Joseph Karakas - September 2024 Market Update

Page 1


KW Bay Area Estates

LosGatos/MonteSereno

Jump to Los Gatos/Monte Sereno Report

Jump to Cambrian (San Jose) Report Cambrian(SanJose)

Jump to Saratoga Report Saratoga

Jump to Santa Clara County Report SantaClaraCounty

Jump to Almaden Valley (San Jose) Report Almaden Valley (San Jose)

Jump to Blossom Valley (San Jose) Report BlossomValley(SanJose)

Jump to Campbell Report Campbell

Jump to Cupertino Report Cupertino

Jump to Los Altos Report LosAltos

Jump to Santa Teresa (San Jose) Report Santa Teresa (San Jose)

Jump to Santa Clara City Report SantaClaraCity

Jump to South San Jose Report SouthSanJose

Jump to Sunnyvale Report Sunnyvale

Jump to Willow Glen (San Jose) Report WillowGlen(SanJose)

ThisIstheSweetSpotHomebuyers HaveBeenWaitingFor

After months of sitting on the sidelines, many homebuyers who were priced out by high mortgage rates and affordability challenges finally have an opportunity to make their move. With rates trending down, today’s market is a sweet spot for buyers—and it’s one that may not last long.

So, if you’ve put your own move on the back burner, here’s why maybe you shouldn’t delay your plans any longer.

As you weigh your options and decide if you should buy now or wait, ask yourself this: What do you think everyone else is going to do?

Los Gatos/Monte Ser

What's in the Los

The market for Single Family Homes, Condo, and Townhomes units saw 37 closed sales at a median price of $2.7m. There was a total of 71 new listings with an average of 45 days on the market without price reduction and with an average price per square foot of $1366.

Gatos/Monte Sereno data?

September 2024

+36.5% Year-over-Year

Average Price Per SqFt

$1,366

+10 2% Year-over-Year 37

$2.7M Median Sale Price +8.8% Year-over-Year +7 8% Year-over-Year

45 $106.6M Total Volume +164.7% Year-over-Year

+15 1% Year-over-Year

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings The most recent month’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 New Listings Closed Sales Average Days-on-Market

$93.1M Total Volume

18 New Listings

15 Average Days-on Market

$1.6M Median Sale Price

9 Closed Sales

$963 Average Price Per SqFt

$13.4M Total Volume

Luxury Listings for Sale

BY MONTH, YEAR-OVER-YEAR

Cambrian (San Jose)

What's in the Cambrian (San Jose) data?

The market for Single Family Homes, Condo, and Townhomes units saw 40 closed sales at a median price of $1.6m. There was a total of 55 new listings with an average of 16 days on the market without price reduction and with an average price per square foot of $1,158.

16

Days-on-Market

$69.4M Total Volume +33.3% Year-over-Year -10 6% Year-over-Year

ed from MLS Listings The most recent month’s data is s deemed reliable but may contain errors and are

49 New Listings

37 Closed Sales

15 Average Days-on-Market $1,185

Average Price Per SqFt $1.6M

Median Sale Price

$66.8M

Total Volume

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings. The most recent month’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.

6 New Listings

29 Average Days-on Market

$995K Median Sale Price

3 Closed Sales

$822 Average Price Per SqFt

$2.6M Total Volume

Saratoga

What's

in the Saratoga data?

The market for Single Family Homes, Condo, and Townhomes units saw 24 closed sales at a median price of $3.8m. There was a total of 35 new listings with an average of 18 days on the market without price reduction and with an average price per square foot of $1,550.

35

2024

24

+29.6% Year-over-Year +2 7%% Year-over-Year

$1,550 Average Price Per SqFt

$3.8M Median Sale Price +26.3% Year-over-Year -3 1% Year-over-Year

18 $99M Total Volume +12.5% Year-over-Year +20 4% Year-over-Year

17 Average Days-on-Market $1,645 Average Price Per SqFt $4.2M Median Sale Price 20 Closed Sales

$91.3M

Total Volume

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings. The most recent month’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.

Condo & Townhomes

6 New Listings

4 Closed Sales

24 Average Days-on Market

$1.8M Median Sale Price

$1,075 Average Price Per SqFt

$7.7M Total Volume

Luxury Listings for Sale

Santa Clara County

What's in the Santa Clara County data?

The market for Single Family Homes, Condo, and Townhomes units saw 915 closed sales at a median price of $1.5m. There was a total of 1,581 new listings with an average of 24 days on the market without price reduction and with an average price per square foot of $1,068.

