The Santa Clara housing market in April experienced 56 single-family homes that closed escrow, which is 5 more than closed escrow in the previous month of March.  

The average price of a home sold in April was $1.59M which is about $10K lower than last month’s figure of $1.6M.  The median price home sold was $1.62M, about $70K higher than March’s median price.

The average cost per square foot increased from $1025 per Sq. Ft. to $1075. Of the 56 homes sold in April, 49 sold over the list price. 

On average homes that sold did so at 10.24% over asking compared to 9.64% over asking in the previous month.

We started the month of April with 15 active single-family home listings and finished with 37 single family homes for sale in all of Santa Clara.

During this time of year we see the inventory of homes for sale increasing.  Buyers up until now have been able to absorb new inventory and as a result inventory levels have remained pretty low.  That has started to change in May.

Keep in mind that April marks the beginning of the Prop 19 period where homeowners can buy and sell, and transfer their existing property tax basis to a new home anywhere in California.  This was designed to help motivate homeowners to move, and lead to more home sales.

Altos Research Market Data For Santa Clara

There have been areas of the valley such as South San Jose where inventory has noticeably increased about 20% in the last month.  

As we move further into the Spring inventory should increase. The longer inventory levels stay tight, the stronger home values will remain.

Santa Clara Market Reports

The Altos Research Market Action Index for single-family homes in Santa Clara has increased to 82 from 73 where it was last month. For more detailed reports on Santa Clara and Santa Clara Zip codes, you can access the reports here.

Santa Clara Report

95051 Report

95050 Report

95054 Report

As COVID-19 numbers drop, interest rates will trend upwards. In the last few weeks, interest rates on 30-year mortgages have been steadily increasing and are roughly up 20 basis points from the beginning of March.  

Recently interest rates have settled back down but with the fear of a inflation increasing its likely that interest rates will start moving higher.

In these tight, fast appreciating markets, some home buyers will drop out of the market due to being priced out or just fatigued by the process.

As home inventory increases this will likely mean a more favorable market for buyers, and may even result in a pullback on home prices.

Inventory for townhomes and condos has also remained relatively steady in the last month. As home buyers get priced out of single-family homes some will turn to townhomes and as a result, we have seen some townhome markets in Sunnyvale and parts of Santa Clara performing much better in recent weeks.  

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what can we expect moving forward?

Buyers, if you haven’t dropped out of the market yet due to the steep price increases, you may want to start playing it a little safe. Keep in mind that real estate in Santa Clara or any area is not general and there are always exceptions. If you a looking for a specific type of home or desirable neighborhood where these listings do not come up frequently, then it will always be a challenge to buy in any market.

Buyers who are in the market for standard 3 or 4 bedroom homes in average Santa Clara neighborhoods should be aware that this is the market that will be impacted once inventory levels start to increase.

Stay focused and keep shopping, I would expect there to be more opportunities in the next few weeks.

SellersI think there is a very strong chance that this market will stall in Summer. As the market typically does.  

With that said, if you are planning to sell you should start the process. Understand what you need to do to get your home ready, how much time that will take, and have a plan for when you expect to have your home on the market.

As always, whether you are buying or selling, be sure to understand how your home or the property you are considering ranks in the current market. Understanding the Santa Clara housing market is important when determining the right price and solid home investment.

If you have any questions about a home on the market or your home’s value, please feel free to reach out, I am happy to hear from you.

Contact Me Today

Have a question?  Interested in setting an appointment to talk about your real estate plans?  Contact me today.

