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Santa Clara County Real Estate Market Report

 

Santa Clara County Real Estate

7 Months after the Pandemic Struck

October 2020 Report 

The table below compares Q3 statistics across 5 years. This year, the pandemic pushed the typical heat of the spring Q2 market to Q3. As mentioned in previous reports, the condo market has been softer than the house market, a common dynamic in most of the Bay Area.
 
 

Median House & Condo Sales Price Trends by Quarter




Median sales prices can rise because of increases in fair market value – i.e. buyers are paying more money for the same home (supply and demand) – and/or because buyers are purchasing larger, more expensive houses. Both dynamics are probably currently at play, but it is certain that affluent and very affluent buyers have made up a dramatically increasing percentage of the total market throughout the Bay Area. In Santa Clara County, the average size of houses sold in Q3 saw a large year-over-year jump. 
 


Annual percentage changes in median house sales price: The 2020 YTD percentage will almost certainly change, one way or another, by the time full-year sales data is in.



Supply & Demand 





Median House Sales Price Trends by City 

& by San Jose Neighborhood













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