Market Report for the Palo Alto Bay area November 2022.
Copyright by KW Advisors 2022
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What’syourhome reallyworthin today’smarket?
That's really the question you should be asking yourself
Our market is incredibly diverse, and it's changing rapidly Values vary not just by neighborhood, but by street Your home isn't necessarily worth what your neighbors is At the end of the day, the current market sets the value of your home
So, do you know what your home is worth in today's market?
Contact me for a confidential, no obligation assessment of your home's value.
Icanhelp...
SellYourHouseBefore theHolidays
As you look ahead to the winter season, you’re likely making plans and thinking about what you want to achieve before the year ends One of those key decision points could be whether or not you want to move this year. If the location or size of your current home no longer meets your needs, finding a house that better suits your lifestyle may be a top priority for you. But with today’s cooling housing market, is it really a good time to sell your house, or should you wait?
If you’re ready to make your decision, here are three reasons you may want to consider selling before the holidays
Number Not What It Seems
The Fed hiked its benchmark Fed Funds Rate by an aggressive 75 basis points at its
last Wednesday, marking its sixth rate hike of the year and fourth
75% increase
Markets The Bureau of Labor Statistics (BLS) reported that there were 261,000 jobs created in October
Jobs
The ADP Employment Report, which measures private sector payrolls, showed that there were 239,000 jobs created in October Private Sector Payrolls Beat Expectations, But Hiring "Not Broad Based"
MonthlyEconomicReport October 31, 2022 Even though the Fed hiked rates as expected, the markets were volatile after comments from Fed Chair Jerome Powell Week of October 31, 2022 in Review
meeting
consecutive 0
Fed Hikes Rates as Expected, Yet Press Conference Roils
Headline
CoreLogic released their Home Price Index report for September, showing that home prices declined by 0 5% from August but they were 11 4% higher when compared to September of last year
Price Forecasts
Meaningful
The economic calendar is relatively quiet but investors will be closely watching inflation data for October when the Consumer Price Index is reported on Thursday What to Look for This Week If you have any questions, contact me anytime! I can help your clients explore the best mortgage options for either a purchase or refinance. Jen Marshall NMLS# 308644 Office: (415) 464 6618 Cell: (415) 205 3771 Email: jenmarshall@loandepot com Website: www loandepot com Loan Consultant 700 Larkspur Landing Cir Ste 210 Larkspur, CA 94939 1733 The number of people filing for unemployment benefits for the first time fell by 1,000 in the latest week, as there were 217,000 Initial Jobless Claims reported Continuing Jobless Claims Continue to Rise
Home
Still
for Wealth Creation
PaloAlto
What's in the Palo Alto data?
In Palo Alto, the median sold price for single-family homes in October increased month-over-month to $3.5 million. The number of homes sold decreased to 20, and the number of new listings also decreased to 34. The number of condo & townhome sales increased to $1.8 million month-over-month with 4 units sold and 14 new listings. Buyers are still being aggressive with their offer prices, with the median offer price continus to be about 100%.
Only about 6% of all homes for sale were actually completed, due to supply constraints adding to the scarcity of home supply. Meanwhile, the demand continues to rise, leading to a rise in sales prices, creating an imbalance between supply and demand.
34 New Listings 2.5 Months of Inventory $3.5M Median Sale Price 98.1% Median Sale vs List 28 20 Sold Listings SFH Single Family Homes Avg Days on Market The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from October 2021 to October 2022. This may include preliminary data, and vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. 415.483.9285 Palo
Copyright KW Advisors 2022. Each Office
independently owned and operated.
Alto DRE# 01511642
is
14 New Listings 2.1 Months of Inventory $1.8M Median Sale Price 106.3% Median Sale vs List 47 Avg Days on Market 4 Sold Listings CONDO Condo & Townhomes
December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022September2022October2022 cember2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022September2022October2022 oAlto OCTOBER 2021 - OCTOBER 2022 S FOR SALE VS SOLD LISTINGS mily Homes onths, year over year. Townhomes onths, year over year
Single Family Homes
The median sales price has increased from $3 4m last year's October to $3 5m this year
Condos & Townhomes
The median sales price has increased from $1 5m last October 2021 to $1 8m by October 2022.
