Santa Clara County Market Data – Q3 2014

Third Quarter Market Report
Santa Clara
2013 vs 2014
Santa Clara County continues to support a robust residential real estate market. Although the inventory of homes at any given point in time has been scarce all year, the list and sale pricing remains strong, while the total number of units sold has been declining. There has been strong buyer activity all year throughout the many towns and cities in the county, which continues to result in multiple offers much of the time. The 94304 zip code in Palo Alto recently was named by the Silicon Valley Business Journal as the 4th most expensive zip code in the United States, having a median sales price of $3,331,500. Throughout the county the median sales price is just under $900,000, with the high point being reached in June.

Q3 2013Q3 2014% Change
Number of Sales4,5264,126-9%
Average Price ($000)$697 $7508%
Average DOM25264%
Months of Inventory1.31.30%

Campbell

Q3 2013Q3 2014% Change
Number of Sales1211210%
Average Price ($000)$750 $85514%
Average DOM2820-29%
Months of Inventory1.00.9-10%

Cupertino

Q3 2013Q3 2014% Change
Number of Sales13899-28%
Average Price ($000)$1,261 $1,52521%
Average DOM1614-13%
Months of Inventory0.90.7-22%

Gilroy

Q3 2013Q3 2014% Change
Number of Sales1451461%
Average Price ($000)$520 $57410%
Average DOM5241-21%
Months of Inventory1.92.532%

Los Altos

Q3 2013Q3 2014% Change
Number of Sales10984-23%
Average Price ($000)$1,950 $2,20013%
Average DOM19190%
Months of Inventory0.60.717%

Los Altos Hills

Q3 2013Q3 2014% Change
Number of Sales3124-23%
Average Price ($000)$2,778 $3,28918%
Average DOM5649-13%
Months of Inventory3.93.3-15%

Los Gatos

Q3 2013Q3 2014% Change
Number of Sales130119-8%
Average Price ($000)$1,272 $1,3758%
Average DOM35389%
Months of Inventory2.41.8-25%

Los Gatos Mountains

Q3 2013Q3 2014% Change
Number of Sales24240%
Average Price ($000)$838 $8522%
Average DOM7853-32%
Months of Inventory3.84.518%

Monte Sereno

Q3 2013Q3 2014% Change
Number of Sales2113-38%
Average Price ($000)$1,925 $2,14912%
Average DOM4014-65%
Months of Inventory1.54.5200%

Morgan Hill

Q3 2013Q3 2014% Change
Number of Sales1581676%
Average Price ($000)$695 $685-1%
Average DOM32359%
Months of Inventory1.72.441%

Mountain View

Q3 2013Q3 2014% Change
Number of Sales167151-10%
Average Price ($000)$854 $1,00017%
Average DOM15150%
Months of Inventory0.60.5-17%

Palo Alto

Q3 2013Q3 2014% Change
Number of Sales136121-11%
Average Price ($000)$1,784 $2,15021%
Average DOM16160%
Months of Inventory0.81.025%

San Jose

Q3 2013Q3 2014% Change
Number of Sales2,4552,278-7%
Average Price ($000)$625 $6667%
Average DOM242713%
Months of Inventory1.31.48%

Santa Clara

Q3 2013Q3 2014% Change
Number of Sales279265-5%
Average Price ($000)$650 $77519%
Average DOM18196%
Months of Inventory0.90.6-33%

Saratoga

Q3 2013Q3 2014% Change
Number of Sales10799-7%
Average Price ($000)$1,701 $1,92013%
Average DOM3533-6%
Months of Inventory2.01.6-20%

Sunnyvale

Q3 2013Q3 2014% Change
Number of Sales327288-12%
Average Price ($000)$801 $90012%
Average DOM1615-6%
Months of Inventory0.70.6-14%
Number of Sales and Average Price are for only the stated quarter/year.
Average DOM and Months of Inventory are based on statistics for the last month of the stated quarter.
Source: TrendGraphix Jul-Sep 2014