Santa Clara February 2025 Market Update: What Buyers and Sellers Need to Kno

The real estate market in Santa Clara continues to be fast-paced and competitive as we enter February 2025. With low inventory and high demand, it’s essential for both buyers and sellers to stay informed about the current trends. Here’s a breakdown of the latest market data and what it means for you.

Key Market Metrics:

Months Supply of Inventory: 0.92
The current months supply of inventory is extremely low, which means there are fewer homes available for sale. This has led to a highly competitive seller’s market, where homes are in high demand. With just 0.92 months of inventory, buyers may find themselves facing bidding wars and tough competition when trying to secure a home.

Median Days on Market: 8 Days
Homes are selling quickly in Santa Clara. The median days on the market is just 8 days, which means well-priced homes are being snatched up almost as soon as they hit the market. Buyers need to act fast and be prepared to make competitive offers to avoid losing out on their dream home.

12-Month Change in Inventory: -5.15%
Inventory has decreased by 5.15% compared to the previous year. This continuing trend of low inventory further drives up competition among buyers and strengthens the seller’s market. Fewer homes are available, making it even harder for buyers to find their ideal property.

Sold to List Price Percentage: 109.3%
Homes in Santa Clara are selling above their asking price on average, with the sold to list price percentage at 109.3%. This reflects the high demand and competitive nature of the market. Buyers should expect to make strong, often above-asking offers in order to have their offers considered.

Median Sold Price: $1,999,999
Home values in Santa Clara remain strong, with the median sold price sitting just under $2 million. This is an indication of the premium prices being paid for properties in the area, and a testament to the continued desirability of Santa Clara as a location for homebuyers.

What Does This Mean for Buyers and Sellers?

For Sellers
Sellers in Santa Clara are in a great position in this market. With limited inventory and strong demand, now is an excellent time to list your home. Homes are selling quickly, often above asking price, so sellers can expect to secure strong offers in this competitive environment.

For Buyers
For buyers, it’s important to be prepared for a fast-paced market. Homes are selling quickly, and competition is fierce. To increase your chances of success, make sure you are pre-approved for a mortgage and ready to make strong, competitive offers. Working with a local real estate expert can also help you navigate the market and secure your dream home.

Conclusion:

The Santa Clara real estate market remains competitive, with high demand, low inventory, and rising home prices. Both buyers and sellers need to be prepared for quick action and to navigate a market where homes are selling fast, often above asking price. Whether you’re looking to buy or sell, Rise Homes is here to help you make the most informed and successful real estate decisions.