Copyright by KW Advisors 2022
MarketReport
Market Report for the Palo Alto Bay area September 2022.
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Redwood City
Menlo Park
Portola Valley
Palo Alto area
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Jump to Palo Alto Report Palo Alto
Jump to San Mateo County San Mateo County
Atherton
Jump to Atherton Report
Los Altos
San Jose
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Santa Clara County
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So, do you know what your home is worth in today's market?
What’syourhome reallyworthin today’smarket?
Icanhelp...
That’s really the question you should be asking Ouryourself.market is incredibly diverse and changes 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.
Contact me for a confidential, no obligation, assessment of your home's value.
IfYou’reSelling YourHouseThis Summer,Hiringa ProIsCritical
SEPTEMBER 2022
It can be tempting, especially with how hot the housing market has been over the past two years, to consider selling your home on your own. But today’s market is at a turning point, making it more essential than ever to work with a real estate professional.
Not only will a trusted real estate advisor keep you updated and help you make the best decisions based on current market trends, but they’re also experts in managing the many aspects of selling your house.
Here are five key reasons why working with a real estate professional makes sense today.
In Palo Alto, the median sold price for single-family homes in August decreased month-over-month to $3.4 million. The number of homes sold decreased to 29, and the number of new listings also decreased to 41. The number of condo & townhomes sales increased slightly to $1.6million month-over-month with 9 units sold and 13 new listings. Buyers are also still being aggressive with their offer prices, with the median offer price continuing to be about 100%. There is no doubt that higher interest rates have impacted demand for homes, especially in June when rates had reached their apex. But low inventory continues to be a factor as well. A balanced market is considered representative of 6 month’s supply of homes. When factoring in the amount of completed homes, the month’s supply of homes available was really less than a month at 25 days. This ongoing imbalance of supply and demand should continue to be supportive of home prices.
PaloAlto
What's in the Palo Alto data?
41 New Listings 1.7 Months of Inventory $3.4M Median Sale Price 100.8%
Avg Days on Market
Median Sale vs List
31 29 Sold Listings SFH Single Family Homes
The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from August 2021 to August 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.
13 New Listings 1.1 Months of Inventory $1.6M Median Sale Price 100.4% Median Sale vs List 34 Avg Days on Market 9 Sold Listings CONDO Condo & Townhomes
y y
The average days on market has increased from 16 days of the same month last year, to 31days this year.
125% 100% 75% 50% 25% 0% Median SalesPrice
75 50 25 0 August2021September2021October2021November2021December2021January2022
The overbid percentage decreased from 102 50% of August 2021, to 100 40% a year later
September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022
$5,000,000
Single Family Homes
The overbid percentage has decreased from 102.70% last year's August, to 100.80% this year.
$4,000,000 $3,000,000 $2,000,000 $1,000,000
Single Family Homes
Condos & Townhomes
The median sales price has slightly decreased from $3 47m last year's August to $3 40m this year
August2021 July2022August2022 February2022March2022April2022May2022June2022 July2022August2022
Overbids
Single Family Homes
Condos & Townhomes
Condos & Townhomes
The average days on market has gone up from last year's August with 24 days, to 34 days this year
The median sales price has increased from $1 5m last August 2021 to $1 6m by August 2022.
August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022August2022
AVGDays OntheMarket
$0
What's in the Redwood City data?
Redwood City
In Redwood City, the median sold price for single-family homes in August slightly increased month-over-month to $2.2 million. The number of homes sold decreased to 35, and the number of new listings also decreased to 41. The number of condo & townhomes sales increased slightly to $1.4 million month-over-month with 19 units sold and 19 new listings. Buyers are also still being aggressive with their offer prices, with the median offer price continuing to be about 100%. There is no doubt that higher interest rates have impacted demand for homes, especially in June when rates had reached their apex. But low inventory continues to be a factor as well. A balanced market is considered representative of 6 month’s supply of homes. When factoring in the amount of completed homes, the month’s supply of homes available was really less than a month at 25 days. This ongoing imbalance of supply and demand should continue to be supportive of home prices.
