high compared to the last year, providing buyers with more choices and lessening the sense of urgency and competitive bidding. Buyers were quick to purchase any new listings that came on the market.
The upward trend of the number of properties for sale is also another indicator of increased options for buyers compared to last year.