Daniel Pizano - Realtor, Broker, Agent

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Market Update

Santa Clara County

August 2017

 

Property Sales

august-2017number-of-properties-sold

August property sales were 1,026, up from 926 in August of 2016 and -3.5% lower than the 1,063 sales last month. August 2017 sales were at their highest level compared to August of 2016 and 2015. August YTD sales of 7,215 are running 6.0% ahead of last year’s year-to-date sales of 6,805.

 

 

Prices

august-2017-median-sales-price-and-average-sales-price

The median sales price in August was $1,150,000, up 17.9% from $975,000 in August of 2016 and down -0.9% from $1,161,000 last month. The average sales price in August was $1,414,164, up 11.9% from $1,264,090 in August of 2016 and up 1.1% from $1,398,577 last month. August 2017 ASP was at highest level compared to August of 2016 and 2015.

 

 

Inventory & MSI

august-2017-total-inventory-and-months-of-supply

The total inventory of properties available for sale as of August was 689, down -22.1% from 884 last month and down -52.1% from 1,437 in August of last year. August 2017 Inventory was at the lowest level compared to August of 2016 and 2015.

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The August 2017 MSI of 0.7 months was at its lowest level compared with August of 2016 and 2015.

 

 

Market Time

august-2017-days-on-market-for-sold-properties

The average Days On Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a buyer’s market, a downward trend a move towards more of a seller’s market. The DOM for August was 19, down from 21 days last month and down from 29 days in August of last year. The August 2017 DOM was at its lowest level compared with August of 2016 and 2015.

 

 

Selling Price per Square Foot

august-2017-selling-price-per-square-foot

The selling price per square foot is a great indicator for the direction of property values. Since median sales price and average sales price can be impacted by the ‘mix’ of high or low end properties in the market, the selling price per square foot is a more normalized indicator on the direction of property values. The August 2017 selling price per square foot of $750 was up 1.4% from $740 last month and up 12.6% from $666 in August of last year.

 

 

Selling Price vs Listing Price

august-2017-selling-price-versus-listing-price-ratio

The selling price vs listing price reveals the average amount that sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a buyer’s market exists, a ratio at or above 100% indicates more of a seller’s market. The August 2017 selling price vs list price of 105.7% was up from 104.9% last month and up from 100.4% in August of last year.

 

 

 

Inventory/New Listings/Sales

august-2017-inventory-new-listings-sales

This last view of the market combines monthly inventory of properties for sale along with new listings and sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of new listings in August 2017 was 1000, down -6.7% from 1,072 last month and down -8.5% from 1,093 in August of last year.

Testimonials

Daniel sold my townhome in about one week for 26k over my asking price and then got me my new home at 10k under asking price

-Stephanie R

I highly recommend Dan Pizano to help you find your home. We couldn't have done it without him!

-Megan G


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About Daniel Pizano Realtor Broker Agent

San Jose Native, Real Estate Guru, Marketing Expert. Bay Area Sports Enthusiast, Frustrated Golfer, Amateur Chef, Wanna-be Cocktail Mixologist. Web Designer. Lover of All Things Green - Gardener. Musician. Associate Broker of Coldwell Banker Residential Real Estate - Los Gatos Office. For more, follow me at @danielpizano Read More…

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Helping you find your dream home.

Everything starts with a phone call. Call us at 408.460.8401. Daniel Pizano is a top producing real estate agent and broker associate with 10 years of real estate experience. Daniel is affiliated with Coldwell Banker Los Gatos which is a top producing office in Silicon Valley and the entire Bay Area. Real estate is a relationship business. You need a knowledgeable and hardworking broker who will negotiate the best deal for you. Daniel would love to meet with you and see how he can help you achieve your dream of owning your home or selling your home. Call Daniel today!

Office Location

Daniel Pizano, broker associate
01471503
408.355.1557
Coldwell Banker Los Gatos
410 N Santa Cruz Ave
Los Gatos, CA 95030

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