How long does it take to sell a Silicon Valley home in today’s market? As always, it depends on how you slice and dice it! “Silicon Valley” is not a super tightly defined area, but roughly includes most of Santa Clara and San Mateo counties, with a smattering of Alameda, Santa Cruz, and even San Francisco counties to boot. Since the vast majority of it is in 2 counties, let’s have a look at them first.
The charts below were created from MLSListings.com, the real estate agent supported multiple listing service for our region.
(1) Single Family homes in San Mateo County and Santa Clara County – the days to sell is at a very low figure of 25!
(2) Condominiums and townhouses in San Mateo County and Santa Clara County – the days to sell also sitting at 25, though the pattern has been a little different from single family homes.
The very broad, 2 county view looks amazing with the sale pending properties popping at an average of 25 days on the market. What happens if we narrow it to San Jose, the largest city in Santa Clara County, which has about 60% of the county’s homes? (more…)