AVGDays OntheMarket
Single Family Homes
The average days on market has increased from 22 days of the same month last year, to 28 days this year.
Condos & Townhomes
The average days on market has gone down from last year's October with 52 days, to 47 days this year
Overbids
Single Family Homes
The overbid percentage has decreased from 109% last year's October, to 98.1% this year.
Condos & Townhomes
The overbid percentage increased from 105 9% of October 2021, to 106 3% a year later
November2021December2021January2022February2022March2022April2022May2022June2022July2022August2022September2022October2022
October2021
October2021November2021December2021January2022February2022March2022April2022May2022June2022 July2022August2022September2022October2022 75 50 25 0 October2021November2021December2021January2022February2022March2022April2022May2022June2022 July2022August2022September2022October2022 125% 100% 75% 50% 25% 0%
$5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0
Median SalesPrice
Redwood City
What's in the Redwood City data?
In Redwood City, the median sold price for single-family homes in October slightly increased month-over-month to $2.005 million. The number of homes sold decreased to 43, and the number of new listings increased to 43. The number of condo & townhome sales decreased month-over-month to $831 thousand with 6 units sold and 6 new listings. Buyers are still being aggressive with their offer prices, with the median offer price continus to be about 100%. Only about 6% of all homes for sale were actually completed, due to supply constraints adding to the scarcity of home supply. Meanwhile, the demand continues to rise, leading to a rise in sales prices, creating an imbalance between supply and demand.
Avg Days on Market
The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from October 2021 to October 2022. This may include preliminary data, and vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. 415.483.9285 Palo Alto DRE# 01511642 Copyright KW Advisors 2022. Each Office is independently
$2M Median Sale Price 44 43 Sold Listings Homes
6 1.4 Months of Inventory $831K Median Sale Price 98.7% Median Sale vs List 46 Avg Days on Market 6 New Listings Sold Listings CONDO Condo & Townhomes
ber2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022September2022October2022 ber2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022September2022October2022 RedwoodCity OCTOBER 2021 - OCTOBER 2022 STINGS FOR SALE VS SOLD LISTINGS gle Family Homes st 12 months, year over year. ndos & Townhomes st 12 months, year over year
The median sales price has slightly increased from $2 000m last year's October to $2 005m this year
Condos & Townhomes
The median sales price has slightly decreased from $1.2m last October 2021 to $831k by October 2022.
AVGDays OntheMarket
Single Family Homes
The average days on market has no changes from 14 days of the same month last year, to 14 days this year.
Condos & Townhomes
The average days on market has gone up from last year's October with 18 days, to 46 days this year
Overbids
Single Family Homes
The overbid percentage has decreased from 105% last year's October, to 96.9% this year.
Condos & Townhomes
The overbid percentage has decreased from 107 3% of October 2021, to 98 7% a year later
October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022August2022September2022October2022
$0 October2021November2021December2021January2022February2022March2022April2022May2022June2022 July2022August2022September2022October2022 50 40 30 20 10 0 October2021November2021December2021January2022February2022March2022April2022May2022June2022 July2022August2022September2022October2022 125% 100% 75% 50% 25% 0%
$3,000,000 $2,000,000 $1,000,000
Homes
Median SalesPrice Single Family
Portola Valley
What's in the Portola Valley data?
In Portola Valley, the median sold price for single-family homes in October increased month-over-month to $4.2 million. The number of homes sold decreased to 9 and the number of new listings decreased to 4. Buyers are still being aggressive with their offer prices, with the median offer price continus to be about 100%. Only about 6% of all homes for sale were actually completed, due to supply constraints adding to the scarcity of home supply.
