Santa Clara County median home price surges past $1 million

Data firm CoreLogic reports the median price of a home in Santa Clara County vaulted 27.8 percent since February 2017 and broke into the seven figures, landing at $1.08 million in February.

That’s according to Irvine-based CoreLogic’s monthly report released Thursday, which showed median home prices up by double digits year over year in almost every Bay Area County—most noteworthy in Silicon Valley, with San Mateo County rising 23.1 percent since 2017 to more than $1.26 million.

Here’s how the region looks year over year in the CoreLogic figures:

• Alameda County: $761,000, +11.2 percent.
• Contra Costa County: $571,500, +12.4 percent.
• Marin County: $885,750, +8.7 percent.
• Napa County: $605,000, +9.8 percent.
• Santa Clara County: $1.08 million, +27.8 percent.
• San Mateo County: $1.26 million, +23.1 percent.
• Solano County: $410,000, +4.1 percent.
• Sonoma County: $519,000, -1.1 percent.
• Bay Area: $750,000, +12.5 percent.

On the other hand, the California Association of Realtors [CAR] lists a radically different set of median prices for February, including a Santa Clara County median that was already well over $1 million a year ago and has now leaped up to more than $1.38 million.

Photo by pbk-pg/Shutterstock

Although the CAR spreadsheet does include condo prices in a separate column, the sheet is labeled as sales and price activity for single-family homes, which explains the much higher averages. They are:

• Alameda County: $832,000, +5.9 percent.
• Contra Costa County: $610,000, +10.1 percent.
• Marin County: $1.37 million, +16.7 percent.
• Napa County: $713,500, +8.1 percent.
• Santa Clara County: $1.38 million, +27.8 percent.
• San Mateo County: $1.61 million, +25.8 percent.
• Solano County: $430,000, +12.4 percent.
• Sonoma County: $689,000, +15.1 percent.
• Bay Area: $893,690, +13.9 percent.

Notice that while CoreLogic reports home sales overall down slightly in Sonoma County, compared to the period in early 2017 before devastating wildfires swept through the region, CAR records a 15.1 percent increase in the price of single family homes in Sonoma.

Overall, a grim situation.

• February Housing Analysis [CoreLogic]
• Median House Prices [CAR]