Stefan Walker - Third Quarter Market Report - KW Bay Area Estates

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KW Bay Area Estates

Santa Clara County

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San Mateo County

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Alameda County

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Contra Costa County

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Santa Cruz County

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Almaden Valley (San Jose)

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Alum Rock (San Jose)

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Berryessa (San Jose)

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Blossom Valley (San Jose)

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Cambrian (San Jose)

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Jump to Campbell Report Campbell

Central San Jose

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Jump to Cupertino Report Cupertino

Evergreen (San Jose)

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Los Altos

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Los Altos Hills

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Los Gatos Mountains

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Los Gatos/Monte Sereno

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Milpitas

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Morgan Hill/Gilroy/San Martin

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Mountain View

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Palo Alto

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Santa Clara City

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Santa Teresa (San Jose)

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Saratoga

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South San Jose

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Sunnyvale

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Willow Glen (San Jose)

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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.

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?

Santa Clara County

What's in the Santa Clara County data?

The latest data from the housing market indicates a resilient and active landscape across Single Family Homes, Condos, and Townhomes. With 3,111 closed sales recorded during the reporting period, the market continues to exhibit robust performance, demonstrating sustained demand among buyers. The median price for these properties stands impressively at $1.5 million, underscoring their desirability and the overall strength of the market, especially in serving upscale clientele.

Moreover, the market saw a total of 4,230 new listings, indicating healthy inventory levels and providing buyers with a diverse range of options to consider. This influx of listings reflects positively on the market's capacity to accommodate varying preferences, contributing to its dynamism and attractiveness.

A particularly notable metric is the average duration properties spend on the market before sale, which stands at 20 days without price reduction. This indicates a swift turnaround time for properties, suggesting high buyer interest and competitive conditions within the market.

Additionally, the average price per square foot remains high at $1,067, emphasizing the premium nature of the properties available and attracting buyers seeking upscale residences with superior features and amenities.

Overall, these indicators paint a picture of resilience and continued vitality in the housing market. Despite external factors, the market for Single Family Homes, Condos, and Townhomes appears well-positioned for sustained growth and stability in the foreseeable future.

4,230

$1,067 New Listings

Average Price Per SqFt +19.7% Year-over-Year +4 3% Year-over-Year

3,111

Year-over-Year

$1.5M

Year-over-Year

20 $5.9B Average Days-on-Market Total Volume

Year-over-Year +18% Year-over-Year

Data includes all single family, townhome, and condominium sales in Santa Clara County 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

Santa Clara County

Single Family Homes

The market for Single Family Homes saw 2,212 closed sales at a median price of $1 8M There was a total of 2,857 new listings with an average of 18 days on the market without price reduction and with an average price per square foot of $1,176. With a total volume of $5B.

vs.

New Listings vs. Close

1,000 2,000 3,000 4,000

Santa Clara County

Townhomes & Condominiums

The market for Townhomes & Condominiums saw 899 closed sales at a median price of $1M There was a total of 1,373 new listings with an average of 25 days on the market without price reduction and with an average price per square foot of $801. With a total volume of $969M.

Median Sales Price

Median Sales Price vs. Original Asking Price

New Listings vs. Closed Sales

San Mateo County

What's in the San Mateo County data?

The latest data from the housing market indicates a resilient and active landscape across Single Family Homes, Condos, and Townhomes. With 1,292 closed sales recorded during the reporting period, the market continues to exhibit robust performance, demonstrating sustained demand among buyers. The median price for these properties stands impressively at $1.6 million, underscoring their desirability and the overall strength of the market, especially in serving upscale clientele.

Moreover, the market saw a total of 1,759 new listings, indicating healthy inventory levels and providing buyers with a diverse range of options to consider. This influx of listings reflects positively on the market's capacity to accommodate varying preferences, contributing to its dynamism and attractiveness.

A particularly notable metric is the average duration properties spend on the market before sale, which stands at 26 days without price reduction. This indicates a swift turnaround time for properties, suggesting high buyer interest and competitive conditions within the market.

Additionally, the average price per square foot remains high at $1,093, emphasizing the premium nature of the properties available and attracting buyers seeking upscale residences with superior features and amenities.

