Snapshot and 30-day Trend: November 2016
The one clear trend in November was a drop in inventory. Every community saw inventory decline in November. Buyers were definitely on the lookout but were selective and demand was spotty, depending on location, condition and pricing.
There was less than a one month supply in Sunnyvale, Palo Alto, Mountain View, Menlo Park and Los Altos. Each of those cities saw a decline in the relative supply.
Pricing was spotty, just like demand but both Palo Alto and Sunnyvale had average sales prices that were 106% of the list price. Homes stayed on the market longer in every community except Los Gatos/Monte Sereno which saw a drop of nine days.
In the beach communities, the same trends were evident, with Capitola having less than a one month supply (only six homes actively listed). Sales were mixed, with Aptos having a 42% drop, while Capitola went from only one sale in October to six in November and Santa Clara sales jumped 17%.
Sales in Santa Clara and Capitola averaged more than 100% of the list price, while Aptos’ average sale was for 96% of list. Homes were generally on the market longer in November than October.
Aptos
44
Properties for sale right now!
95.6%
Avg sale price as % of asking
$968,000
Avg Sales Price
61
Avg Days on Market
Capitola
6
Properties for sale right now!
100.5%
Avg sale price as % of asking
$893,250
Avg Sales Price
29
Avg Days on Market
Los Altos
17
Properties for sale right now!
101.3%
Avg sale price as % of asking
$2,605,000
Avg Sales Price
32
Avg Days on Market
Los Altos Hills
25
Properties for sale right now!
99.8%
Avg sale price as % of asking
$3,723,750
Avg Sales Price
35
Avg Days on Market
Los Gatos / Monte Sereno
60
Properties for sale right now!
99.3%
Avg sale price as % of asking
$2,015,000
Avg Sales Price
40
Avg Days on Market
Menlo Park
23
Properties for sale right now!
102.8%
Avg sale price as % of asking
$1,750,000
Avg Sales Price
35
Avg Days on Market
Mountain View
11
Properties for sale right now!
103.8%
Avg sale price as % of asking
$1,875,000
Avg Sales Price
23
Avg Days on Market
Palo Alto
26
Properties for sale right now!
106.0%
Avg sale price as % of asking
$2,510,000
Avg Sales Price
22
Avg Days on Market
Santa Cruz
60
Properties for sale right now!
101.0%
Avg sale price as % of asking
$902,500
Avg Sales Price
29
Avg Days on Market
Saratoga
46
Properties for sale right now!
99.4%
Avg sale price as % of asking
$2,450,000
Avg Sales Price
52
Avg Days on Market
Sunnyvale
24
Properties for sale right now!
105.9%
Avg sale price as % of asking
$1,500,000
Avg Sales Price
25