Santa Clara is the home to Intel and the San Francisco 49er’s football team.

This┬áchart shows the distribution of prices for single family residences in Santa Clara during 2017. Home prices are significantly lower than Santa Clara’s northern neighbors, with home prices in the $500k to $2.0M price range.

Santa Clara home prices jumped 17.2% in 2017. The annual increase in the median price for Santa Clara homes has averaged 6.9% per year since 1998 (CAGR).

The above scatter chart shows the distribution of both home sizes (SQFT) and the $ per SQFT for Santa Clara homes in 2017. Note how $/SQFT varies by home size and the distribution of home sizes. Each home sale is represented by a single dot.

Market demand for Santa Clara homes continues at 20-year highs. The annual average Days on Market (red line) are at all-time lows and the final sales vs. list price (blue line) is also at historic highs.

The scatter chart above shows the distribution of the sales vs. list price of 10.7%. Note that homes that sell after one weekend on the market typically sell for well over list price. Each home sale in 2017 is represented by a single dot.

The annual supply of New Listings for Santa Clara homes actually increased slightly in 2017. The annual supply of new listings for Santa Clara homes has declined from around 950 per year in 2002–06 to 685 in 2017.

A view of the quarterly median price provides some insight to how the current market is moving. Note how the current market run started in early 2012 and is increasing at a faster rate.

This monthly view of median prices for Santa Clara homes provides more insight into the ebb and flow of our real estate market. Keep in mind that the monthly fluctuation may be due to a change in the mix of homes selling in a particular month, not necessarily changes in home values.

The monthly inventory of Active listings in 2017 was significantly lower than prior years, even with an increase in the supply of New Listings. An indication of growing Buyer demand.

The monthly supply of new listings for homes in Santa Clara. Note the seasonality with December typically being the low-point during the year

This Days on Market chart shows the monthly average for Santa Clara homes sold. The spikes are typically in Dec-Jan during the slowest time of the year.

The monthly average sales price over/under list price increased significantly in 2017 over 2016, basically a return to 2015 levels. Note how you can see the beginning of this market in the spring of 2012.

The number of Closed Sales increased to 638 in 2017 following an increase in the supply of New Listings.

 

Sources: The data above is obtained directly from MLSlistings, the multiple listing service (MLS) serving Santa Clara and San Mateo counties. The information is deemed to be accurate, however is not guaranteed.