Market Updates

Santa Clara County Second Quarter Market Report

July 24, 2018

Q2 - Santa Clara

The Santa Clara County real estate market continued to be very strong through the second quarter of 2018. The early spring multiple-offer market has continued in specific marketplaces, but inventory has increased in most of our communities, taking some of the pressure off home buyers. The single-family median sales price for Santa Clara County now stands at $1,250,000 (up 29% year-to-date!), and the average sales price is approximately 106% above asking price. There may be good news for buyers on the horizon though, as inventory has continued to be added to the market and the available-to-purchase inventory level has improved to almost 50% over this same time last year. The increased available inventory probably won’t translate into a softening of prices as much as it will allow buyers more options in their quest for the perfect home in our valley.

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