Overall, these indicators paint a picture of resilience and continued vitality in the housing market. Despite external factors, the market for Single Family Homes, Condos, and Townhomes appears well-positioned for sustained growth and stability in the foreseeable future.

New Listings

1,759

+4.9% Year-over-Year

Average Price Per SqFt

$1,093

+3 2% Year-over-Year

1,292

+8.9% Year-over-Year

Median Sale Price

$1.6M Closed Sales

+3 9% Year-over-Year

Average Days-on-Market

26

-3.7% Year-over-Year

Total Volume

$2.6B

+6 4% Year-over-Year

San Mateo County

Single Family Homes

The market for Single Family Homes saw 981 closed sales at a median price of $1.9M. There was a total of 1,292 new listings with an average of 23 days on the market without price reduction and with an average price per square foot of $1,181. With a total volume of $2.3B.

San Mateo County

Townhomes & Condominiums

The market for Townhomes & Condominiums saw 311 closed sales at a median price of $915k There was a total of 467 new listings with an average of 35 days on the market without price reduction and with an average price per square foot of $813. With a total volume of $325M.

Median Sales Price vs. Original Asking Price

vs.

Alameda County

What's in the Alameda County data?

The latest data from the housing market indicates a resilient and active landscape across Single Family Homes, Condos, and Townhomes. With 2,751 closed sales recorded during the reporting period, the market continues to exhibit robust performance, demonstrating sustained demand among buyers. The median price for these properties stands impressively at $1.1 million, underscoring their desirability and the overall strength of the market, especially in serving upscale clientele.

Moreover, the market saw a total of 4,177 new listings, indicating healthy inventory levels and providing buyers with a diverse range of options to consider. This influx of listings reflects positively on the market's capacity to accommodate varying preferences, contributing to its dynamism and attractiveness.

A particularly notable metric is the average duration properties spend on the market before sale, which stands at 24 days without price reduction. This indicates a swift turnaround time for properties, suggesting high buyer interest and competitive conditions within the market.

Additionally, the average price per square foot remains high at $740, emphasizing the premium nature of the properties available and attracting buyers seeking upscale residences with superior features and amenities.

Overall, these indicators paint a picture of resilience and continued vitality in the housing market. Despite external factors, the market for Single Family Homes, Condos, and Townhomes appears well-positioned for sustained growth and stability in the foreseeable future.

2024

New Listings

4,177

+13.9% Year-over-Year

Average Price Per SqFt

$740

+1 1% Year-over-Year

2,751

Median Sale Price +6.1%Year-over-Year

$1.1M Closed Sales

+1 4% Year-over-Year

Average Days-on-Market

24

+26.3% Year-over-Year

Total Volume

$3.3B

+7 3% Year-over-Year

Alameda County

Single Family Homes

The market for Single Family Homes saw 2,112 closed sales at a median price of $1 2M There was a total of 3,029 new listings with an average of 22 days on the market without price reduction and with an average price per square foot of $777. With a total volume of $2.8B.

Median Sales Price vs. Original Asking Price

New Listings vs. Closed

1,000 2,000 3,000 4,000

Alameda County

Townhomes & Condominiums

The market for Townhomes & Condominiums saw 639 closed sales at a median price of $725K There was a total of 1,148 new listings with an average of 30 days on the market without price reduction and with an average price per square foot of $617. With a total volume of $492M.

ce vs. Original Asking Price

vs.

Contra Costa County

What's in the Contra Costa County data?

The latest data from the housing market indicates a resilient and active landscape across Single Family Homes, Condos, and Townhomes. With 2,593 closed sales recorded during the reporting period, the market continues to exhibit robust performance, demonstrating sustained demand among buyers. The median price for these properties stands impressively at $800,000, underscoring their desirability and the overall strength of the market, especially in serving upscale clientele.

Moreover, the market saw a total of 3,784 new listings, indicating healthy inventory levels and providing buyers with a diverse range of options to consider. This influx of listings reflects positively on the market's capacity to accommodate varying preferences, contributing to its dynamism and attractiveness.

