Sold prices, asking prices, and contract activity are not saying the same thing, and that matters.
If you are trying to judge where values are really landing, I would put more weight on completed sales than on hopeful asking prices alone. In Santa Clara, CA, the typical sold price was $1,830,000 last month, while active homes carried a typical asking price of $1,402,000.
Newly pending homes were entering contract around a typical asking price of $1,599,950, and homes already pending sat at a typical asking price of $1,624,497. In Santa Clara, CA, that spread tells me the market is separating ordinary listings from the homes that actually win a contract, which is useful context for commercial investors evaluating entry points and resale assumptions. The key implication is discipline. When closed prices, active asking prices, and pending asking prices sit in different places, I do not treat any single number as the whole story, because the wrong benchmark can push a property decision too high or make an asset look cheaper than it really is. Underwrite from recent closed pricing first. Use pending and active pricing to test how competitive a target really is. Stress-test your acquisition plan against the current contract range before you move ahead. For owners considering a sale, this same spread is a reminder that list price alone does not guarantee where the market will accept a property.
About Donald Maycott
Donald Maycott is a licensed Real Estate Professional affiliated with EXP Realty LLC, specializing in the Santa Clara market. With a focus on strategic marketing and deep local knowledge, Donald Maycott provides clients with expert guidance in navigating complex real estate transactions. View full profile →