Meanwhile, the demand continues to rise, leading to a rise in sales prices, creating an imbalance between supply and demand.
4 New Listings 1.9 Months of Inventory $4.2M Median Sale Price 93.3% Median Sale vs List 19 9 Sold Listings SFH Single Family Homes
Days on Market
The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from October 2021 to October 2022. This may include preliminary data, and vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. 415.483.9285 Palo Alto DRE# 01511642 Copyright KW Advisors 2022. Each Office is independently owned and operated. Avg
0 New Listings 0 Months of Inventory $0 Median Sale Price 0% Median Sale vs List 0 Avg Days on Market 0 Sold Listings CONDO Condo & Townhomes
022February2022 March2022 April2022 May2022 June2022 July2022August2022September2022October2022 2February2022 March2022 April2022 May2022 June2022 July2022August2022September2022October2022 olaValley OCTOBER 2021 - OCTOBER 2022 SALE VS SOLD LISTINGS mes ear over year. omes year over year
Single Family Homes
The median sales increased from $2 8m of last year's October, to $4 2m this year
Condos & Townhomes
The median sales price record same from last year's October having $0m to $0m this year
AVGDays OntheMarket
Single Family Homes
The average days on market has decreased from 26 days last year's October, to 19 days a year later.
Condos & Townhomes
The average days on market is almost the same from October last year's 0 days to 0 days this year
Overbids
Single Family Homes
The overbid percentage has decreased from 110.4% of last year's October, to 93.3% this year.
Condos & Townhomes
The overbid percentage is same from last year's October of 0% to this year's 0%
November2021December2021January2022
November2021December2021January2022February2022March2022April2022May2022June2022July2022August2022September2022
75 50 25 0 October2021November2021December2021January2022February2022March2022April2022May2022June2022 July2022August2022September2022October2022 125% 100% 75% 50% 25% 0%
SalesPrice
October2021
February2022March2022April2022May2022June2022July2022August2022September2022October2022 $7,500,000 $5,000,000 $2,500,000 $0 October2021
October2022
Median
Menlo Park
What's in the Menlo Park data?
In Menlo Park, the median sold price for single-family homes in October slightly decreased month-over-month to $3.2 million. The number of homes sold decreased to 20, and the number of new listings decreased to 25. The number of condo and townhome sales increased month-over-month to $1.3 million, with 4 units sold and 3 new listings. Buyers are still being aggressive with their offer prices, with the median offer price continus to be about 100%. Only about 6% of all homes for sale were actually completed, due to supply constraints adding to the scarcity of home supply. Meanwhile, the demand continues to rise, leading to a rise in sales prices, creating an imbalance between supply and demand.
The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from October 2021 to October 2022. This may include preliminary data, and vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. 415.483.9285 Palo Alto DRE# 01511642 Copyright KW Advisors 2022. Each Office is independently
dian Sale Price 4 0 d Listings
3.2M
mes
g Days
Market
on
3 New Listings 13 Months of Inventory $1.3M Median Sale Price 102.6% Median Sale vs List 16 Avg Days on Market 4 Sold Listings CONDO Condo & Townhomes
February2022 March2022 April2022 May2022 June2022 July2022August2022September2022October2022 February2022 March2022 April2022 May2022 June2022 July2022August2022September2022October2022 oPark OCTOBER 2021 - OCTOBER 2022 SALE VS SOLD LISTINGS mes ear over year. omes year over year
Median SalesPrice
Single Family Homes
The median sales price has decreased from $3 5m last year's October to $3 2m this year
Condos & Townhomes
The median sales price has decreased from $1.6m last October 2021 to $1.3m a year later.
AVGDays OntheMarket
Single Family Homes
The average days on the market has increased from 19 days of October 2021 to 24 days this October 2022.
Condos & Townhomes
The average days on the market has decreased from 32 days of October 2021 to 16 days this October 2022
Overbids
Single Family Homes
The overbid percentage has decreased from 102.9% record last year's October, to 99.4% this year.
