Santa Clara Market Snapshot
The number of homes that sold in the San Jose metro area during 2018 was 7% below a year earlier. This translates to 1,400 fewer homes that sold across the region this year.
As sales volume has slowed, the inventory of homes available for sale has grown. At the end of 2018, 1,900 homes were for sale across San Jose, more than double the 900 homes for sale a year earlier, when inventory was near an historic low. While higher than 2017, today’s inventory is still low in comparison with historic standards.
The average price-to-list ratio is currently 97% in San Jose, well below a year earlier when homes were selling at an average 107% price-to-list ratio.

Interest rates have decreased in recent months, averaging 4.29% for a 30-year fixed rate mortgage (FRM) in March 2019. This average rate is about level with this time last year, a positive change for homebuyers, as FRM rates peaked in late-2018 and have since fallen back.

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