Median List Price $ 599,894
Average List Price $ 618,108
Total Inventory 208
Most Expensive Listing $ 1,195,000
Least Expensive Listing $ 249,950
Average Days on Market 167
Asking Price per Square Foot $ 420
Absorbed This Week* 23
Percent of Properties with Price Decrease 45 %
Percent Relisted (reset DOM) 15 %
Market Action Index 17
Median Number of Bedrooms 3.0
Median Number of Bathrooms 2.0
Median House Size (sq ft) 1,380
Median Lot Size 4500 – 6000 sq ft
Median Age 53

Average days on market appear to still be advancing.  We should take a closer look at this to see which segments of the Santa Clara real estate market are performing better than others.  Also inventory appears to be plateauing for the spring, it will be interesting to see if the market slows down in the summer and if it follows the typical Santa Clara real estate cycle.

The Market Action Index (MAI) illustrates the balance between supply and demand using a statistical function of the current rate of sale versus current inventory. 

An MAI value greater than 30 typically indicates a “Seller’s Market” (a.k.a. “Hot Market”) because demand is high enough to quickly gobble up available supply. A hot market will typically cause prices to rise. MAI values below 30 indicate a “Buyer’s Market” (a.k.a. “Cold Market”) where the inventory of already-listed homes is sufficient to last several months at the current rate of sales. A cold market will typically cause prices to fall.

Here we analyze the MAI for all the four different quartiles in the Santa Clara market to see how each one is performing.  The top and bottom end of Santa Clara homes are performing better than the middle tiers as you can see.

This graph is showing supply and demand of homes.  How many homes are being listed versus how many homes are being sold in Santa Clara.  At the beginning of the year things were looking bleak, but it appears that the graph is moving where sales will begin to over take the listings.  This should help lower inventory numbers.

Santa Clara Real Estate Guy

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