September 2024

1,581

+32.3% Year-over-Year

Average Price Per SqFt

$1,068

+4 4% Year-over-Year

915

$1.5M Median Sale Price +5.1% Year-over-Year +1 9% Year-over-Year

24 $1.7B Total Volume +26.3% Year-over-Year +9% Year-over-Year

Single Family Homes

1,076

New Listings

21 Average Days-on-Market

635

Closed Sales

$1,183

Average Price Per SqFt $1.9M

Median Sale Price

$1.4B

Total Volume

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings. The most recent month’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.

28 Average Days-on Market

$1M Median Sale Price

280 Closed Sales

$809 Average Price Per SqFt

$307.1M Total Volume

Luxury Listings for Sale

Almaden Valley (San

What's in the Almaden Valley (San Jose) data?

The market for Single Family Homes, Condo, and Townhomes units saw 30 closed sales at a median price of $2.2m. There was a total of 39 new listings with an average of 23 days on the market without price reduction and with an average price per square foot of $1,016.

23 $71.2M

Volume +64.3% Year-over-Year +55 4% Year-over-Year

ed from MLS Listings The most recent month’s data is s deemed reliable but may contain errors and are

Condo & Townhomes

4 New Listings

6 Average Days-on Market

$1.4M Median Sale Price

2 Closed Sales

$986 Average Price Per SqFt

$2.9M Total Volume

Blossom Valley (San

What's in the Blossom Valley (San Jose) data?

The market for Single Family Homes, Condo, and Townhomes units saw 59 closed sales at a median price of $1.3m. There was a total of 90 new listings with an average of 20 days on the market without price reduction and with an average price per square foot of $847.

r

20

+150% Year-over-Year

Total Volume

$74.5M Average Days-on-Market

+32 3% Year-over-Year

sourced from MLS Listings The most recent month’s m sources deemed reliable but may contain errors and

31 Average Days-on Market

$689K Median Sale Price

16 Closed Sales $11.3M Total Volume

$660 Average Price Per SqFt

Luxury Listings for Sale

BY MONTH, YEAR-OVER-YEAR

(+$3,000,000 & Above)

Current Year

Previous Year

Luxury Contracts Signed

BY MONTH, YEAR-OVER-YEAR

(+$3,000,000 & Above)

Current Year

Previous Year

Nodatatodispla
Nodatatodispla

Campbell

What's in the Campbell data?

The market for Single Family Homes, Condo, and Townhomes units saw 28 closed sales at a median price of $1.7m. There was a total of 44 new listings with an average of 16 days on the market without price reduction and with an average price per square foot of $1,077.

r

ed from MLS Listings The most recent month’s data is s deemed reliable but may contain errors and are New Listings Closed Sales Average Days-on-Market

16

$50.9M Total Volume -23.8% Year-over-Year +24 4% Year-over-Year

Listings

10 Average Days-on-Market

18 Closed Sales

$1,228

Average Price Per SqFt $2.1M

Median Sale Price

$40.8M

Total Volume

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings. The most recent month’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.

18 New Listings

25 Average Days-on Market

$1M Median Sale Price

10 Closed Sales

$804 Average Price Per SqFt

$10M Total Volume

Cupertino

What's

in the Cupertino data?

The market for Single Family Homes, Condo, and Townhomes units saw 28 closed sales at a median price of $2.4m. There was a total of 37 new listings with an average of 15 days on the market without price reduction and with an average price per square foot of $1,499.

15

$71.9M Total Volume +36.4% Year-over-Year -11 6% Year-over-Year

ed from MLS Listings The most recent month’s data is s deemed reliable but may contain errors and are

25 New Listings

17 Average Days-on-Market

$2.7M

Median Sale Price

20 Closed Sales

$1,627

Average Price Per SqFt

$59.7M

Total Volume

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings. The most recent month’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.

11 Average Days-on Market

$1.5M Median Sale Price

8 Closed Sales

$1,180 Average Price Per SqFt

$12.1M Total Volume

Luxury Listings for Sale

BY MONTH, YEAR-OVER-YEAR

Los Altos

What's in the Los Altos data?

The market for Single Family Homes, Condo, and Townhomes units saw 23 closed sales at a median price of $4.5m. There was a total of 47 new listings with an average of 32 days on the market without price reduction and with an average price per square foot of $1,830.

ed from MLS Listings The most recent month’s data is s deemed reliable but may contain errors and are New Listings Closed Sales Average Days-on-Market

32

Total Volume +10.3% Year-over-Year -1 8% Year-over-Year

$101.3M

33 Average Days-on-Market $1,912 Average Price Per SqFt $4.6M Median Sale Price 17

$85.8M

Total Volume

Data

Listings.