41 New Listings 1.1 Months of Inventory $2.2M Median Sale Price 97.9% Median Sale vs List 25 35 Sold Listings SFH Single Family Homes
The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from August 2021 to August 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. Days on
Avg
Market
19 New Listings 0.9 Months of Inventory $1.4M Median Sale Price 99.6% Median Sale vs List 11 Avg Days on Market 19 Sold Listings CONDO Condo & Townhomes
ber2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022 ber2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022 dwoodCity AUGUST 2021 - AUGUST 2022 FOR SALE VS SOLD LISTINGS ly Homes nths, year over year. ownhomes nths, year over year
Single Family Homes
August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022August2022
The median sales price has increased from $1 2m last August 2021 to $1 4m by August 2022.
The overbid percentage has decreased from 105% of August 2021, to 99 60% a year later
Condos & Townhomes
125% 100% 75% 50% 25% 0% Median SalesPrice
Single Family Homes
The average days on market has gone down from last year's August with 13 days, to 11 days this year
Condos & Townhomes
The median sales price has increased from $1 8m last year's August to $2 2m this year
Condos & Townhomes
$0 August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022
Single Family Homes
$3,000,000
Overbids
AVGDays OntheMarket
The overbid percentage has decreased from 104.10% last year's August, to 97.90% this year.
50 40 30 20 10 0 August2021September2021October2021November2021December2021
The average days on market has increased from 17 days of the same month last year, to 25 days this year.
$2,000,000 $1,000,000 July2022August2022 January2022February2022March2022April2022May2022June2022 July2022August2022
What's in the Portola Valley data?
Portola Valley
In Portola Valley, the median sold price for single-family homes in August decreased month-over-month to $3.4 million. The number of homes sold decreased to 2 and the number of new listings increased to 10. Buyers are also still being aggressive with their offer prices, with the median offer price continuing to be about 100%. There is no doubt that higher interest rates have impacted demand for homes, especially in June when rates had reached their apex. But low inventory continues to be a factor as well. A balanced market is considered representative of 6 month’s supply of homes. When factoring in the amount of completed homes, the month’s supply of homes available was really less than a month at 25 days. This ongoing imbalance of supply and demand should continue to be supportive of home prices.
The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from August 2021 to August 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. Days on Market
Avg
10 New Listings 1.9 Months of Inventory $3.4M Median Sale Price 95.3% Median Sale vs List 36 2 Sold Listings SFH Single Family Homes
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
ingle Family Homes ast 12 months, year over year.
ISTINGS FOR SALE VS SOLD LISTINGS
AUGUST 2021 - AUGUST 2022
PortolaValley
August2021September2021October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022 40 30 20 10 0 August2021September2021October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022 0 5 0 5 0
ondos & Townhomes ast 12 months, year over year
Single Family Homes
Single Family Homes
$7,500,000 $5,000,000 $2,500,000 February2022March2022April2022May2022June2022 July2022August2022
$0 August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022August2022 75 50 25 0 August2021September2021October2021November2021December2021January2022
125% 100% 75% 50% 25% 0% Median SalesPrice
Condos & Townhomes
Single Family Homes
Overbids
AVGDays OntheMarket
The overbid percentage is same from last year's August of 0% to this year's 0%
The overbid percentage has decreased from 113% of last year's August, to 95.30% this year.
The median sales decreased from $4m of last year's August, to $3 4m this year
The median sales price record same from last year's August having $0m to $0m this year
The average days on market is almost the same from August last year's 0 days to 0 days this year
Condos & Townhomes
August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022August2022
The average days on market has significantly increased from 22 days last year's August, to 36 days a year later.
Condos & Townhomes
In Menlo Park, the median sold price for single-family homes in August slightly decreased month-over-month to $2.7 million. The number of homes sold decreased to 26, and the number of new listings also decreased to 25. The number of condo & townhomes sales decreased slightly to $920 thousand monthover-month with 3 units sold and 3 new listings. Buyers are also still being aggressive with their offer prices, with the median offer price continuing to be about 100%. There is no doubt that higher interest rates have impacted demand for homes, especially in June when rates had reached their apex. But low inventory continues to be a factor as well. A balanced market is considered representative of 6 month’s supply of homes. When factoring in the amount of completed homes, the month’s supply of homes available was really less than a month at 25 days. This ongoing imbalance of supply and demand should continue to be supportive of home prices.