Vinicius Brasil, Santa Clara Real Estate Guy

Santa Clara April 2021 Home Sales

Street AddressList PricePriceDOMBeds TotalBthsSq Ft TotalAge
2650 Birchtree Lane$2,195,000$2,550,000742|02,26350
3649 Vireo Avenue$2,188,000$2,480,000642|12,70128
4503 Billings Circle$2,200,000$2,200,000043|12,40817
300 Montclair Drive$1,680,000$2,100,0001132|01,14764
2454 Alvarado Drive$1,849,000$2,002,0003442|12,11053
739 Baylor Drive$1,798,000$1,980,0001342|01,76060
1809 Lexington Street$1,688,000$1,900,000532|12,07373
2955 Warburton Ave$1,699,000$1,900,000343|02,16964
3639 Eastwood Circle$1,698,000$1,860,000742|13,02453
3047 Cameron Way$1,488,000$1,852,000732|01,24067
4157 Tobin Circle$1,748,888$1,850,101932|12,0360
2355 Bohannon Dr$1,599,000$1,850,0001242|01,56368
1058 Las Palmas Drive$1,588,000$1,850,000732|01,45266
2814 Toledo Avenue$1,349,000$1,820,000532|01,25466
560 Meadow Avenue$1,700,000$1,816,917632|01,50862
3511 Warburton Avenue$1,749,000$1,780,000953|02,25567
2777 Forbes Avenue$1,495,000$1,770,000032|01,25466
3468 Flora Vista Avenue$1,498,000$1,755,000332|01,21267
3532 Gibson Avenue$1,599,000$1,720,000832|01,29264
1142 Maryann Drive$1,599,988$1,720,00010442|01,81066
624 Los Olivos Place Drive$1,638,000$1,700,000643|01,52065
3564 Cecil Avenue$1,480,000$1,690,000832|01,84571
2868 Holmes Place$1,398,000$1,660,000742|11,93916
2254 Gianera Street$1,675,000$1,660,0002853|02,22323
2349 Sawyer Court$1,499,000$1,650,000742|11,85044
4238 Marston Lane$1,449,888$1,650,000532|11,67119
230 Calvert Court$1,595,000$1,650,0003532|01,12965
2297 Lenox Place$1,525,000$1,630,000742|12,08623
2355 Thompson Place$1,499,000$1,600,000742|01,41771
39 Conner Place$1,498,000$1,600,000032|11,9058
3865 Eastwood Circle$1,558,888$1,580,0003752|12,01056
1660 Graham Lane$1,624,000$1,570,00012942|02,54770
1798 Fremont Street$1,298,000$1,565,000632|01,262111
2043 Cabrillo Court$1,499,000$1,560,0003432|01,61261
1282 Cabrillo Avenue$1,350,000$1,450,0001643|01,93467
4682 Burke Dr$1,388,888$1,405,0001032|01,76761
3326 Victoria Avenue$1,199,950$1,400,0001232|01,08067
946 Harrison Street$1,299,000$1,380,000531|01,462101
3886 Eastwood Circle$1,398,000$1,380,0001332|01,45755
633 Park Court$1,100,000$1,380,000821|11,00197
2163 Benton Street$1,249,000$1,360,000531|01,08371
2898 Chromite Drive$1,299,000$1,360,0001142|01,15863
4647 Demaret Drive$1,299,880$1,353,0001632|01,09561
2475 Borax Drive$1,089,000$1,350,000732|089766
2457 Amethyst Drive$1,088,000$1,350,0001031|089767
697 Los Olivos Drive$1,200,000$1,310,0002032|01,05967
2366 Warburton Avenue$1,198,000$1,300,000531|01,02171
2245 Newhall Street$1,170,000$1,250,0001532|01,13473
3713 Hillsdale Ct$1,240,000$1,240,000032|01,14765
2284 Forbes Avenue$1,000,000$1,225,000032|01,53666
1831 Laine Avenue$1,149,000$1,149,0001631|01,08669
650 Park Court$1,098,800$1,134,000822|01,05396
943 Las Palmas Drive$1,000,000$1,090,000032|01,16666
1269 Monroe Street$999,950$1,075,000621|01,057101
4154 Cheeney Street$788,888$950,0001321|11,07272
3465 The Alameda$899,000$855,0001721|094698

Santa Clara Housing Market Archive

April 2021 home sales CLICK HERE.

March 2021 home sales CLICK HERE.

February 2021 home sales CLICK HERE.

January 2021 home sales CLICK HERE.

December 2020 home sales CLICK HERE.

November 2020 home sales CLICK HERE.

October 2020 home sales CLICK HERE.

September 2020 home sales CLICK HERE.

August 2020 home sales CLICK HERE.

July 2020 home sales CLICK HERE.

June 2020 home sales CLICK HERE.

May 2020 home sales CLICK HERE.

April 2020 home sales CLICK HERE.

March 2020 home sales CLICK HERE.

January 2020 home sales CLICK HERE.

Santa Clara Real Estate Guy

If you are curious about the market or would like to discuss your real estate plans, I am happy help.

I am here to help you make the right decision for you and your family.

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