July 2023 Copyright by KW Advisors 2023
Palo Alto area
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Los Altos
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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 today's market?
Icanhelp...
Contact me for a confidential, no obligation assessment of your home's value.
TwoQuestionsToAsk YourselfifYou’re ConsideringBuyingaHome
If you’re thinking of buying a home, chances are you’re paying attention to just about everything you hear about the housing market. And you’re getting your information from a variety of channels: the news, social media, your real estate agent, conversations with friends and loved ones, overhearing someone chatting at the local supermarket, the list goes on and on. Most likely, home prices and mortgage rates are coming up a lot.
To help cut through the noise and give you the information you need most, take a look at what the data says. Here are the top two questions you need to ask yourself about home prices and mortgage rates as you make your decision:
1. Where Do I Think Home Prices Are Heading?
One reliable place you can turn to for that information is the Home Price Expectation Survey from Pulsenomics – a survey of a national panel of over one hundred economists, real estate experts, and investment and market strategists.
According to the latest release, the experts surveyed are projecting slight depreciation this year (see the red in the graph below). But here’s the context you need most. The worst home price declines are already behind us, and prices are actually appreciating again in many markets. Not to mention, the small 0.37% depreciation HPES is showing for 2023 is far from the crash some people originally said would happen.
Now, let’s look to the future. The green in the graph below shows prices have turned a corner and are expected to appreciate in 2024 and beyond. After this year, the HPES is forecasting home price appreciation returning to more normal levels for the next several years.
So, why does this matter to you? It means your home will likely grow in value and you should gain home equity in the years ahead, but only if you buy now. If you wait, based on these forecasts, the home will only cost you more later on.
2. Where Do I Think Mortgage Rates Are Heading?
Over the past year, mortgage rates have risen in response to economic uncertainty, inflation, and more. We know based on the latest reports that inflation, while still high, has moderated from its peak. This is an encouraging sign for the market and for mortgage rates. Here’s why.
When inflation cools, mortgage rates generally fall in response. This may be why some experts are saying mortgage rates will pull back slightly over the next few quarters and settle somewhere around roughly 5.5 and 6% on average.
But, not even the experts can say with absolute certainty where mortgage rates will be next year, or even next month. That’s because there are so many factors that can impact what happens. So, to give you a lens into the various possible outcomes, here’s what you should consider:
If you buy now and mortgage rates don’t change: You made a good move since home prices are projected to grow with time, so at least you beat rising prices.
If you buy now and mortgage rates fall (as projected): You probably still made a good decision because you got the house before home prices appreciated more. And, you can always refinance your home later on if rates are lower.
If you buy now and mortgage rates rise: If this happens, you made a great decision because you bought before both the price of the home and the mortgage rate went up.
Source: Keeping Current Matters
PaloAlto
What's in the Palo Alto data?
In June, Palo Alto had 96 homes for sale, providing the market with 1.5 months of inventory. There were 40 new listings and a total of 41 homes sold. The median sale price was $3.4m, and the median overbid was 98.2%. The average time on the market was 27 days.
There are 28 condo and townhome units for sale, providing the market with 1 8 months of inventory There were 14 new listings for sale and 10 condos sold, with a median sale price of $1.4m and a median overbid of 100.7%. The average time on the market was 23 days.
SFH Single-Family Homes
40 New Listings
41 Sold Listings
1.5 Months of Inventory
$3.4M Median Sale Price
98.2% Median Sale vs List
27 Avg Days on Market
The data, sourced from InfoSparks and Broker Metrics, includes all single-family homes, condos and townhomes in the California Area above from June 2022 to June 2023. 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 San Francisco | Napa Valley 2023. Each office is independently owned and operated.
JUNE 2022 - JUNE 2023
S FOR SALE SOLD LISTINGS
ly Homes
nths, year-over-year.
ownhomes
nths, year-over-year
2022 Sep2022 Oct2022 Nov2022 Dec2022 Jan2023 Feb2023 Mar2023 Apr2023 May2023 Jun2023 g2022 Sep2022 Oct2022 Nov2022 Dec2022 Jan2023 Feb2023 Mar2023 Apr2023 May2023 Jun2023
oAlto
Median SalesPrice
Single-Family Homes
The median sales price has decreased from $3 7m last June 2022, to $3 4m as of June 2023
Condos & Townhomes
The median sales price has decreased from $1.6m last June 2022, to $1.4m as of June 2023.
Overbids
Single-Family Homes
The overbid percentage has decreased from 98 5% last June 2022, to 98 2% a year later
Condos & Townhomes
The overbid percentage has decreased from 108.1% last June 2022, to 100.7% a year later.
