Copyright by KW Advisors 2024 June 2024
Peninsula
Estates
Santa Clara County
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San Mateo County
What’syourhome reallyworthin today’smarket?
That's 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. 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?
Icanhelp...
Contact me for a confidential, no obligation assessment of your home's value.
WhatToExpectifYouBuyor SellaHomeThisJune
June is a busy month in the housing market because a lot of people buy and sell this time of year. So, if you’ve got a move on your mind and you’re looking to make it happen this month, here’s a snapshot of what you need to know to make sure you’re ready.
If You’re Buying This June
A lot of homebuyers with children like to move after one school year ends and before the next one begins. That’s one reason why late spring into summer is a popular time for homes to change hands. And whether that’s a motivator for you or not, it’s important to realize more buyers are going to be looking right now – and that means you’ll want to be ready for a bit more competition. But there is a silver lining to a move this time of year. This is also when more sellers will list – so you should find you have more options. As an article from Bankrate says:
“Late spring and early summer are the busiest and most competitive time of year for the real estate market. There’s usually more inventory listed for sale than other times of year . . . This is a double-edged sword for a buyer, as you will be met with more opportunities but [also] much more competition.”
SantaClara County
What's in the Santa Clara County data?
There were 861 single-family homes for sale, providing 1.3 months of inventory. There were 1,206 new listings, and 899 homes sold at a median price of $2.1m. The median overbid percentage was at 107 9%, with an average of 14 days on the market.
There were 507 condo and townhome units for sale, providing 1.8 months of inventory. There were 571 new listings and 397 units sold at a median sale price of $1m. The median overbid percentage was at 103%, with an average of 15 days on the market
Single-Family Homes
1,206 New Listings
899 Sold Listings
1.3 Months of Inventory
$2.1M
Median Sale Price
107.9%
Median Sale vs List
14 Avg Days on Market
The data, sourced from InfoSparks and Trend Graphix, includes all single-family homes, condos and townhomes in the California Area above from May 2023 to May 2024. This may include preliminary data, and may vary from the time the data was gathered. All data is deemed reliable but not guaranteed. DRE# 01511642. Copyright KW Advisors Palo Alto 2024. Each office is independently owned and operated.
SFH
571
New Listings
397
Sold Listings
1.8
Months of Inventory
$1M
Median Sale Price 103%
Median Sale vs List 15 Avg Days on Market
CONDO
Condo & Townhomes
SantaClaraCounty
MAY 2023 - MAY 2024
Single-Family Homes
Last 12 months, year-over-year.
Condos & Townhomes
Last 12 months, year-over-year
May2023 Jun2023 Jul2023 Aug2023 Sep2023 Oct2023 Nov2023 Dec2023 Jan2024 Feb2024 Mar2024 Apr2024 May2024 0 200 400 600 800 1000 May2023 Jun2023 Jul2023 Aug2023 Sep2023 Oct2023 Nov2023 Dec2023 Jan2024 Feb2024 Mar2024 Apr2024 May2024 0 100 200 300 400 500 600 LISTINGS FOR SALE SOLD LISTINGS
Median SalesPrice
Single-Family Homes
The median sale price has increased from $1 7m last May 2023, to $2 1m as of May 2024
Condos & Townhomes
The median sale price has increased from $955k last May 2023, to $1m as of May 2024
AVGDays OntheMarket
Single-Family Homes
The average time spent on the market went down from 18 days last May 2023, to 14 days as of May 2024
Condos & Townhomes
The average time spent on the market went down from 21 days in May 2023, to 15 days as of May 2024.
Overbids
Single-Family Homes
The overbid percentage has increased from 103 6% last May 2023, to 107 9% a year later
Condos & Townhomes
The overbid percentage has increased from 101.4% last May 2023, to 103% a year later.
Back to Table of Contents May2023 Jun2023 Jul2023Aug2023Sep2023Oct2023Nov2023Dec2023 Jan2024Feb2024Mar2024Apr2024May2024 $0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 May2023 Jun2023 Jul2023Aug2023Sep2023 Oct2023Nov2023Dec2023 Jan2024 Feb2024Mar2024 Apr2024May2024 0 10 20 30 40 May2023 Jun2023 Jul2023Aug2023Sep2023 Oct2023Nov2023Dec2023 Jan2024 Feb2024Mar2024Apr2024May2024 000% 2000% 4000% 6000% 8000% 10000% 12000%
1430 Howard Avenue, Burlingame, CA 94010 KellerWilliamsPeninsulaEstates Martin Santiago Broker Associate DRE #01930626 (415) 850-7704 brokermartinsantiago@gmail.com www.brokermartinsantiago.com TOP 10% in San Mateo County per MLS Sales Report