A particularly notable metric is the average duration properties spend on the market before sale, which stands at 28 days without price reduction. This indicates a swift turnaround time for properties, suggesting high buyer interest and competitive conditions within the market.

Additionally, the average price per square foot remains high at $558, emphasizing the premium nature of the properties available and attracting buyers seeking upscale residences with superior features and amenities.

Overall, these indicators paint a picture of resilience and continued vitality in the housing market. Despite external factors, the market for Single Family Homes, Condos, and Townhomes appears well-positioned for sustained growth and stability in the foreseeable future.

New Listings

3,784

+12.5% Year-over-Year

Average Price Per SqFt

$558

+1 3% Year-over-Year

2,593

+1.5% Year-over-Year

Median Sale Price

$800K Closed Sales

+0% Year-over-Year

Average Days-on-Market

28

+33.3% Year-over-Year

Total Volume

$2.7B

+4% Year-over-Year

Contra Costa County

Single Family Homes

The market for Single Family Homes saw 2,024 closed sales at a median price of $860K There was a total of 2,856 new listings with an average of 26 days on the market without price reduction and with an average price per square foot of $567. With a total volume of $2.3B.

Median Sales Price

Median Sales Price vs. Original Asking Price

New Listings vs. Closed Sales

0,000 0,500 1,000 1,500 2,000 2,500 3,000 3,500

Average Days on Market

Contra Costa County

Townhomes & Condominiums

The market for Townhomes & Condominiums saw 569 closed sales at a median price of $605k There was a total of 928 new listings with an average of 36 days on the market without price reduction and with an average price per square foot of $526. With a total volume of $387M.

Listings vs. Closed

Santa Cruz County

What's in the Santa Cruz County data?

The latest data from the housing market indicates a resilient and active landscape across Single Family Homes, Condos, and Townhomes. With 451 closed sales recorded during the reporting period, the market continues to exhibit robust performance, demonstrating sustained demand among buyers. The median price for these properties stands impressively at $ 1.2 million, underscoring their desirability and the overall strength of the market, especially in serving upscale clientele.

Moreover, the market saw a total of 724 new listings, indicating healthy inventory levels and providing buyers with a diverse range of options to consider. This influx of listings reflects positively on the market's capacity to accommodate varying preferences, contributing to its dynamism and attractiveness.

A particularly notable metric is the average duration properties spend on the market before sale, which stands at 34 days without price reduction. This indicates a swift turnaround time for properties, suggesting high buyer interest and competitive conditions within the market.

Additionally, the average price per square foot remains high at $829, emphasizing the premium nature of the properties available and attracting buyers seeking upscale residences with superior features and amenities.

Overall, these indicators paint a picture of resilience and continued vitality in the housing market. Despite external factors, the market for Single Family Homes, Condos, and Townhomes appears well-positioned for sustained growth and stability in the foreseeable future.

724

+15.1% Year-over-Year

Average Price Per SqFt

$829 New Listings

+4 2% Year-over-Year

451

+0.7% Year-over-Year

Median Sale Price

$1.2M Closed Sales

+4 4% Year-over-Year

Average Days-on-Market

34

+9.7% Year-over-Year

Total Volume

$608M

+7 6% Year-over-Year

Santa Cruz County

Single Family Homes

The market for Single Family Homes saw 366 closed sales at a median price of $1.3M. There was a total of 588 new listings with an average of 32 days on the market without price reduction and with an average price per square foot of $856. With a total volume of $536M.

Listings vs.

Santa Cruz County

Townhomes & Condominiums

The market for Townhomes & Condominiums saw 85 closed sales at a median price of $827K There was a total of 136 new listings with an average of 40 days on the market without price reduction and with an average price per square foot of $709. With a total volume of $72M.

Almaden Valley (San Jose)

Alum Rock (San Jose)

Jose)

Cambrian (San Jose)

$540K $3.5M $2,053

Central San Jose

Evergreen (San Jose)

Los Altos Hills

Los Gatos/ Monte Sereno

$5.9M $5,467

$770K $16.7M $3,438

Santa Teresa (San Jose)

South San Jose

2023

$440K $2.1M $1,081

Willow Glen (San Jose)

$556K $5.3M $2,168

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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