Single-Family Homes
The average time spent on the market went down from 28 days last June 2022, to 27 days as of June 2023
Condos & Townhomes
The average time spent on the market went down from 26 days in June 2022, to 23 days as of June 2023
Back to Table of Contents Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023Jun2023 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 150 100 50 0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 125% 100% 75% 50% 25% 0%
AVGDays OntheMarket
Redwood City
What's in the Redwood City data?
In June, Redwood City had 49 single-family homes sold, with a median sale price of $2.1m. The median overbid was 100.3%, and the average time on the market was 16 days. In terms of inventory, 91 homes for sale provide the market with 1 1 months of inventory.
For condos, there were a total of 11 units sold. The median sale price increased to $1.4m, and the median overbid decreased to 99.8%. The average time on the market fell to 15 days. There are currently 21 condos for sale, providing the market with 2 months of inventory
oodCity 2022 Nov2022 Dec2022 Jan2023 Feb2023 Mar2023 Apr2023 May2023 Jun2023 t2022 Nov2022 Dec2022 Jan2023 Feb2023 Mar2023 Apr2023 May2023 Jun2023 JUNE 2022 - JUNE 2023 s r-over-year. es r-over-year
ALE SOLD LISTINGS
Median SalesPrice
Single-Family Homes
The median sales price has remained at $2 1m since June 2022
Condos & Townhomes
The median sales price has increased from $1.3m last June 2022, to $1.4m as of June 2023.
AVGDays OntheMarket
Single-Family Homes
The average time spent on the market went down from 19 days last June 2022, to 16 days as of June 2023
Condos & Townhomes
The average time spent on the market went down from 29 days in June 2022, to 15 days as of June 2023
Overbids
Single-Family Homes
The overbid percentage has decreased from 108 2% last June 2022, to 100 3% a year later
Condos & Townhomes
The overbid percentage has decreased from 101% last June 2022, to 99.8% a year later.
Back to Table of Contents Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023Jun2023 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 60 40 20 0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 125% 100% 75% 50% 25% 0%
Portola Valley
What's in the Portola V data?
In June, there were 20 single-family h sale, with 3 new listings and 8 home months of inventory was 3.8. The me price was $3.4m, with an overbid of average days on the market were 37
There is no data for condos and tow month.
mes
8 Sold Listings
$3.4M edian Sale Price
37 g Days on Market
etrics, includes all single-family homes, above from June 2022 to June 2023. This from the time the data was gathered. All DRE# 01511642. Copyright KW Advisors San Francisco | Napa Valley 2023. Each office is independently owned and operated.
PortolaValley
JUNE 2022 - JUNE 2023
Single-Family Homes
Last 12 months, year-over-year.
LISTINGS FOR SALE SOLD LISTINGS No Data For This Month.
Condos & Townhomes
Last 12 months, year-over-year
Jun2022 Jul2022 Aug2022 Sep2022 Oct2022 Nov2022 Dec2022 Jan2023 Feb2023 Mar2023 Apr2023 May2023 Jun2023 40 30 20 10 0 100 75 50 25 0
Median SalesPrice
Single-Family Homes
The median sales price has decreased from $4 5m last June 2022, to $3 4m as of June 2023
Condos & Townhomes
No Data For This Month.
Overbids
Single-Family Homes
The overbid percentage has increased from 91 8% last June 2022, to 92 3% a year later
Condos & Townhomes
No Data For This Month.
AVGDays OntheMarket
Single-Family Homes
The average time spent on the market went up from 30 days last June 2022, to 37 days as of June 2023
Condos & Townhomes
No Data For This Month
Back
of Contents Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023Jun2023 $7,500,000 $5,000,000 $2,500,000 $0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 150 100 50 0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 125% 100% 75% 50% 25% 0%
to Table
Men
What's in
The real estate strong demand
2.3 months of and 30 homes inventory, with median overbid market was 47
The condo mar available. Ther sold, with a me median overbid the market for
omes
30 Sold Listings
$2.8M Median Sale Price
47 Avg Days on Market
Broker Metrics, includes all single-family homes, Area above from June 2022 to June 2023. This vary from the time the data was gathered. All guaranteed. DRE# 01511642. Copyright KW Advisors San Francisco | Napa Valley 2023. Each office is independently owned and operated.
