Santa Clara County - Real Estate NOV 2022 Market Report

Santa Clara County real estate market is thriving. This report will give you an inside look at the latest trends in our market, including sales price and inventory data, as well as information on luxury homes. We’ll also take a look at what’s happening with rental rates so you can make informed decisions about your next move.

The Mortgage Interest Rates as of November 3,2022 are as follows: 30-Year Fixed (6.95%), 15-Year Fixed (6.29%), and 5/1 Adjustable (5.95%.)

When it comes to the 3-month rolling, median house sales price in October 2022, the data year over year was basically unchanged. The 3-month rolling, median 2-BR condo sales price on the other hand was up about 2%. Comparing October 2022 with October 2021, the number of home sales were down about 40%. The number of home sales priced at $3M+ was down approximately by 40% as well.

As of November 1, 2022, there are 1,496 Active & Coming Soon Listings, there were 94 active listings priced at $5M. Since April 2022 the percentage of active listings expire or are withdrawn without being sold had tripled for October 2022. The percentage of sales closed over final list price is now at 50%, which is 23% less than the data in April of 2022. This shows an increase in overbidding.

Check below to see the graphs and charts for this market report: 

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