The real estate market continues to show a mix of stability and subtle slowdown—while competition remains in certain segments, buyers are finding more room to negotiate. Here’s how Santa Clara, Santa Cruz, and Monterey counties are performing this October:

Price Trends Reveal a Mixed Bag

• Santa Clara: Single-family home prices increased to $1.96M (up from $1.90M last year). Condos and townhomes dipped slightly to $950K (down from $1.00M).
• Santa Cruz: Single-family homes softened to $1.22M (down from $1.28M), while condos and townhomes declined to $815K (down from $868K).
• Monterey: Single-family homes settled at $940K (down from $998K), and condos and townhomes at $795K (down from $858K).

Homes Are Sitting Longer – Except in Hot Zones

• Santa Clara: Single-family homes are averaging 25 days on market, while condos and townhomes take 38 days.
• Santa Cruz: Single-family homes average 47 days, with condos and townhomes close behind at 50 days.
• Monterey: Single-family homes are moving in about 47 days, and condos and townhomes in 48 days—a slower, more balanced pace.

Overbidding Is Tapering – But Still Present

• Santa Clara: Single-family homes are selling at 103.2% of list price, and condos/townhomes at 100.6%.
• Santa Cruz: Both single-family and condo/townhome sales are closing at 98.5% of list price, showing a mild cooling trend.
• Monterey: Sellers are receiving 98.1% of list for single-family homes and 97.9% for condos and townhomes.

What This Means for You

Sellers:

• Santa Clara: Single-family demand remains strong—homes selling above list at 103.2%. Smart pricing and standout presentation are key.
• Santa Cruz: Sellers should expect slower movement and more price-sensitive buyers; strategic marketing will make a difference.
• Monterey: Homes are taking longer to sell but move-in-ready listings continue to attract solid offers close to asking.

Buyers:

• More leverage is appearing across Santa Cruz and Monterey—47–50 DOM gives you time to shop and negotiate.
• Santa Clara still moves quickly—come prepared with pre-approval and strong offers to stay competitive.
• Overbidding has eased, but well-priced homes can still draw multiple offers.