Month 100 Media
Park ov2022 Dec2022 Jan2023 Feb2023 Mar2023 Apr2023 May2023 Jun2023 ov2022 Dec2022 Jan2023 Feb2023 Mar2023 Apr2023 May2023 Jun2023 er-year. y er-year E SOLD LISTINGS
Median SalesPrice
Single-Family Homes
The median sales price has decreased from $3 3m last June 2022, to $2 8m as of June 2023
Condos & Townhomes
The median sales price has decreased from $1.9m last June 2022, to $1.3m as of June 2023.
AVGDays OntheMarket
Single-Family Homes
The average time spent on the market went up from 11 days last June 2022, to 47 days as of June 2023
Condos & Townhomes
The average time spent on the market went up from 16 days in June 2022, to 37 days as of June 2023
Overbids
Single-Family Homes
The overbid percentage has decreased from 102 7% last June 2022, to 99 3% a year later
Condos & Townhomes
The overbid percentage has decreased from 104.9% last June 2022, to 100.6% a year later.
Back to Table of Contents Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023Jun2023 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 200 150 100 50 0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 125% 100% 75% 50% 25% 0%
Athert
What's in the Ath
In June, Los Altos had 39 sale, providing the market inventory. There were 10 n 12 homes sold. The media family homes was $7.3m, of 90.7%. The average tim single-family homes was 1
On the other hand, the con has a much smaller inven sale. In June, 1 new listing condos were sold. The me condos was unavailable a There is no median overbi
e-Family Homes
12 months, year-over-year.
os & Townhomes
12 months, year-over-year
Jul2022 Aug2022 Sep2022 Oct2022 Nov2022 Dec2022 Jan2023 Feb2023 Mar2023 Apr2023 May2023 Jun2023 Jul2022 Aug2022 Sep2022 Oct2022 Nov2022 Dec2022 Jan2023 Feb2023 Mar2023 Apr2023 May2023 Jun2023
therton
JUNE 2022 - JUNE 2023
STINGS FOR SALE SOLD LISTINGS
Median SalesPrice
Single-Family Homes
The median sales price has decreased from $7 5m last June 2022, to $7 3m as of June 2023
Condos & Townhomes
The median sales price has decreased from $841k last June 2022, to $0 as of June 2023.
AVGDays OntheMarket
Single-Family Homes
The average time spent on the market went up from 11 days last June 2022, to 104 days as of June 2023
Condos & Townhomes
The average time spent on the market went down from 12 days in June 2022, to 0 days as of June 2023
Overbids
Single-Family Homes
The overbid percentage has decreased from 98 8% last June 2022, to 90 7% a year later
Condos & Townhomes
The overbid percentage has decreased from 101.9% last June 2022, to 0% a year later.
Back to Table of Contents Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023Jun2023 $20,000,000 $15,000,000 $10,000,000 $5,000,000 $0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 125 100 75 50 25 0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 125% 100% 75% 50% 25% 0%
LosAltos
What's in the Los Altos data?
In June, Los Altos had 49 single-family homes for sale, providing the market with only 1.5 months o inventory. There were 22 new listings added, and 25 homes sold. The median sale price for singlefamily homes was $3.8m, with a median overbid of 102.1%. The average time on the market for single-family homes was 17 days.
On the other hand, the condo market in Los Altos has a much smaller inventory, with only 15 units for sale. In June, 8 new listings were added, and 8 condos were sold. The median sale price for condos was $1.6m. The median overbid percentage for June was 99.8%. The average time on the market was 21 days.
SFH ingle-Family Homes
22 w Listings
25 Sold Listings
1.5 onths of Inventory
$3.8M Median Sale Price
102.1% edian Sale vs List
17 Avg Days on Market
data, sourced from InfoSparks and Broker Metrics, includes all single-family homes, condos and townhomes in the California Area above from June 2022 to June 2023. 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 San Francisco | Napa Valley 2023. Each office is independently owned and operated.
CONDO
Condo & Townhomes
8 New Listings
8 Sold Listings
1.4 Months of Inventory
$1.6M Median Sale Price
99.8% Median Sale vs List
21 Avg Days on Market
Single-Family Homes
Last 12 months, year-over-year.
Condos & Townhomes
Last 12 months, year-over-year
LosAltos Jun2022 Jul2022 Aug2022 Sep2022 Oct2022 Nov2022 Dec2022 Jan2023 Feb2023 Mar2023 Apr2023 May2023 Jun2023 125 100 75 50 25 0 Jun2022 Jul2022 Aug2022 Sep2022 Oct2022 Nov2022 Dec2022 Jan2023 Feb2023 Mar2023 Apr2023 May2023 Jun2023 25 20 15 10 5 0
JUNE 2022 - JUNE 2023
LISTINGS FOR SALE SOLD LISTINGS
Median SalesPrice
Single-Family Homes
The median sales price has decreased from $4 2m last June 2022, to $3 8m as of June 2023
Condos & Townhomes
The median sales price has increased from $1.3m last June 2022, to $1.6m as of June 2023.
