Is Santa Clara County, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Santa Clara County is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Santa Clara County has remained a Seller's Market.

Key Takeaway

Santa Clara County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Santa Clara County, CA

How much do homes in Santa Clara County, CA cost?

Median Sold Price

$1,500,177

$920/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$63,673(+4.4%)

Key Takeaway

Homes in Santa Clara County have sold for 4.4% more than they did a year ago.

Summary: The median home sold price in Santa Clara County was $1,500,177 in March 2024, up 4.4% from last year, and the median price per square foot was $920.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $576K$574.5K
-0.3%
2 $877.2K$900.1K
+2.6%
3 $1.4M$1.4M
+3.6%
4 $1.8M$1.8M
+2.7%
5+ $2.3M$2.6M
+10.6%

Summary: Santa Clara County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.3%, 2 bedroom homes increased by 2.6%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 10.6%.

Median Sold Price Compared To Nearby Counties

Santa Clara County
+4.4%
Alameda County
-0.3%
San Mateo County
-1.2%
Santa Cruz County
-3.1%

Housing Supply in Santa Clara County, CA

How many homes are available in Santa Clara County, CA?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
2,0212,543+25.8%

Summary: The Santa Clara County real estate market had 2,543 homes for sale in March 2024, a 25.8% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 100122
+22.0%
2 429532
+24.0%
3 721890
+23.4%
4 550723
+31.5%
5+ 221276
+24.9%

Summary: The Santa Clara County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 22%, 2 bedroom homes increased by 24%, 3 bedroom homes increased by 23.4%, 4 bedroom homes increased by 31.5%, and 5+ bedroom homes increased by 24.9%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
654904+38.2%

Asking Price vs. Sold Price

148 Homes Were Sold
Under Asking

62 Homes Were Sold
At Asking

662 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Santa Clara County, you could pay more than the asking price. 75.9% of homes here sold above asking price last month.

Summary: A total of 904 homes were sold or pending in Santa Clara County in March 2024, up by 38.2% month-over-month. Of the 872 sold homes, 17% were sold under asking, 7% were sold at asking, and 76% were sold over asking.

Days on Market for Santa Clara County, CA

How long does it take to sell a home in Santa Clara County, CA?

Average Sale Time

Mar 2023Mar 2024CHANGE
24 Days16 Days-30.3%

Summary: Homes in Santa Clara County had an average of 16 days on market in Mar 2024, down by 30.3% compared to last year.

Breakdown of Home Sale Times

784 Homes Were Sold
Under 30 Days

80 Homes Were Sold
In 30 - 90 Days

31 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Santa Clara County are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 904 homes were sold in Santa Clara County; 87% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

Newest Listings in Santa Clara County, CA

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