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 April 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
$1,178,041
$573/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in South Santa Clara Valley was $1,178,041 in April 2024, up 1.1% from last year, and the median price per square foot was $573.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $498K | $453K | -9.0% |
2 Bedrooms | $710K | $749.9K | +5.6% |
3 Bedrooms | $982.5K | $990K | +0.8% |
4 Bedrooms | $1.2M | $1.2M | +1.7% |
5+ Bedrooms | $1.5M | $1.6M | +5.2% |
Summary: South Santa Clara Valley housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9%, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 0.8%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes increased by 5.2%.
Median Sold Price Compared To Nearby Cities
Gilroy | $1.0M | $1.0M | +5.5% |
Morgan Hill | $1.2M | $1.3M | +4.8% |
Llagas-Uvas | $1.5M | $1.5M | +1.3% |
South Santa Clara Valley | $1.1M | $1.1M | +1.1% |
San Martin | $1.5M | $1.5M | +0.8% |
Housing Supply in South Santa Clara Valley, CA
How many homes are available in South Santa Clara Valley, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
176 | 219 | +24.4% |
Summary: The South Santa Clara Valley real estate market had 219 homes for sale in April 2024, a 24.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 22 | 25 | +13.6% |
3 Bedrooms | 47 | 58 | +23.4% |
4 Bedrooms | 75 | 97 | +29.3% |
5+ Bedrooms | 31 | 37 | +19.4% |
Summary: The South Santa Clara Valley housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 13.6%, 3 bedroom homes increased by 23.4%, 4 bedroom homes increased by 29.3%, and 5+ bedroom homes increased by 19.4%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
59 | 64 | +8.5% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
35 Homes Were Sold
Over Asking
Summary: A total of 64 homes were sold or pending in South Santa Clara Valley in April 2024, up by 8.5% month-over-month. Of the 59 sold homes, 27% were sold under asking, 14% were sold at asking, and 59% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
25 Days | 14 Days | -43.5% |
Summary: Homes in South Santa Clara Valley had an average of 14 days on market in Apr 2024, down by 43.5% compared to last year.
Breakdown of Home Sale Times
59 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 64 homes were sold in South Santa Clara Valley; 92% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.