July 2024 Market Update - Joe Han

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KW Bay Area Estates

Santa Clara County

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San Mateo County

Jump to San Mateo County Report

San Francisco County

Jump to San Francisco County Report

Alameda County

Jump to Alameda County Report

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.

WhatEveryHomeownerShould KnowAboutTheirEquity

Curious about selling your home? Understanding how much equity you have is the first step to unlocking what you can afford when you move. And since home prices rose so much over the past few years, most people have much more equity than they may realize.

Here’s a deeper look at what you need to know if you’re ready to cash in on your investment and put your equity toward your next home.

Home Equity: What Is It and How Much Do You Have?

Home equity is the difference between how much your house is worth and how much you still owe on your mortgage. For example, if your house is worth $400,000 and you only owe $200,000 on your mortgage, your equity would be $200,000.

UNLOCK YOUR DREAM HOME IN

A HIGH-RATE

MARKET

Rising interest rates have many homebuyers worried about affordability, forcing some to delay their dreams of homeownership.

Lower

S t Cl r C t

July 2024

New Listings

1,463

+36.2% Year-over-Year

Average Price Per SqFt

$1,067

+4 4% Year-over-Year

1,109

+26.2% Year-over-Year

Median Sale Price

$1.6M Closed Sales

+6 7% Year-over-Year

Average Days-on-Market

18

Total Volume 0% Year-over-Year

$2.1B

+38 3% Year-over-Year

22 Average Days-on Market

$950K Median Sale Price

306 Closed Sales

$785 Average Price Per SqFt

$320M Total Volume

Luxury Listings for Sale

San Mateo County

The market for Single Family Homes, Condo, and Townhomes units saw 415 closed sales at a median price of $1.7m. There was a total of 578 new listings with an average of 23 days on the market without price reduction and with an average price per square foot of $1,112.

July 2024

578

+22.5% Year-over-Year

Average Price Per SqFt

$1,112 New Listings

+5 9% Year-over-Year

415

$1.7M Closed Sales Median Sale Price

Year-over-Year +9% Year-over-Year

Average Days-on-Market

Total Volume 0% Year-over-Year

23 $900M

+19 2%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

408 New Listings

315 Closed Sales

21 Average Days-on-Market

$2M

Median Sale Price

$1,200

Average Price Per SqFt

$792M

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.

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 384 closed sales at a median price of $1.4m. There was a total of 429 new listings with an average of 35 days on the market without price reduction and with an average price per square foot of $1,006.

July 2024

429

+5.2% Year-over-Year

384

Average Price Per SqFt

$1,006 New Listings

+2% Year-over-Year

$1.4M

Year-over-Year +6% Year-over-Year

Average Days-on-Market Total Volume -10.3% Year-over-Year

35 $644M

+37 9% 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

203 New Listings

206 Closed Sales

21 Average Days-on-Market

$1.6M

Median Sale Price

$1,005

Average Price Per SqFt

$409M

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.

Luxury Listings for Sale

Alameda County

What's in the Alameda County data?

The market for Single Family Homes, Condo, and Townhomes units saw 975 closed sales at a median price of $1.1m. There was a total of 1,373 new listings with an average of 21 days on the market without price reduction and with an average price per square foot of $751.

July 2024

$751 New Listings

1,373

Average Price Per SqFt +20% Year-over-Year +2 3% Year-over-Year

975

$1.1M

6% Year-over-Year

Year-over-Year

21 $1.2B Average Days-on-Market

6% 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

1,005 New Listings

760 Closed Sales

19 Average Days-on-Market

$1.2M

Median Sale Price

$790 Average Price Per SqFt

$1B 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.

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.

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