2019 October home sales in Santa Clara consisted of 45 single-family homes that closed escrow, a slight increase from the 44 homes sold in September.  Average days on market decreased to 26 days from 34 days, and median days decreased to 16 from 17. The average price of a home sold in October 2019 was $1.2M which is about $40K lower than last month’s figure of $1.24M.

The Median price home sold was $1.2M, which is about $40K lower than September’s median price. The average cost per square foot decreased from $912 per sqft. to $892. Of the 45 homes sold in October, 14 sold over asking. On average homes sold -0.1% under asking compared to -1% under asking in the previous month.

We started the month of October with 45 active listings and finished with 40 active listings.  There were 53 new listings that came on in October, and 56 homes that entered into contract.

We are experiencing an interesting market. Inventory has dropped and sales have dropped, interest rates are also very low, but prices continue to settle lower. Our current market is demonstrating that buyers are being very patient in their home-buying decisions, and motivated sellers are dropping their prices to entice o