Santa Clara County (SCC): Home Prices & Sales Up in September
The median sales price for single-family, re-sale homes was up 3.4% compared to last year.
The average sales price for single-family, re-sale homes was up 8% year-over-year. The average sales price was $2,489,170.
Sales of single-family, re-sale homes were up 16.6%, year-over-year. There were 646 homes sold in Santa Clara County last month. The monthly average since 2000 is 987.
The sales price to list price ratio rose from 102.3% to 103.4%.
Pending sales were down 3.9% year-over-year. There are 597 homes in escrow.
Inventory of single-family, re-sale homes was up 7% compared to last year. As of October 5th, there were 837 homes for sale in Santa Clara County. The average since January 2000 is 2,703.
Days of Inventory, or how long it would take to sell all homes listed for sale at the current rate of sales, rose from 35 days to 38 days. The average since 2003 is 89.
It took twenty-five days to sell a home last month. That is the time from when a home is listed for sale to when it goes into contract.
The median sales price for condos was down 6.2% compared to last year. The median sales price was $938,500. The average sales price fell 3% year-over-year. The average sales price was $1,076,820.
Condo sales were up 3.6%. There were 256 condos sold in September.
The sales price to list price ratio rose from 100.3% to 100.8%.
Pending sales were down 11.2% year-over-year. There are 247 condos in escrow.
Condo inventory was up 27.2% compared to last year.
As of October 5th, there were 603 condos for sale in Santa Clara County. The average since January 2000 is 757.
Days of inventory stayed at sixty-eight.
It took an average of thirty-seven days to sell a condo last month.
If you are planning on selling your property, call me for a free comparative market analysis.
September 2025 Sales Statistics (SCC)
* Total inventory is active listings plus pending listings. Active listings do not include 
pending.
More information is available in our on-line report at http://avi.rereport.com/market_reports
Solid Into Any Shutdown (SCC & SMC)
September 26, 2025 — The National Association of Realtors reported that sales of existing homes slid by 0.2% in August to a 4 million annual rate. Give or take a little, sales have hovered around this level for the last six months. This is unsurprising, given high home prices and mortgage rates that were essentially flat all summer, only meaningfully declining in recent weeks. The supply of homes available to buy remained at 4.6 months at the present rate of sale; based on this inventory-to-sales ratio, you would have to go back to 2016 to see the last time the I/S figure routinely in this neighborhood. Existing home prices edged a little lower in August to $422,600 but were still 2% higher this August than last. We are expecting to see somewhat greater that typical seasonal declines in median selling prices this year, but lower mortgage rates may help support buyer demand (and prices) deeper into the fall.
Market conditions really haven’t changed or improved for some time, so essentially level sales of existing homes in August were expected to be seen. What then to make of the 20.5% increase in sales of newly-constructed homes last month? Certainly, recent surveys of builder moods and reported sales conditions gave no inkling of a surge in buyer demand, but the Census Bureau reported that sales occurred in August at an 800,000 annualized pace, way above expectations. The out-of-the-blue spike puts new home sales at their best level since January 2022, but we suspect that at least some of the gains will be revised away, provided new data is actually released next month.
We know that home builders have been using price cuts and financing incentives to move homes, and the bump in sales reduced the number of new homes for sale to 7.4 months of supply at the present rate of sale, an actual 490,000 (annualized) units available. This number has been drifting down in recent months and new construction of homes has slowed over that time as well. Somewhat pricier new homes seem to have sold in August, as the median selling price bumped up to $413,500, some $18,000 more than July’s figure and up by 1.9% compared to August 2024.
After a blast higher a week ago, requests for mortgage credit leveled off, as the Mortgage Bankers Association reported a 0.6% increase in mortgage applications in the week ending September 19. Inquiries for funds to purchase homes managed a 0.3% increase for the week, a third consecutive gain. Refinancing activity shot higher a week ago but there little follow-up to that spike as the 0.8% increase in the latest week pales in comparison to the 57.7% leap the week prior. Still, refi activity remains relatively elevated and at the highest levels seen for a few years. Mortgage rates near one-year lows are compelling for at least some homeowners, especially those who hold VA and FHA-backed mortgages, as these offer streamlined refinancing opportunities.
Call or email me if you have any questions.
For further details and a city-by-city breakdown statistics, go to http://avi.rereport.com/market_reports.
