Is Santa Teresa, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Santa Teresa has remained a Seller's Market.
Key Takeaway
Santa Teresa is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Santa Teresa, CA
How much do homes in Santa Teresa, CA cost?
Median Sold Price
$1,320,000
$790/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Santa Teresa have sold for 7.6% more than they did a year ago.
Summary: The median home sold price in Santa Teresa was $1,320,000 in April 2024, up 7.6% from last year, and the median price per square foot was $790.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $524K | $517.5K | -1.2% |
| 2 Bedrooms | $650K | $662.5K | +1.9% |
| 3 Bedrooms | $1.1M | $1.2M | +11.6% |
| 4 Bedrooms | $1.3M | $1.5M | +9.2% |
| 5+ Bedrooms | $1.6M | $1.6M | +1.1% |
Summary: Santa Teresa housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.2%, 2 bedroom homes increased by 1.9%, 3 bedroom homes increased by 11.6%, 4 bedroom homes increased by 9.2%, and 5+ bedroom homes increased by 1.1%.
Median Sold Price Compared To Nearby Neighborhoods
| Hidden Glen Santa Teresa | $1.4M | $1.6M | +13.4% |
| Santa Teresa | $1.2M | $1.3M | +7.6% |
| Oak Ridge | $1.3M | $1.3M | +1.4% |
Housing Supply in Santa Teresa, CA
How many homes are available in Santa Teresa, CA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 105 | 122 | +16.2% |
Summary: The Santa Teresa real estate market had 122 homes for sale in April 2024, a 16.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 2 | -60.0% |
| 2 Bedrooms | 20 | 17 | -15.0% |
| 3 Bedrooms | 39 | 50 | +28.2% |
| 4 Bedrooms | 33 | 46 | +39.4% |
| 5+ Bedrooms | 8 | 7 | -12.5% |
Summary: The Santa Teresa housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 60%, 2 bedroom homes decreased by 15%, 3 bedroom homes increased by 28.2%, 4 bedroom homes increased by 39.4%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 50 | 51 | +2.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
40 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Santa Teresa, you could pay more than the asking price. 83.3% of homes here sold above asking price last month.
Summary: A total of 51 homes were sold or pending in Santa Teresa in April 2024, up by 2.0% month-over-month. Of the 48 sold homes, 10% were sold under asking, 6% were sold at asking, and 83% were sold over asking.
Days on Market for Santa Teresa, CA
How long does it take to sell a home in Santa Teresa, CA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 32 Days | 8 Days | -73.9% |
Summary: Homes in Santa Teresa had an average of 8 days on market in Apr 2024, down by 73.9% compared to last year.
Breakdown of Home Sale Times
48 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Santa Teresa are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 51 homes were sold in Santa Teresa; 94% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.