Condos & Townhomes
The overbid percentage has increased from 99 3% last year's October, to 102 6% this year
December2021
October2021November2021
January2022February2022March2022April2022May2022June2022July2022August2022September2022October2022
40 30 20 10 0 October2021November2021December2021January2022February2022March2022April2022May2022June2022
August2022September2022October2022 125% 100% 75% 50% 25% 0%
$5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0 October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022August2022September2022October2022
July2022
Atherton
What's in the Atherton data?
In Atherton, the median sold price for single-family homes in October decreased month-over-month to $6.6 million. The number of homes sold decreased to 6, and the number of new listings increased to 11. The number of condo & townhome sales decreased month-over-month to $0 with 0 unit sold and 1 new listing. Buyers are still being aggressive with their offer prices, with the median offer price continus to be about 100%. Only about 6% of all homes for sale were actually completed, due to supply constraints adding to the scarcity of home supply. Meanwhile, the demand continues to rise, leading to a rise in sales prices, creating an imbalance between supply and demand.
The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from October 2021 to October 2022. This may include preliminary data, and vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. 415.483.9285 Palo Alto DRE# 01511642 Copyright KW Advisors 2022. Each Office is independently
Sale
48
$6.6M Median
Price
6 Sold Listings omes
Days
Market
Avg
on
1 New Listings 0 Months of Inventory $0 Median Sale Price 0% Median Sale vs List 0 Avg Days on Market 0 Sold Listings CONDO Condo & Townhomes
ctober2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022September2022October2022 ober2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022September2022October2022
OCTOBER 2021 - OCTOBER 2022 STINGS FOR SALE VS SOLD LISTINGS ngle Family Homes ast 12 months,
year. ondos & Townhomes ast 12 months, year
year
Atherton
year over
over
Median SalesPrice
Single Family Homes
The median sales price decreased from $7 9m in October 2021 to $6 6m in October 2022
Condos & Townhomes
The median sales price decreased from $0 in October 2021 and $0 in October 2022
AVGDays OntheMarket
Single Family Homes
The average days on market increased from 32 days last October 2021 to 48 days by October 2022.
Condos & Townhomes
The average days on market stays at 0 days for October 2021 and October 2022
Overbids
Single Family Homes
The overbid percentage decreased from 101.9% last October 2021 to 90.8% a year later.
Condos & Townhomes
The overbid percentage stays at 0% for October 2021 and October 2021
November2021December2021January2022
September2022October2022
November2021December2021January2022February2022March2022April2022May2022June2022July2022August2022September2022
125 100 75 50 25 0 October2021November2021December2021January2022February2022March2022April2022May2022June2022 July2022August2022September2022October2022 125% 100% 75% 50% 25% 0%
October2021
February2022March2022April2022May2022June2022July2022August2022
$20,000,000 $15,000,000 $10,000,000 $5,000,000 $0 October2021
October2022
LosAltos
What's in the Los Altos data?
In Los Altos, the median sold price for single-family homes in October decreased month-over-month to $4.1 million. The number of homes sold decreased to 23, and the number of new listings decreased to 15. The number of condo & townhome sales increased month-over-month to $1.9 million with 2 units sold and 3 new listings. Buyers are still being aggressive with their offer prices, with the median offer price continus to be about 100%. Only about 6% of all homes for sale were actually completed, due to supply constraints adding to the scarcity of home supply. Meanwhile, the demand continues to rise, leading to a rise in sales prices, creating an imbalance between supply and demand.
The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from October 2021 to October 2022. This may include preliminary data, and vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. 415.483.9285 Palo Alto DRE# 01511642 Copyright KW Advisors 2022. Each Office is independently owned and operated.
