Real Estate Report presented by Avi Urban

October 2022 Report

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


Median Price
$2,829,000
+1.5%
Average Price
$2,736,820
-4.9%
No. Sold
14
-26.3%
Pending Properties
33
-5.7%
Active
25
0.0%
Sale/List Price Ratio
104.8%
+5.1%
Days on Market
17
-34.5%
Days of Inventory
54
+40.4%

Market Barometer

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Market Commentary

Home Sales Prices Down

The median sales price for single-family, re-sale homes fell, month-over-month. It was down 4.9% from September. It was down 0.5% compared to last year.

The average sales price for single-family, re-sale homes was down 0.4%, month-over-month. It was down 0.5% year-over-year.

Sales of single-family, re-sale homes were down for the fourteenth month in a row, year-over-year, in October. Sales fell 38.2%. There were 619 homes sold in Santa Clara County last month. The monthly average since 2000 is 987.

The sales price to list price ratio fell from 100.4% to 100.1%. Multiple offers continue to be the norm.

Pending sales were down 20.4% year-over-year.

After being down, year-over-year, thirty months in a row, inventory of single-family, re-sale homes was up for the eighth month in a row. It gained 62.6% compared to last year. As of November 5th, there were 821 homes for sale in Santa Clara County. The average since January 2000 is 2,703.

Days of Inventory, or how long it would take to sell all homes listed for sale at the current rate of sales, rose from 37 days to 40 days. The average since 2003 is 89.

It took twenty-eight days to sell a home last month. That is the time from when a home is listed for sale to when it goes into contract.

The median sales price for condos was down 3.1% compared to last October. The average sales price fell 4.1% year-over-year.

Condo sales were down 48.7% year-over-year. There were 218 condos sold in October.

The sales price to list price ratio stayed at 100%.

Condo inventory was up 25.6% compared to last October.

As of November 5th, there were 387 condos for sale in Santa Clara County. The average since January 2000 is 757.

Days of inventory rose from thirty-six to fifty-three.

It took an average of twenty-seven days to sell a condo last month.

If you are planning on selling your property, call me for a free comparative market analysis.

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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