Is South Santa Clara Valley, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, South Santa Clara Valley has remained a Seller's Market.
Housing Prices in South Santa Clara Valley, CA
How much do homes in South Santa Clara Valley, CA cost?
Median Sold Price
$1,156,000
$566/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in South Santa Clara Valley was $1,156,000 in March 2024, down 2% from last year, and the median price per square foot was $566.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $504K | $453K | -10.1% |
2 Bedrooms | $731.2K | $718.4K | -1.8% |
3 Bedrooms | $990K | $975K | -1.5% |
4 Bedrooms | $1.3M | $1.2M | -1.9% |
5+ Bedrooms | $1.6M | $1.6M | -1.8% |
Summary: South Santa Clara Valley housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.1%, 2 bedroom homes decreased by 1.8%, 3 bedroom homes decreased by 1.5%, 4 bedroom homes decreased by 1.9%, and 5+ bedroom homes decreased by 1.8%.
Median Sold Price Compared To Nearby Cities
Llagas-Uvas | $1.5M | $1.6M | +6.2% |
Gilroy | $1.0M | $1.0M | +3.4% |
Morgan Hill | $1.3M | $1.3M | 0.0% |
South Santa Clara Valley | $1.1M | $1.1M | -2.0% |
San Martin | $1.6M | $1.4M | -6.9% |
Housing Supply in South Santa Clara Valley, CA
How many homes are available in South Santa Clara Valley, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
152 | 185 | +21.7% |
Summary: The South Santa Clara Valley real estate market had 185 homes for sale in March 2024, a 21.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 15 | 22 | +46.7% |
3 Bedrooms | 42 | 49 | +16.7% |
4 Bedrooms | 67 | 79 | +17.9% |
5+ Bedrooms | 27 | 34 | +25.9% |
Summary: The South Santa Clara Valley housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 46.7%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 17.9%, and 5+ bedroom homes increased by 25.9%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
46 | 61 | +32.6% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
32 Homes Were Sold
Over Asking
Summary: A total of 61 homes were sold or pending in South Santa Clara Valley in March 2024, up by 32.6% month-over-month. Of the 58 sold homes, 29% were sold under asking, 16% were sold at asking, and 55% were sold over asking.
Days on Market for South Santa Clara Valley, CA
How long does it take to sell a home in South Santa Clara Valley, CA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
34 Days | 23 Days | -32.3% |
Summary: Homes in South Santa Clara Valley had an average of 23 days on market in Mar 2024, down by 32.3% compared to last year.
Breakdown of Home Sale Times
48 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 61 homes were sold in South Santa Clara Valley; 79% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.