15 New Listings 1.7 Months of Inventory $4.1M Median Sale Price 100% Median Sale vs List 23 23 Sold Listings SFH Single Family Homes
Avg Days on Market
3 New Listings 2.7 Months of Inventory $1.9M Median Sale Price 100% Median Sale vs List 67 Avg Days on Market 2 Sold Listings CONDO Condo & Townhomes
October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022September2022October2022 125 100 75 50 25 0 October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022September2022October2022 25 20 15 10 5 0 LosAltos OCTOBER 2021 - OCTOBER 2022 LISTINGS FOR SALE VS SOLD LISTINGS Single Family Homes Last 12 months, year over year. Condos & Townhomes Last 12 months, year over year
Median SalesPrice
Single Family Homes
The median sales price decreased from $4 2m in October 2021 to $4 1m in October 2022
Condos & Townhomes
The median sales price increased from $1.3m in October 2021 and $1.9m in October 2022.
AVGDays OntheMarket
Single Family Homes
The average days on market increased from 12 days last October 2021 to 23 days by October 2022
Condos & Townhomes
The average days on market increased from 47 days in October 2021 to 67 days this year
Overbids
Single Family Homes
The overbid percentage decreased from 109% last October 2021 to 100% a year later.
Condos & Townhomes
The overbid percentage increased from 96 10% last October 2021 to 100% a year later
December2021
October2021November2021
January2022February2022March2022April2022May2022June2022July2022August2022September2022October2022
December2021
75 50 25 0 October2021November2021December2021January2022February2022March2022April2022May2022June2022 July2022August2022September2022October2022 125% 100% 75% 50% 25% 0%
$5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0 October2021November2021
January2022February2022March2022April2022May2022June2022July2022August2022September2022October2022
SanJose
What's in the San Jose data?
In San Jose, the median sold price for single-family homes in October 2022 is similar to last year at $1.4 million. The number of homes sold decreased to 332, and the number of new listings decreased to 278. The number of condo & townhome sales decreased month-over-month to $750 thousand with 133 units sold and 126 new listings. Buyers are still being aggressive with their offer prices, with the median offer price continus to be about 100%. Only about 6% of all homes for sale were actually completed, due to supply constraints adding to the scarcity of home supply. Meanwhile, the demand continues to rise, leading to a rise in sales prices, creating an imbalance between supply and demand.
278 New Listings 1.3 Months of Inventory $1.4M Median Sale Price 96.6% Median Sale vs List 30 332 Sold Listings SFH Single Family Homes
Avg Days on Market
The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from October 2021 to October 2022. This may include preliminary data, and vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. 415.483.9285 Palo Alto DRE# 01511642 Copyright KW Advisors 2022. Each Office is independently owned and operated.
126 New Listings 1.8 Months of Inventory $750K Median Sale Price 99.3% Median Sale vs List 34 Avg Days on Market 133 Sold Listings CONDO Condo & Townhomes
tober2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022September2022October2022 tober2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022September2022October2022 SanJose OCTOBER 2021 - OCTOBER 2022 STINGS FOR SALE VS SOLD LISTINGS ngle Family Homes ast 12 months, year over year. ondos & Townhomes ast 12 months, year over year
Median SalesPrice
Single Family Homes
The median sales price stays at $1 4m for October 2021 and October 2022
Condos & Townhomes
The median sales price decreased from $770k in October 2021 and $750k in October 2022.
AVGDays OntheMarket
Single Family Homes
The average days on market increased from 17 days last October 2021 to 30 days by October 2022.
Condos & Townhomes
The average days on market increased from 19 days in October 2021 to 34 days this year
Overbids
Single Family Homes
The overbid percentage decreased from 107.9% last October 2021 to 96.6% a year later.