28 Average Days-on Market

$2.3M Median Sale Price

6 Closed Sales

$1,598 Average Price Per SqFt

$15.4M Total Volume

Santa Teresa (San Jo

What's in the Santa Teresa (San Jose) data?

The market for Single Family Homes, Condo, and Townhomes units saw 22 closed sales at a median price of $1.3m. There was a total of 48 new listings with an average of 20 days on the market without price reduction and with an average price per square foot of $809.

ar

ed from MLS Listings The most recent month’s data is s deemed reliable but may contain errors and are New Listings Closed Sales Average Days-on-Market

20 $29.4M Total Volume +122.2% Year-over-Year +153 5% Year-over-Year

Sales

SqFt

$20.1M Total Volume

39 Average Days-on Market

$1.2M Median Sale Price

8 Closed Sales

$656 Average Price Per SqFt

$9.3M Total Volume

Luxury Listings for Sale

Nodatatodispla

Santa Clara City

What's in the Santa Clara City data?

The market for Single Family Homes, Condo, and Townhomes units saw 56 closed sales at a median price of $1.7m. There was a total of 95 new listings with an average of 15 days on the market without price reduction and with an average price per square foot of $1,124.

r r

15

+7.1% Year-over-Year

Total Volume

$95.6M Average Days-on-Market

+46 2% Year-over-Year

ed from MLS Listings The most recent month’s data is s deemed reliable but may contain errors and are

12 Average Days-on-Market $1,302 Average Price Per SqFt $1.9M

$68.1M

Total Volume

Median Sale Price 34 Closed Sales

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings. The most recent month’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.

Condo & Townhomes

42 New Listings

21 Average Days-on Market

$1.3M Median Sale Price

22 Closed Sales

$848 Average Price Per SqFt

$27.5M Total Volume

Luxury Listings for Sale

South San Jose

What's in the South San Jose data?

The market for Single Family Homes, Condo, and Townhomes units saw 35 closed sales at a median price of $1m. There was a total of 55 new listings with an average of 22 days on the market without price reduction and with an average price per square foot of $743.

r

22

+29.4% Year-over-Year

Total Volume

$36M Average Days-on-Market

+56 8% Year-over-Year

ed from MLS Listings The most recent month’s data is s deemed reliable but may contain errors and are

Sales

$17.6M Total Volume

24 Average Days-on Market

$720K Median Sale Price

21 Closed Sales

$659 Average Price Per SqFt

$18.3M Total Volume

Luxury Listings for Sale

Nodatatodispla

Sunnyvale

What's in the Sunnyvale data?

The market for Single Family Homes, Condo, and Townhomes units saw 51 closed sales at a median price of $1.8m. There was a total of 95 new listings with an average of 14 days on the market without price reduction and with an average price per square foot of $1,362.

Average Days-on-Market

14

Total Volume -12.5% Year-over-Year

$107.6M

-15 7% Year-over-Year

ed from MLS Listings The most recent month’s data is s deemed reliable but may contain errors and are

Listings

12 Average Days-on-Market

$2.5M

Median Sale Price

32 Closed Sales

$1,622

Average Price Per SqFt

$80.7M

Total Volume

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings. The most recent month’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.

40 New Listings

18 Average Days-on Market

$1.5M Median Sale Price

19 Closed Sales

$925 Average Price Per SqFt

$26.9M Total Volume

Willow Glen (San Jos

What's in the Willow Glen (San Jose) data?

The market for Single Family Homes, Condo, and Townhomes units saw 51 closed sales at a median price of $1.8m. There was a total of 82 new listings with an average of 24 days on the market without price reduction and with an average price per square foot of $1,064.

September 2024

82

+39% Year-over-Year

Average Price Per SqFt

$1,064 New Listings

+7 4% Year-over-Year

51

$1.8M Closed Sales Median Sale Price -8.9% Year-over-Year -2 2% Year-over-Year

Average Days-on-Market

24

Total Volume +9.1% Year-over-Year -19 3% Year-over-Year

$94.3M

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings The most recent month’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

71 New Listings

23 Average Days-on-Market

$2M

Median Sale Price

40 Closed Sales

$1,149

Average Price Per SqFt

$82.8M

Total Volume

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings. The most recent month’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.

27 Average Days-on Market

$1M Median Sale Price

11 Closed Sales

$754 Average Price Per SqFt

$11.5M Total Volume

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 9,000 transactions, totaling more than $12 billion in total sales.

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 given their agents over $2.6 million in profit share.

Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.