Q4 2024 Market Report

Page 1


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.

HowToMakeItHappenin2025

This is the time when a lot of people take a moment to reflect and set their goals for this year. And as you picture what you want your 2025 to look like, one thing that may pop into your mind is the vision of you in a new home. But how do you get there? And where do you start?

Here’s some advice that can help you get the ball rolling.

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 2,915 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 2,604 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 25 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 $1,062, 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.

2,604

$1,062 New Listings

Average Price Per SqFt +16.9% Year-over-Year +6 5% Year-over-Year

2,915

Year-over-Year

$1.6M

1% Year-over-Year

25 $5.6B Average Days-on-Market Total Volume

Year-over-Year +36 1% 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 2,038 closed sales at a median price of $1 9M There was a total of 1,748 new listings with an average of 22 days on the market without price reduction and with an average price per square foot of $1,175. With a total volume of $4.7B.

Median Sales Price vs. Original Asking Price

New Listings vs. Closed Sales

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

Santa Clara County

Townhomes & Condominiums

The market for Townhomes & Condominiums saw 877 closed sales at a median price of $1M There was a total of 856 new listings with an average of 31 days on the market without price reduction and with an average price per square foot of $798. With a total volume of $950M.

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 1,204 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 1,036 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 33 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 $1,084, 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.

1,036

+14.7% Year-over-Year

1,204

Average Price Per SqFt

$1,084 New Listings

+4% Year-over-Year

$1.5M

+2 5% Year-over-Year

33 $2.6B Average Days-on-Market Total Volume +10% Year-over-Year

+17 9% Year-over-Year

Data includes all single family, townhome, and condominium sales in San Mateo 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

San Mateo County

Single Family Homes

The market for Single Family Homes saw 902 closed sales at a median price of $1.8M. There was a total of 776 new listings with an average of 28 days on the market without price reduction and with an average price per square foot of $1,190. With a total volume of $2.3B.

San Mateo County

Townhomes & Condominiums

The market for Townhomes & Condominiums saw 302 closed sales at a median price of $882k There was a total of 260 new listings with an average of 49 days on the market without price reduction and with an average price per square foot of $771. With a total volume of $305M.

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 2,544 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 2,357 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 29 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 $725, 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.

2,357

+8.6% Year-over-Year

Average Price Per SqFt

$725 New Listings

+1 7% Year-over-Year

2,544

Year-over-Year

$1.1M

8% Year-over-Year

29 $3.1B Average Days-on-Market Total Volume +31.8% Year-over-Year +19 6% Year-over-Year

Data includes all single family, townhome, and condominium sales in Alameda 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

Alameda County

Single Family Homes

The market for Single Family Homes saw 1,986 closed sales at a median price of $1 2M There was a total of 1,671 new listings with an average of 27 days on the market without price reduction and with an average price per square foot of $759. With a total volume of $2.6B.

Median Sales Price vs. Original Asking Price

New Listings vs. Closed Sales

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

Alameda County

Townhomes & Condominiums

The market for Townhomes & Condominiums saw 558 closed sales at a median price of $750K There was a total of 686 new listings with an average of 37 days on the market without price reduction and with an average price per square foot of $605. With a total volume of $435M.

Median Sales Price 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 2,375 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 $805k, underscoring their desirability and the overall strength of the market, especially in serving upscale clientele.

Moreover, the market saw a total of 2,450 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 32 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 $541, 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.

2,450

+13.9% Year-over-Year

Average Price Per SqFt

$541 New Listings

+1 3% Year-over-Year

2,375

$805K Closed Sales Median Sale Price

Year-over-Year +3 9% Year-over-Year

Average Days-on-Market

32 $2.4B

Total Volume +18.5% Year-over-Year +18 9% 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

Contra Costa County

Single Family Homes

The market for Single Family Homes saw 1,849 closed sales at a median price of $861K There was a total of 1,817 new listings with an average of 31 days on the market without price reduction and with an average price per square foot of $547. With a total volume of $2.1B.

Median Sales Price vs. Original Asking Price

2,000 2,500 3,000 3,500

vs.

Contra Costa County

Townhomes & Condominiums

The market for Townhomes & Condominiums saw 527 closed sales at a median price of $600k There was a total of 632 new listings with an average of 37 days on the market without price reduction and with an average price per square foot of $519. With a total volume of $361M.

vs.

vs.

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 406 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 468 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 38 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 $807, 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.

468

+28.2% Year-over-Year

Average Price Per SqFt

$807 New Listings

+0 8% Year-over-Year

406

$1.2M Closed Sales Median Sale Price

Year-over-Year +12 4% Year-over-Year

38 $536M Average Days-on-Market Total Volume

Year-over-Year +19 7% 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 Cruz County

Single Family Homes

The market for Single Family Homes saw 334 closed sales at a median price of $1.3M. There was a total of 373 new listings with an average of 39 days on the market without price reduction and with an average price per square foot of $825. With a total volume of $479M.

Sales Price vs. Original Asking Price

vs.

Santa Cruz County

Townhomes & Condominiums

The market for Townhomes & Condominiums saw 72 closed sales at a median price of $795K There was a total of 95 new listings with an average of 33 days on the market without price reduction and with an average price per square foot of $728. With a total volume of $56M.

Sales Price vs. Original Asking

vs.

Almaden Valley (San Jose)

Alum Rock (San Jose)

Berryessa (San Jose)

Cambrian (San Jose)

Central San Jose

(San Jose)

Los Gatos/ Monte Sereno

Jose)

South San Jose

Willow Glen (San Jose)

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 10,000 transactions, totalling more than $13 billion in closed sales volume.

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 distributed to their associates over $2.7 million in profit share.

KW Bay Area Estates

16780 Lark Ave, Los Gatos, CA, 95032

Phone: 408.560.9000

12820 Saratoga-Sunnyvale Rd, Saratoga, 95070

Phone: 408.418.3911

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