January 2025 Market Update - Joe Han

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KW Bay Area Estates

Santa Clara County

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San Mateo County

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San Francisco County

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Alameda County

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What’s your home really worth in today’s market?

That's really the question you should be asking yourself.

Our market is incredibly diverse, and rapidly changing. Values vary not just by neighborhood, but by street. Your home isn't necessarily worth what your neighbors’ home is. At the end of the day, it’s the current market that sets the value of your home.

So, do you know what your home is worth in today's market?

I can help...

Contact me for a confidential, no obligation assessment of your home's value.

IsaFixerUpperRightforYou?

Looking to buy a home but feeling like almost everything is out of reach? Here’s the thing. There’s still a way to become a homeowner, even when affordability seems like a huge roadblock – and it might be with a fixer upper. Let’s dive into why buying a fixer upper could be your ticket to homeownership and how you can make it work.

What Is a Fixer Upper?

A fixer upper is a home that’s in livable condition but needs some work. The amount of work varies by home – some may need cosmetic updates like wallpaper removal and new flooring, while others might require more extensive repairs like replacing a roof or updating plumbing.

Smart Strategies for a Mortgage Application

Avoid paying off debts or collections without professional advice.

Don't have your credit report pulled too many times - this can hurt your credit score. 3 4 5 6 1 2

Always consult your mortgage professional before making large financial moves. Use verified funds for deposits to prevent closing delays.

Santa Clara County

What's in the Santa Clara County data?

The market for Single Family Homes, Condo, and Townhomes units saw 556 closed sales at a median price of $1.5m. There was a total of 1,338 new listings with an average of 31 days on the market without price reduction and with an average price per square foot of $1,035.

January 2025

1,338

+52.4% Year-over-Year

556

Average Price Per SqFt

$1,035 New Listings

+3 9% Year-over-Year

$1.5M

Year-over-Year +4 1% Year-over-Year

Average Days-on-Market Total Volume +10.7% Year-over-Year

31 $1B

+14 7% Year-over-Year

Data includes all single family, townhome, and condominium sales in Santa Clara County sourced from MLS Listings The most recent quarter’s data is based on available numbers, but may change with late reported activity Data from sources deemed reliable but may contain errors and are subject to revision

812 New Listings

376 Closed Sales

25 Average Days-on-Market

$1.8M

Median Sale Price

$1,147

Average Price Per SqFt

$836M

Total Volume

Data includes all single family, townhome, and condominium sales in Santa Clara County sourced from MLS Listings. The most recent quarter’s data is based on available numbers, but may change with late reported activity. Data from sources deemed reliable but may contain errors and are subject to revision.

43 Average Days-on Market

$917K Median Sale Price

180 Closed Sales

$801 Average Price Per SqFt

$188M Total Volume

Luxury Listings for Sale

San Mateo County

What's in the San Mateo County data?

The market for Single Family Homes, Condo, and Townhomes units saw 204 closed sales at a median price of $1.5m. There was a total of 517 new listings with an average of 43 days on the market without price reduction and with an average price per square foot of $1,053.

January 2025

517

$1,053 New Listings

Average Price Per SqFt +25.5% Year-over-Year +3 1% Year-over-Year

204

Year-over-Year

$1.5M

1% Year-over-Year

43 $426M Average Days-on-Market Total Volume -8.5% Year-over-Year -1 0% Year-over-Year

Data includes all single family, townhome, and condominium sales in San Mateo County sourced from MLS Listings The most recent quarter’s data is based on available numbers, but may change with late reported activity Data from sources deemed reliable but may contain errors and are subject to revision

364 New Listings

155 Closed Sales

37 Average Days-on-Market

$1.8M

Median Sale Price

$1,135

Average Price Per SqFt

$378M

Total Volume

Data includes all single family, townhome, and condominium sales in San Mateo County sourced from MLS Listings. The most recent quarter’s data is based on available numbers, but may change with late reported activity. Data from sources deemed reliable but may contain errors and are subject to revision.

62 Average Days-on Market

$914K Median Sale Price

49 Closed Sales

$793 Average Price Per SqFt

$47M Total Volume

Luxury Listings for Sale

San Francisco County

What's in the San Francisco County data?

The market for Single Family Homes, Condo, and Townhomes units saw 229 closed sales at a median price of $1.2m. There was a total of 589 new listings with an average of 62 days on the market without price reduction and with an average price per square foot of $980.

January 2025

589

$980 New Listings

Average Price Per SqFt +18.0% Year-over-Year -4 1% Year-over-Year

229

$1.2M

7% Year-over-Year

62 $388M Average Days-on-Market Total Volume -3.1% Year-over-Year +17 7% Year-over-Year

Data includes all single family, townhome, and condominium sales in San Francisco County sourced from MLS Listings The most recent quarter’s data is based on available numbers, but may change with late reported activity Data from sources deemed reliable but may contain errors and are subject to revision

228 New Listings

120 Closed Sales

42 Average Days-on-Market

$1.4M

Median Sale Price

$972 Average Price Per SqFt

$250M Total Volume

Data includes all single family, townhome, and condominium sales in San Francisco County sourced from MLS Listings. The most recent quarter’s data is based on available numbers, but may change with late reported activity. Data from sources deemed reliable but may contain errors and are subject to revision.

362 New Listings

110 Closed Sales

85 Average Days-on Market

$963M Median Sale Price

$994 Average Price Per SqFt

$139M Total Volume

Luxury Listings for Sale

Alameda County

What's in the Alameda County data?

The market for Single Family Homes, Condo, and Townhomes units saw 469 closed sales at a median price of $923k. There was a total of 1,302 new listings with an average of 40 days on the market without price reduction and with an average price per square foot of $685.

January 2025

1,302

$685 New Listings Average Price Per SqFt

469

$923M

Days-on-Market

40 $527M

9% Year-over-Year

Data includes all single family, townhome, and condominium sales in Alameda County sourced from MLS Listings The most recent quarter’s data is based on available numbers, but may change with late reported activity Data from sources deemed reliable but may contain errors and are subject to revision

877 New Listings

35 Average Days-on-Market $725 Average Price Per SqFt

$1.1M

Median Sale Price 328 Closed Sales $425M Total Volume

Data includes all single family, townhome, and condominium sales in Alameda County sourced from MLS Listings. The most recent quarter’s data is based on available numbers, but may change with late reported activity. Data from sources deemed reliable but may contain errors and are subject to revision.

425 New Listings

141 Closed Sales

53 Average Days-on Market $591 Average Price Per SqFt

$680K Median Sale Price

$101M Total Volume

Luxury Listings for Sale

Dedicated to Success

Being an independently owned and operated franchise of Keller Williams, KW Bay Area Estates has the position as the Bay Area’s foremost luxury real estate services firm with the execution of best-in-class customer service. KWBAE’s unparalleled team consists of more than 250 associates and professionals strategically located in Los Gatos and Saratoga. Under the same ownership, we have our division of KW South Bay Commercial.

With uncompromising principles, KW Bay Area Estates has established a new standard of excellence within the industry. The company’s growth has been strategic and exciting. Since its inception, the team has successfully represented more than 10,000 transactions, totalling more than $13 billion in closed sales volume.

Dedicated to upholding unparalleled standards for integrity and client care, they strive to create a culture where agents thrive while developing their own businesses to their maximum potential. KW Bay Area Estates has distributed to their associates over $2.7 million in profit share.

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