Real Estate Report presented by Patrice Horvath

September 2018 Report

Single Family Homes in Santa Clara County, All Cities, All Neighborhoods Change >


Median Price
$1,285,000
-4.8%
Average Price
$1,571,800
-3.3%
No. Sold
771
-9.0%
Pending Properties
760
-17.7%
Active
1,182
+2.7%
Sale/List Price Ratio
104.0%
-1.5%
Days on Market
21
+12.9%
Days of Inventory
46
+12.8%

Market Barometer

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Market Commentary

HARP® Ending This Year

HARP® will end December 31, 2018.

Introduced in March 2009, HARP enables borrowers with little or no equity to refinance into more affordable mortgages without new or additional mortgage insurance. HARP targets borrowers with loan-to-value (LTV) ratios equal to or greater than 80 percent and who have limited delinquencies over the 12 months prior to refinancing.

To see if you are eligible, go here:
https://www.harp.gov/

MARKET STATISTICS

The Silicon Valley real estate market continued to slow in August with single-family, re-sale home sales and prices lower than the month before.

Nevertheless, sales and prices were higher than the year before. The median price for homes was up 11.6% over last year, while the average price was up 10.4%.

The sales price to list price ratio, or what buyers are paying over what sellers are asking has been declining and is now at it’s lowest level since February 2017. Nevertheless, it remains in the triple digits: 104.0%.

Days of Inventory rose five days to forty-six days in August. That’s the highest the indicator has been since January 2017. Since January 2000, Santa Clara County has averaged ninety-four days of inventory.

It is taking twenty-one days to sell a home. Home sales were down, year-over-year, for the fourth month in a row. Sales fell 21.8% from last August.

The number of homes for sale is at its highest level since October 2016.

As of September 5th, there were 1,182 homes for sale in Santa Clara County.

The median price for re-sale condos was up 25% year-over-year. The average price was up 18.7%.

The sales price to list price ratio was 106.0%.

Days of inventory rose eleven days to 44. There are 419 condos for sale in Santa Clara County.

It is taking eighteen days to sell a condo.

Prices & Sales

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Days of Inventory

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Sales to Date

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Sales Price Ratio

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