Condos & Townhomes
The overbid percentage decreased from 103 2% last October 2021 to 99 3% a year later
December2021
October2021November2021
January2022February2022March2022April2022May2022June2022July2022August2022September2022October2022
December2021
40 30 20 10 0 October2021November2021December2021January2022February2022March2022April2022May2022June2022
September2022October2022 125% 100% 75% 50% 25% 0%
$2,000,000 $1,500,000 $1,000,000 $500,000 $0 October2021November2021
January2022February2022March2022April2022May2022June2022July2022August2022September2022October2022
July2022August2022
Mountain View
What's in the Mountain View
data? In Mountain View, the median sold price for single-family homes in October increased month-over-month to $2.6 million. The number of homes sold decreased to 16 and the number of new listings decreased to 9. The number of condo and townhome sales decreased month-over-month at $1.2 million with 17 units sold and 40 new listings. Buyers are still being aggressive with their offer prices, with the median offer price continus to be about 100%.
Only about 6% of all homes for sale were actually completed, due to supply constraints adding to the scarcity of home supply. Meanwhile, the demand continues to rise, leading to a rise in sales prices, creating an imbalance between supply and demand.
The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from October 2021 to October 2022. This may include preliminary data, and vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. 415.483.9285 Palo Alto DRE# 01511642 Copyright KW Advisors 2022. Each Office is independently
tory $2.6M Median Sale Price 1% List 18 Avg Days
Market 16 Sold Listings mily
on
Homes
40 New Listings 2.4 Months of Inventory $1.2M Median Sale Price 99% Median Sale vs List 34 Avg Days on Market 17 Sold Listings CONDO Condo & Townhomes
October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022September2022October2022 00 75 50 25 0 ctober2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022September2022October2022 5 0 5 0 5 0 MountainView OCTOBER 2021 - OCTOBER 2022 ISTINGS FOR SALE VS SOLD LISTINGS ingle Family Homes ast 12 months, year over year. ondos & Townhomes ast 12 months, year over year
Single Family Homes
The median sales price has gone up from $2 5m last October 2021, to $2 6m by October 2022
Condos & Townhomes
The median sales price has slightly decreased from $1.4m of October 2021 to $1.2m by October 2022.
AVGDays OntheMarket
Single Family Homes
The average days on market from October 2021 was 11 days up to 18 days this year.
Condos & Townhomes
The average days on market significantly increased from 36 days last year's October, to 34 days this year
Overbids
Single Family Homes
The overbid percentage has decreased from 114.8% last year to 101.1% this year's October.
Condos & Townhomes
The overbid percentage has slightly decreased from 103 1% last year to 99% this year's October
November2021December2021January2022February2022March2022April2022May2022June2022July2022
September2022October2022
October2021
August2022
October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022August2022September2022October2022 60 40 20 0 October2021November2021December2021January2022February2022March2022April2022May2022June2022 July2022August2022September2022October2022 125% 100% 75% 50% 25% 0%
$4,000,000 $3,000,000 $2,000,000 $1,000,000 $0
Median SalesPrice
SanMateo County
What's in the San Mateo County
data?
In San Mateo County, the median sold price for single-family homes in October decreased month-over-month to $1.9 million. The number of homes sold decreased to 258, and the number of new listings also decreased to 311. The number of condo & townhome sales increased month-over-month at $958 thousand, with 83 units sold and 72 new listings. Buyers are still being aggressive with their offer prices, with the median offer price continus to be about 100%. Only about 6% of all homes for sale were actually completed, due to supply constraints adding to the scarcity of home supply. Meanwhile, the demand continues to rise, leading to a rise in sales prices, creating an imbalance between supply and demand.
311 New Listings 2.2 Months of Inventory $1.9M Median Sale Price 96.8% Median Sale vs List 30 258 Sold Listings SFH Single Family Homes
Days on Market
The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from October 2021 to October 2022. This may include preliminary data, and vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. 415.483.9285 Palo Alto DRE# 01511642 Copyright KW Advisors 2022. Each Office is independently owned and operated. Avg
CONDO Condo & Townhomes 72 New Listings 2.3 Months of Inventory $958K Median Sale Price 97.2% Median Sale vs List 42 Avg Days on Market 83 Sold Listings
October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022September2022October2022 1500 1000 500 0 October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022September2022October2022 500 400 300 200 100 0 LISTINGS FOR SALE VS SOLD LISTINGS SanMateo OCTOBER 2021 - OCTOBER 2022 Single Family Homes Last 12 months, year over year. Condos & Townhomes Last 12 months, year over year
Median SalesPrice
Single Family Homes
The median sales price decreased from $2 1m last October 2021, to $1 9m a year later
Condos & Townhomes
The median sales price has slightly increased from $950k last year's October to $958k this year.