Real estate related Articles
| Silicon Valley Business Journal 10-27-2025 | Homebuyers are backing out of deals at record rates. Here’s why and what it means for the housing market. | |
| The Business Journals 10-27-2025 | The 12 Bigger Cities with the Biggest Price Declines of Single-Family Homes (-10% to -23%) through Julys | |
| WOLF STREET 9-8-2025 | ||
| WOLF STREET 8-23-2025 |
|
California homeowners interested in building accessory dwelling units on their property just caught a break, potentially shaving off thousands of dollars in fees and permits.
In a move proponents say will help ease the Bay Area’s housing crisis, Gov. Jerry Brown on Tuesday signed Senate Bill 1069, making the so-called “granny units” easier and less expensive to build throughout the state.
For more read California eases restrictions on ‘granny units’ and http://www.hcd.ca.gov/policy-research/AccessoryDwellingUnits.shtml
Helpful resource for home owners
Many new home owners or owners who consider remodeling or rebuilding their homes should take advantage of their county Tax Assessor web site. These web site and their respective city building departments web site typically have vest information regarding the process for applying for permits, the impact on their taxes and many other resources that home owners should be aware are available for them.
For the San Mateo County Tax Assessor office visit http://www.smcare.org/default.asp
For Santa Clara County Tax Assessor visit https://www.sccassessor.org/index.php
The Silicon Valley 150 Index Corner
The Silicon Valley’s Real estate market is a derivative of the local economy–it prospers and withers depending on how well the local innovation-based sector performs. The San Jose Mercury News tracks the performances of the largest 150 publicly traded companies headquartered in Silicon Valley through an index called the SV150, which may be found at www.mercurynews.com. Stocks are valued based on several criteria, but one of the more important criteria is a company’s future earnings. Therefore, I see the SV150 as a leading indicator for Silicon Valley’s real estate market.
Investors Corner
S&P CoreLogic Case-Shiller Index Records Annua Gain in June 2025
- The U.S. National Index, the 20-City Composite, and the 10-City Composite continue to display growth with 1.9%, 2.1% and 2.6%, respectively.
- Housing wealth erodes in real terms for second consecutive month, with home price gains of 1.9% trailing consumer inflation of 2.7%.
- Regional leadership flips as New York (7.0%) and Chicago (6.1%) outpace former pandemic darlings Tampa (-2.4%) and Phoenix (-0.1%).
NEW YORK, AUGUST 26, 2025: S&P Dow Jones Indices (S&P DJI) today released the June 2025 results for the S&P Cotality Case-Shiller Indices, formerly known as the S&P CoreLogic Case-Shiller Indices. CLICK HERE
U.S. Housing Markets Moving Into Rent Territory for First Time in Over 8 Years: Report
Is it time to seriously consider investing in real estate?
Signup for my Real Estate Investment Alerts and you’ll receive my real estate investment opportunities.
San Mateo County (SMC): Home Prices & Sales Up in September
Sales of single-family, re-sale homes in San Mateo County rose 7.7% in September, year-over-year. There were 294 homes sold in San Mateo County last month. The average since 2000 is 398.
The median sales price for single-family, re-sale homes was $2,150,000. It was up 2.4% compared to last year.
The average sales price rose 18.7% year-over-year.
The sales price to list price ratio rose from 103.1% to 103.3%.
Inventory of single-family, re-sale homes was up 5.7% compared to last year. As of October 5th, there were 429 homes for sale in San Mateo County. The average since January 2000 is 1,287.
Days of Inventory, or the amount of time it would take to sell all homes for sale divided by how many homes have sold, rose from forty days to forty-two days.
It took thirty days, on average, to sell a home last month. That is the time from when a home is listed to when it goes into contract.
The median sales price for re-sale condos rose 0.6% year-over-year.
Year-over-year, the average sales price fell 4%.
Condo sales were down 2.4% year-over-year. There were 83 condos sold last month. The average since January 2003 is 122.
Inventory was up 11.5% year-over-year.
As of October 5th, there were 232 condos for sale in San Mateo County. The average since January 2003 is 350.
Days of inventory rose from seventy-nine to eighty-one.
It took an average of fifty-six days to sell a condo last month.
If you are planning on selling your property, call me for a free comparative market analysis.
September 2025 Sales Statistics (SMC)
* Total inventory is active listings plus pending listings. Active listings do not include pending.
You can get more information at: http://avi.rereport.com/market_reports
Call or email me if you have any questions.
For further details and a city-by-city breakdown statistics, go to http://avi.rereport.com/market_reports.