AVGDays OntheMarket
Single-Family Homes
The average time spent on the market has remained at 17 days since June 2022
Condos & Townhomes
The average time spent on the market went down from 30 days in June 2022, to 21 days as of June 2023
Overbids
Single-Family Homes
The overbid percentage has decreased from 106 2% last June 2022, to 102 1% a year later
Condos & Townhomes
The overbid percentage has increased from 98% last June 2022, to 99.8% a year later.
Back to Table of Contents Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023Jun2023 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 200 150 100 50 0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 125% 100% 75% 50% 25% 0%
SanJos
What's in the San
In June, San Jose had 598 s sale, providing the market w inventory. There were 350 n homes were sold. The med single-family homes was $1 overbid was 104.5%. The av market for single-family hom
There are 282 condo and to providing the market with 1 There were 162 new listings
The median sale price for c the median overbid was 103 on the market for condos w
162 New Listings
138 Sold Listings
1 Months of Inventory
$865K Median Sale Price
103.5% Median Sale vs List
19 Avg Days on Market
& Townhomes
CONDO Condo
Single-Family Homes
Last 12 months, year-over-year.
Condos & Townhomes
Last 12 months, year-over-year
Jun2022 Jul2022 Aug2022 Sep2022 Oct2022 Nov2022 Dec2022 Jan2023 Feb2023 Mar2023 Apr2023 May2023 Jun2023 2000 1500 1000 500 0 Jun2022 Jul2022 Aug2022 Sep2022 Oct2022 Nov2022 Dec2022 Jan2023 Feb2023 Mar2023 Apr2023 May2023 Jun2023 750 500 250 0 JUNE 2022 - JUNE 2023
SanJose
LISTINGS FOR SALE SOLD LISTINGS
Median SalesPrice
Single-Family Homes
The median sales price has increased from $1 5m last June 2022, to $1 6m as of June 2023
Condos & Townhomes
The median sales price has increased from $845k last June 2022, to $865k as of June 2023
Overbids
Single-Family Homes
The overbid percentage has decreased from 104 6% last June 2022, to 104 5% a year later
Condos & Townhomes
The overbid percentage has decreased from 105.2% last June 2022, to 103.5% a year later.
Single-Family Homes
The average time spent on the market has remained at 20 days since last June.
Condos & Townhomes
The average time spent on the market remained at 19 days since last June
Back to Table of Contents Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023Jun2023 $2,000,000 $1,500,000 $1,000,000 $500,000 $0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 50 40 30 20 10 0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 125% 100% 75% 50% 25% 0%
AVGDays OntheMarket
M Vi
Wha data In June providin
There w 25 hom $2 5m average
There a providin 24 new condos $1.3m. average
Mce single-family homes, June 2023. This was gathered. All Copyright KW Advisors San Francisco | Napa Valley 2023. Each office is independently owned and operated. rket
24
New
Months of Inventory
Median Sale Price
Median Sale vs List 26 Avg Days on Market
Sold
Condo & Townhomes
Listings 1.6
$1.3M
103%
22
Listings CONDO
y y
Median SalesPrice
Single-Family Homes
The median sales price has increased from $2 3m last June 2022, to $2 5m as of June 2023
Condos & Townhomes
The median sales price has increased from $1.1m last June 2022, to $1.3m as of June 2023.
AVGDays OntheMarket
Single-Family Homes
The average time spent on the market has remained at 18 days since last June
Condos & Townhomes
The average time spent on the market went up from 19 days in June 2022, to 26 days as of June 2023
Overbids
Single-Family Homes
The overbid percentage has decreased from 106 5% last June 2022, to 106 2% a year later
Condos & Townhomes
The overbid percentage has decreased from 105.2% last June 2022, to 103% a year later.
Back to Table of Contents Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023Jun2023 $3,000,000 $2,000,000 $1,000,000 $0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 75 50 25 0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 125% 100% 75% 50% 25% 0%
Sa Co
What' data?
In June, S for sale, p inventory of 364 ho single-fam overbid fo which is t on the m days. There we sale, prov market T total of 1 $982k. Th average t
Msingle-family homes, June 2023. This gathered. All KW Advisors San Francisco | Napa Valley 2023. Each office is independently owned and operated.
et
Single-Family Homes
Last 12 months, year-over-year.
