Is Santa Clara, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Santa Clara has remained a Seller's Market.
Housing Prices in Santa Clara, CA
How much do homes in Santa Clara, CA cost?
Median Sold Price
$1,605,750
$1,036/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Santa Clara was $1,605,750 in May 2024, up 10.5% from last year, and the median price per square foot was $1,036.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $535K | $485K | -9.3% |
2 Bedrooms | $890K | $890K | 0.0% |
3 Bedrooms | $1.5M | $1.6M | +7.3% |
4 Bedrooms | $1.7M | $1.9M | +12.6% |
5+ Bedrooms | $2.0M | $2.2M | +6.5% |
Summary: Santa Clara housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.3%, 2 bedroom homes did not change, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 12.6%, and 5+ bedroom homes increased by 6.5%.
Housing Supply in Santa Clara, CA
How many homes are available in Santa Clara, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
210 | 223 | +6.2% |
Summary: The Santa Clara real estate market had 223 homes for sale in May 2024, a 6.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 17 | 21 | +23.5% |
2 Bedrooms | 51 | 61 | +19.6% |
3 Bedrooms | 99 | 92 | -7.1% |
4 Bedrooms | 33 | 40 | +21.2% |
5+ Bedrooms | 10 | 9 | -10.0% |
Summary: The Santa Clara housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 23.5%, 2 bedroom homes increased by 19.6%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes increased by 21.2%, and 5+ bedroom homes decreased by 10%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
82 | 87 | +6.1% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
70 Homes Were Sold
Over Asking
Summary: A total of 87 homes were sold or pending in Santa Clara in May 2024, up by 6.1% month-over-month. Of the 83 sold homes, 11% were sold under asking, 5% were sold at asking, and 84% were sold over asking.
Days on Market for Santa Clara, CA
How long does it take to sell a home in Santa Clara, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
13 Days | 12 Days | -10.7% |
Summary: Homes in Santa Clara had an average of 12 days on market in May 2024, down by 10.7% compared to last year.
Breakdown of Home Sale Times
80 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 87 homes were sold in Santa Clara; 92% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.