Santa Clara Community - Levi Stadium

December 2022

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

The median home price jumped 13% during the first nine months of 2022, following a 13% jump in 2021. Current level appears to be on the trendline starting 10 years ago in 2012. The annual increase in the median price for Santa Clara homes has averaged 7.2% per year since 1998 (CAGR).

Market demand for Santa Clara homes is high and rising. The final sales vs. list price (blue line) is increasing to all-time highs. The annual average Days on Market (red line) declines to all-time lows. 

The supply of New Listings for Santa Clara homes (blue line) continues at historically low levels. The number of Sales (red line) remains fairly consistent with prior years.

Santa Clara homes are typically in the $1.0M to $2.0M price range. 

The $/SQFT varies. The scatter chart above shows the distribution of both size of homes and their $/SQFT.  The dots represent a home sale in 2021.

Quarterly median prices returned to 2021 levels after a jump during the first two quarters.

The monthly median price has been consistent during 2022. 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 average Days on Market is at all-time lows. The spikes are typically in Dec-Jan during the slowest time of the year.

The monthly average final sales over list price has jumped back up to high levels.

Final sales price vs. list price spiked in early 2022 and appears to be returning to more normal levels. Homes selling during the first two weeks on market typically sell for over list, while homes on the market typically sell for under list. Note: this is using the current list price, which may be after a price reduction.

The monthly supply of New Listings for homes in Santa Clara is fairly consistent with previous years. Note the seasonality with December typically being the low-point during the year.

The Inventory of Active listings is lower than previous years.

The number of Sales is consistent with previous years.

Source: 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.