Condos & Townhomes
Last 12 months, year-over-year
Jun2022 Jul2022 Aug2022 Sep2022 Oct2022 Nov2022 Dec2022 Jan2023 Feb2023 Mar2023 Apr2023 May2023 Jun2023 1250 1000 750 500 250 0 Jun2022 Jul2022 Aug2022 Sep2022 Oct2022 Nov2022 Dec2022 Jan2023 Feb2023 Mar2023 Apr2023 May2023 Jun2023 400 300 200 100 0 JUNE 2022 - JUNE 2023
SanMateo
LISTINGS FOR SALE SOLD LISTINGS
Median SalesPrice
Single-Family Homes
The median sales price has decreased from $2m last June 2022, to $1 9m as of June 2023
Condos & Townhomes
The median sales price has increased from $940k last June 2022, to $982k as of June 2023.
Overbids
Single-Family Homes
The overbid percentage has decreased from 107 7% last June 2022, to 101 3% a year later
Condos & Townhomes
The overbid percentage has decreased from 102.6% last June 2022, to 100.9% a year later.
Single-Family Homes
The average time spent on the market went up from 15 days last June 2022, to 21 days as of June 2023
Condos & Townhomes
The average time spent on the market went down from 20 days in June 2022, to 19 days as of June 2023
Back to Table of Contents Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023Jun2023 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 60 40 20 0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 125% 100% 75% 50% 25% 0%
AVGDays OntheMarket
Santa Coun
What's in the S County data?
Santa Clara had 612 s in June, providing the inventory. In June, the a total of 787 homes s price of $1 8m The m and the average time
There are currently a t providing the market w There were 272 new li 304 condos sold with The median overbid w time on the market wa
mily Homes
9% st
787 Sold Listings
$1.8M Median Sale Price
17 Avg Days on Market
InfoSparks and Broker Metrics, includes all single-family homes, the California Area above from June 2022 to June 2023. This data, and may vary from the time the data was gathered. All not guaranteed. DRE# 01511642. Copyright KW Advisors San Francisco | Napa Valley 2023. Each office is independently owned and operated.
ory
New Listings
Months of Inventory $1M Median Sale Price 102.3% Median Sale vs List 18 Avg Days on Market 304 Sold Listings
Condo & Townhomes
272
1.1
CONDO
, y y
Median SalesPrice
Single-Family Homes
The median sales price has remained at $1 8m since last June
Condos & Townhomes
The median sales price has increased from $965k last June 2022, to $1m as of June 2023.
Overbids
Single-Family Homes
The overbid percentage has decreased from 104 9% last June 2022, to 103 9% a year later
Condos & Townhomes
The overbid percentage has decreased from 104% last June 2022, to 102.3% a year later.
Single-Family Homes
The average time spent on the market went up from 14 days last June 2022, to 17 days as of June 2023
Condos & Townhomes
The average time spent on the market went up from 14 days in June 2022, to 18 days as of June 2023
Back to Table of Contents Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023Jun2023 $2,000,000 $1,500,000 $1,000,000 $500,000 $0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 40 30 20 10 0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 125% 100% 75% 50% 25% 0%
AVGDays OntheMarket
Monterey County
What's in the Monterey County data?
In June, Monterey had a total of 495 single-family homes on the market, providing 2 months of inventory. There were 212 new listings and a total of 156 homes sold, with a median sale price of $800k and a median overbid of 97 7% The average time on the market decreased to 32 days.
52 condo and townhome units were available for sale, providing the market with 2.2 months of inventory. There were 23 new listings and a total of 28 condos sold, with a median sale price of $767k and a median overbid of 96.7%. The average time on the market remained relatively stable at 32 days.
SFH ingle-Family Homes
212 w Listings
156 Sold Listings
2 onths of Inventory
$800K Median Sale Price
97.7% edian Sale vs List
32 Avg Days on Market
data, sourced from InfoSparks and Broker Metrics, includes all single-family homes, condos and townhomes in the California Area above from June 2022 to June 2023. 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 San Francisco | Napa Valley 2023. Each office is independently owned and operated.
2.2
23 New Listings
Months of Inventory
Median Sale Price
Median Sale vs List
Days on Market
Condo & Townhomes
$767K
96.7%
32 Avg
28 Sold Listings CONDO
Single-Family Homes
Last 12 months, year-over-year.
