Market Updates July 28, 2020

Santa Clara County Market Reports for June 2020

Here’s some good news – single family home prices are up, sales are up and the average days on market is down compared to June 2019! This is terrific news if you’re selling your home, as this is indicative of a quick, and for some, a competitive-over-asking-price, sale.

For condominium and townhome sellers, we are seeing strong sales with 29 average days on market (i.e. how long it is on the market before going into contract with a buyer), the same as last June 2019.  Where there’s been a significant change is in the median sales price, which has dropped 10+% since last year this same time.  This may be due, in part, to the pandemic’s lifestyle switcharoo as people are looking to have more space inside and out, especially if they are going to be working more from their home.

Regardless of these statistics, it’s only a general summary and may not be indicative of what may be happening in your specific neighborhood or area.  Contact me if you’d like to know more about the market where you live or want to live, as real estate is very “hyper-local”.