Lynn North's Market Update

October 2024 Market Report

Median list price for Santa Clara County, CA is $1,899,975. Inventory has held steady at or around 884.

Santa Clara Valley

Demographics Impact on 2024 Real Estate Market

When rates start to decline, there will be an influx of buyers and sellers. Per lenders and top analysts, we are expected to get into the mid 5.5% range by the 1st quarter 2025! 

Housing demand will be fueled by the largest generation of potential homebuyers – the millennials!

Millennials:

  • US Millennials population is 72 million
  • Medial age of people moving out of their parent’s home is 26
  • Medial age of first-time home buyers is 35

The impact of Baby Boomers:

  • Largest group of all homeowners are aged 65+
  • Buyers aged 57+are more likely to downsize
  • Baby Boomers are 52% of all seniors


The average homeowner equity is about $274K

*Data provided by Buffini & Inman

CONDOS / TOWNHOMES

SAN MATEO COUNTY

79

SOLD HOMES ↓22% YOY

33

AVERAGE DAYS ON MARKET ↑32% YOY

$927,000

MEDIAN SALES PRICE ↑1% YOY

$828

PRICE PER SQUARE FOOT ↓2% YOY

SINGLE FAMILY HOMES

SAN MATEO COUNTY

275

SOLD HOMES ↓14% YOY

19

AVERAGE DAYS ON MARKET ↑1% YOY

$1,800,000

MEDIAN SALES PRICE ↑1% YOY

$1,137

PRICE PER SQUARE FOOT ↓3% YOY

CONDOS / TOWNHOMES

SANTA CLARA COUNTY

236

SOLD HOMES ↓23% YOY

21

AVERAGE DAYS ON MARKET ↑11% YOY

$970,000

MEDIAN SALES PRICE ↓2% YOY

$773

PRICE PER SQUARE FOOT ↑2% YOY

SINGLE FAMILY HOMES

SANTA CLARA COUNTY

596

SOLD HOMES ↓8% YOY

16

AVERAGE DAYS ON MARKET ↓24% YOY

$1,173,000

MEDIAN SALES PRICE ↑3% YOY

$1,095

PRICE PER SQUARE FOOT ↑6% YOY

Work With Lynn

She is personally committed to her clients’ success and her impressive results are in selling her listings within 10 days with multiple offers! Contact Lynn for a free consultation on your home.