Condos & Townhomes
Last 12 months, year-over-year
MontereyCounty Jun2022 Jul2022 Aug2022 Sep2022 Oct2022 Nov2022 Dec2022 Jan2023 Feb2023 Mar2023 Apr2023 May2023 Jun2023 1000 750 500 250 0 Jun2022 Jul2022 Aug2022 Sep2022 Oct2022 Nov2022 Dec2022 Jan2023 Feb2023 Mar2023 Apr2023 May2023 Jun2023 100 75 50 25 0
JUNE 2023
JUNE 2022 -
LISTINGS FOR SALE SOLD LISTINGS
Median SalesPrice
Single-Family Homes
The median sales price has decreased from $852k last June 2022, to $800k as of June 2023
Condos & Townhomes
The median sales price has increased from $550k last June 2022, to $767k as of June 2023.
Overbids
Single-Family Homes
The overbid percentage has increased from 97 2% last June 2022, to 97 7% a year later
Condos & Townhomes
The overbid percentage has decreased from 101.4% last June 2022, to 96.7% a year later.
Single-Family Homes
The average time spent on the market went up from 31 days last June 2022, to 32 days as of June 2023
Condos & Townhomes
The average time spent on the market went up from 18 days in June 2022, to 32 days as of June 2023
Back to Table of Contents Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023Jun2023 $1,000,000 $750,000 $500,000 $250,000 $0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 75 50 25 0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 125% 100% 75% 50% 25% 0%
AVGDays OntheMarket
SantaCruz County
What's in the Santa Cruz County data?
In June, Santa Cruz had 422 single-family homes for sale, providing the market with 2 months of inventory. There were 188 new listings added, and a total of 149 homes sold. The median sale price for single-family homes was $1 2m, and the median overbid was 99.8%. The average time on the market was 30 days.
There were 68 condo and townhome units for sale, providing 1.8 months of inventory for the market. There were 28 new listings for sale, and a total of 26 condos were sold. The median sale price for condos was $791k, with a median overbid of 101%. The average time on the market was 21 days.
SFH Single-Family Homes
188 New Listings
149 Sold Listings
2 Months of Inventory
$1.2M Median Sale Price
99.8% Median Sale vs List
30 Avg Days on Market
The data, sourced from InfoSparks and Broker Metrics, includes all single-family homes, condos and townhomes in the California Area above from June 2022 to June 2023. 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 San Francisco | Napa Valley 2023. Each office is independently owned and operated.
28 New Listings
26 Sold Listings
1.8 Months of Inventory
$791K Median Sale Price
101% Median Sale vs List
21 Avg Days on Market
CONDO Condo & Townhomes
Last 12 months,
Last 12 months, year-over-year
SantaCruzCounty Jun2022 Jul2022 Aug2022 Sep2022 Oct2022 Nov2022 Dec2022 Jan2023 Feb2023 Mar2023 Apr2023 May2023 Jun2023 600 400 200 0 Jun2022 Jul2022 Aug2022 Sep2022 Oct2022 Nov2022 Dec2022 Jan2023 Feb2023 Mar2023 Apr2023 May2023 Jun2023 150 100 50 0 JUNE 2022 - JUNE 2023
Homes
Single-Family
year-over-year.
& Townhomes
Condos
LISTINGS FOR SALE SOLD LISTINGS
Median SalesPrice
Single-Family Homes
The median sales price has decreased from $1 3m last June 2022, to $1 2m as of June 2023
Condos & Townhomes
The median sales price has decreased from $800k last June 2022, to $791k as of June 2023.
Overbids
Single-Family Homes
The overbid percentage has decreased from 101 7% last June 2022, to 99 8% a year later
Condos & Townhomes
The overbid percentage has decreased from 102.2% last June 2022, to 101% a year later.
Single-Family Homes
The average time spent on the market went up from 21 days last June 2022, to 30 days as of June 2023
Condos & Townhomes
The average time spent on the market went down from 30 days in June 2022, to 21 days as of June 2023
Back to Table of Contents Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023Jun2023 $1,500,000 $1,000,000 $500,000 $0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 80 60 40 20 0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 125% 100% 75% 50% 25% 0%
AVGDays OntheMarket
East PaloAlto
What's in the East Palo Alto data?
In June, East Palo Alto had 15 single-family homes for sale, providing the market with 1.2 months of inventory. 6 new listings were added, and 6 homes were sold at a median of $1m. The average time on the market was 17 days, with a median overbid of 101.6%.
There were only 4 condo and townhouse units for sale, providing the market with no inventory, and 2 new listings were added in June. No condos were sold in either January or June. The average time on the market for condos was 22 days.