AVGDays OntheMarket
Single Family Homes
The average days on market increased from 17 days last year's October, to 30 days this year.
Condos & Townhomes
From 22 days average days on the market record last year, it has increased to 42 days after a year
Overbids
Single Family Homes
The overbid percentage has decreased from 106.4% last year's October, to 96.8% this year.
Condos & Townhomes
The overbid percentage has gone down from 103 5% last year's October, to 97 2% this year
November2021December2021January2022
October2021
February2022March2022April2022May2022June2022July2022August2022September2022October2022
December2021January2022February2022March2022April2022May2022June2022July2022August2022
50 40 30 20 10 0 October2021November2021December2021January2022February2022March2022April2022May2022June2022 July2022August2022September2022October2022 125% 100% 75% 50% 25% 0%
$2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0 October2021November2021
September2022October2022
SantaClara County
What's in the Santa Clara County data?
In Santa Clara County, the median sold price for single-family homes in October decreased month-over-month to $1.6 million. The number of homes sold decreased to 620, and the number of new listings also decreased to 572. The number of condo & townhome sales increased month-over-month to $893 thousand, with 221 unit sold and 269 new listings. Buyers are still being aggressive with their offer prices, with the median offer price continus to be about 100%. Only about 6% of all homes for sale were actually completed, due to supply constraints adding to the scarcity of home supply. Meanwhile, the demand continues to rise, leading to a rise in sales prices, creating an imbalance between supply and demand.
The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from October 2021 to October 2022. This may include preliminary data, and vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. 415.483.9285 Palo Alto DRE# 01511642 Copyright KW Advisors 2022. Each Office is independently
$1.6M
Sale Price 28
Sold Listings
Median
620
Homes
Days
Market
Avg
on
CONDO Condo & Townhomes 269 New Listings 1.7 Months of Inventory $893K Median Sale Price 98% Median Sale vs List 36 Avg Days on Market 221 Sold Listings
October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022September2022October2022 4000 3,000 2000 1,000 0 October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022September2022October2022 1,500 1,000 500 0 SantaClara OCTOBER 2021 - OCTOBER 2022 LISTINGS FOR SALE VS SOLD LISTINGS Single Family Homes Last 12 months, year over year. Condos & Townhomes Last 12 months, year over year
Single Family Homes
The median sales price slightly decreased from $1 6m last year's October, to $1 6m this year
Condos & Townhomes
The median sales price increased from $857k last year's October, to $893k this year.
AVGDays OntheMarket
Single Family Homes
The average days on market has significantly increased from 17 days last October 2021, to 28 days this year's October.
Condos & Townhomes
The average days on market has gone up again from 23 days last year's October, to 36 days this year
Overbids
Single Family Homes
The overbid percentage is down from 108.4% last October 2021 to 97.10% a year later.
Condos & Townhomes
The overbid percentage has decreased from 103 2% last October 2021, to 98% this year
November2021December2021January2022
September2022October2022
October2021
February2022March2022April2022May2022June2022July2022August2022
November2021December2021January2022February2022March2022April2022May2022June2022July2022August2022September2022October2022 40 30 20 10 0 October2021November2021December2021January2022February2022March2022April2022May2022June2022 July2022August2022September2022October2022 125% 100% 75% 50% 25% 0%
$2,000,000 $1,500,000 $1,000,000 $500,000 $0 October2021
Median SalesPrice
505 Hamilton Ave Suite #100, Palo Alto, CA 94301 PaloAlto :