SFH Single-Family Homes
6 New Listings
6 Sold Listings
1.2 Months of Inventory
$1M Median Sale Price
101.6% Median Sale vs List
17 Avg Days on Market
The data, sourced from InfoSparks and Broker Metrics, includes all single-family homes, condos and townhomes in the California Area above from June 2022 to June 2023. 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 San Francisco | Napa Valley 2023. Each office is independently owned and operated.
2 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
EastPaloAlto
JUNE 2022 - JUNE 2023
Single-Family Homes
Last 12 months, year-over-year.
Condos & Townhomes
Last 12 months, year-over-year
Jun2022 Jul2022 Aug2022 Sep2022 Oct2022 Nov2022 Dec2022 Jan2023 Feb2023 Mar2023 Apr2023 May2023 Jun2023 40 30 20 10 0 Jun2022 Jul2022 Aug2022 Sep2022 Oct2022 Nov2022 Dec2022 Jan2023 Feb2023 Mar2023 Apr2023 May2023 Jun2023 8 6 4 2 0
LISTINGS FOR SALE SOLD LISTINGS
Median SalesPrice
Single-Family Homes
The median sales price has decreased from $1 3m last June 2022, to $1m as of June 2023
Condos & Townhomes
The median sales price has remained at $0 since last June.
Overbids
Single-Family Homes
The overbid percentage has decreased from 106 3% last June 2022, to 101 6% a year later
Condos & Townhomes
The overbid percentage has remained at 0% last June.
Single-Family Homes
The average time spent on the market went down from 31 days last June 2022, to 17 days as of June 2023
Condos & Townhomes
The average time spent on the market went down from 8 days in June 2022, to 0 days as of June 2023
Back to Table of Contents Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023Jun2023 $1,500,000 $1,000,000 $500,000 $0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 100 75 50 25 0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 125% 100% 75% 50% 25% 0%
AVGDays OntheMarket
Sunnyvale
What's in the Sunnyvale data?
Sunnyvale had 75 single-family homes for sale in June, with 39 new listings, resulting in 0.6 months of inventory. The median sale price for singlefamily homes was $2.3m, and 54 homes were sold with a median overbid of 107.7% and an average time on the market of 15 days.
There were 35 condo and townhouse units for sale, with 21 new listings, providing the market with 0.4 months of inventory. The median sale price for condos was $1.2m, and 21 condos were sold with a median sale over ask percentage of 104.8%. The average time spent on the market was 14 days.
SFH Single-Family Homes
39 New Listings
54 Sold Listings
0.6 Months of Inventory
$2.3M Median Sale Price
107.7% Median Sale vs List
15 Avg Days on Market
The data, sourced from InfoSparks and Broker Metrics, includes all single-family homes, condos and townhomes in the California Area above from June 2022 to June 2023. 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 San Francisco | Napa Valley 2023. Each office is independently owned and operated.
21 New Listings 0.4 Months of Inventory $1.2 Median S 104.8% Median Sale vs List Avg Days o Sold COND Condo & Townh
nnyvale
JUNE 2022 - JUNE 2023
GS FOR SALE SOLD LISTINGS
mily Homes onths, year-over-year.
Townhomes onths, year-over-year
Aug2022 Sep2022 Oct2022 Nov2022 Dec2022 Jan2023 Feb2023 Mar2023 Apr2023 May2023 Jun2023 Aug2022 Sep2022 Oct2022 Nov2022 Dec2022 Jan2023 Feb2023 Mar2023 Apr2023 May2023 Jun2023
Median SalesPrice
Single-Family Homes
The median sales price has decreased from $2 4m last June 2022, to $2 3m as of June 2023
Condos & Townhomes
The median sales price has remained at $1.2m since last June.
AVGDays OntheMarket
Single-Family Homes
The average time spent on the market has remained at 15 days since last June
Condos & Townhomes
The average time spent on the market went down from 18 days in June 2022, to 14 days as of June 2023
Overbids
Single-Family Homes
The overbid percentage has decreased from 110 1% last June 2022, to 107 7% a year later
Condos & Townhomes
The overbid percentage has decreased from 107.4% last June 2022, to 104.8% a year later.
Back to Table of Contents Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023Jun2023 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 40 30 20 10 0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 125% 100% 75% 50% 25% 0%
SantaClara City
What's in the Santa Clara City data?
In June, Santa Clara had a total number of 60 single-family homes for sale, providing only 0.4 months of inventory. There were 35 new listings and 41 homes sold, with the median sale price at $1 7m and the median overbid at 107 1% There was an average of 14 days on the market.
There were 39 units for sale, providing 0.8 months of inventory. There were 21 new listings and 16 condo units sold, with the median sale price at $948k and the median overbid at 104.6%. The average time on the market also decreased to 18 days
SFH Single-Family Homes
35 New Listings
41 Sold Listings
0.4 Months of Inventory
$1.7M Median Sale Price
107.1% Median Sale vs List
14 Avg Days on Market
The data, sourced from InfoSparks and Broker Metrics, includes all single-family homes, condos and townhomes in the California Area above from June 2022 to June 2023. 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 San Francisco | Napa Valley 2023. Each office is independently owned and operated.
21 New Listings
0.8 Months of Inventory
$948K Median Sale Price
vs
104.6% Median Sale
List 18 Avg Days on Market
Condo & Townhomes
16 Sold Listings CONDO
Single-Family Homes
Last 12 months, year-over-year.
Condos & Townhomes
Last 12 months, year-over-year
Jun2022 Jul2022 Aug2022 Sep2022 Oct2022 Nov2022 Dec2022 Jan2023 Feb2023 Mar2023 Apr2023 May2023 Jun2023 50 00 50 0 Jun2022 Jul2022 Aug2022 Sep2022 Oct2022 Nov2022 Dec2022 Jan2023 Feb2023 Mar2023 Apr2023 May2023 Jun2023 50 00 50 0
SantaClaraCity
JUNE 2022 - JUNE 2023
LISTINGS FOR SALE SOLD LISTINGS
Median SalesPrice
Single-Family Homes
The median sales price has decreased from $1 8m last June 2022, to $1 7m as of June 2023
Condos & Townhomes
The median sales price has increased from $940k last June 2022, to $948k as of June 2023.
AVGDays OntheMarket
Single-Family Homes
The average time spent on the market went down from 18 days last June 2022, to 14 days as of June 2023
Condos & Townhomes
The average time spent on the market went down from 20 days in June 2022, to 18 days as of June 2023
Overbids
Single-Family Homes
The overbid percentage has decreased from 107 7% last June 2022, to 107 1% a year later
Condos & Townhomes
The overbid percentage has decreased from 105% last June 2022, to 104.6% a year later.
Back to Table of Contents Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023Jun2023 $2,000,000 $1,500,000 $1,000,000 $500,000 $0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 60 40 20 0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 125% 100% 75% 50% 25% 0%
Saratoga
What's in the Saratoga data?
In June, Saratoga had 42 single-family homes for sale, providing the market 1.7 months of inventory. There were 16 new listings and a total of 17 homes sold, with a median sale price of $4.1m. The median overbid was 102.1%, and the average time on the market was 18 days.
There were 7 condo and townhome units for sale, providing 0 4 months of inventory to the market There were 4 new listings for sale, and a total of 5 condos sold, with a median sale price of $1.3m. The median overbid was 103.2%, and the average time on the market was 15 days.
SFH Single-Family Homes
16 New Listings
17 Sold Listings
1.7 Months of Inventory
$4.1M Median Sale Price
102.1% Median Sale vs List
18 Avg Days on Market
The data, sourced from InfoSparks and Broker Metrics, includes all single-family homes, condos and townhomes in the California Area above from June 2022 to June 2023. 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 San Francisco | Napa Valley 2023. Each office is independently owned and operated.
0. Months of Inven
103.2% Median Sale vs
New
List
C
OLD LISTINGS
2023 Feb2023 Mar2023 Apr2023 May2023 Jun2023 2023 Feb2023 Mar2023 Apr2023 May2023 Jun2023 y y
Median SalesPrice
Single-Family Homes
The median sales price has increased from $3 7m last June 2022, to $4 1m as of June 2023
Condos & Townhomes
The median sales price has remained at $1.3m since last June.
AVGDays OntheMarket
Single-Family Homes
The average time spent on the market went down from 29 days last June 2022, to 18 days as of June 2023
Condos & Townhomes
The average time spent on the market went up from 14 days in June 2022, to 15 days as of June 2023
Overbids
Single-Family Homes
The overbid percentage has remained at 102 1% since last June
Condos & Townhomes
The overbid percentage has decreased from 107.8% last June 2022, to 103.2% a year later.
Back to Table of Contents Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023Jun2023 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 125 100 75 50 25 0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 125% 100% 75% 50% 25% 0%
: 505 Hamilton Ave Suite #100, Palo Alto, CA 94301 PaloAlto DRE #02204560 raulnogueira@kw.com raulnogueira.kw.com RaulNogueira