What's in the Menlo Park data?
Menlo Park
M
The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from August 2021 to August 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
3 New Listings 5.5 Months of Inventory $920K Median Sale Price 96.2% Median Sale vs List 22 Avg Days on Market 3 Sold Listings CONDO Condo & Townhomes
y y
Single Family Homes
August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022August2022
The overbid percentage has decreased from 101.60% record last year's August, to 95.80% this year.
The average days on the market has increased from 19 days of August 2021 to 29 days this August 2022.
The overbid percentage has slightly decreased from 97% last year's August, to 96 20% this year
Condos & Townhomes
Overbids
AVGDays OntheMarket
Condos & Townhomes
125% 100% 75% 50% 25% 0% Median SalesPrice
Condos & Townhomes
$5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 August2022
The average days on the market has decreased from 25 days of August 2021 to 22 days this August 2022
The median sales price has decreased from $2 9m last year's August to $2 7m this year
$0 August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022August2022 50 40 30 20 10 0 August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022 July2022
Single Family Homes
Single Family Homes
The median sales price slightly decreased from $1 7m last August 2021 to $920k a year later.
What's in the Atherton data?
In Atherton, the median sold price for single-family homes in August decreased month-over-month to $7 million. The number of homes sold in August 2022 was 5, similar to last year, while the number of new listings is also the same for August this year and last year at 8. The number of condo & townhouses sales was static month-over-month at $0, with 0 units sold and 0 new listings. Buyers are also still being aggressive with their offer prices, with the median offer price continuing to be about 100.80%. There is no doubt that higher interest rates have impacted demand for homes. But low inventory continues to be a factor as well. A balanced market is considered representative of 6 month’s supply of homes. When factoring in the number of completed homes, the month’s supply of homes available was less than a month at 25 days. This ongoing imbalance of supply and demand should continue to be supportive of home prices.
Atherton
Avg
The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from August 2021 to August 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. Days on Market
8 New Listings 4.6 Months of Inventory $7M Median Sale Price 91.3% Median Sale vs List 59 5 Sold Listings SFH Single Family Homes
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
Single Family Homes
Last 12 months, year over year
Condos & Townhomes
August2021September2021October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022 60 40 20 0 August2021September2021October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022 2 15 1 05 0 Atherton AUGUST 2021 - AUGUST 2022 LISTINGS FOR SALE VS SOLD LISTINGS
Last 12 months, year over year.
Overbids
Condos & Townhomes
$20,000,000
The average days on market stays at 0 days for August 2021 and August 2022
AVGDays OntheMarket
$15,000,000 $10,000,000 $5,000,000
Condos & Townhomes
Single Family Homes
$0 August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022August2022 125 100 75 50 25 0 August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022 July2022August2022 125% 100% 75% 50% 25% 0% Median SalesPrice
The average days on market increased from 40 days last August 2021 to 59 days by August 2022.
The median sales price stays at $0 for August 2021 and August 2022
The median sales price decreased from $7 8m in August 2021 to $7m in August 2022
August2021 October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022August2022
Condos & Townhomes
The overbid percentage decreased from 92.90% last August 2021 to 91.30% a year later.
Single Family Homes
The overbid percentage stays at 0% for August 2021 and August 2022
September2021
Single Family Homes
In Los Altos, the median sold price for single-family homes in August decreased month-over-month to $3.8 million. The number of homes sold decreased to 23, and the number of new listings also decreased to 26. The number of condo & townhomes sales decreased month-over-month to $1.2 million, with 4 units sold and 9 new listings. Buyers are also still being aggressive with their offer prices, with the median offer price continuing to be about 100%. There is no doubt that higher interest rates have impacted demand for homes, especially in June when rates had reached their apex. But low inventory continues to be a factor as well. A balanced market is considered representative of 6 month’s supply of homes. When factoring in the amount of completed homes, the month’s supply of homes available was really less than a month at 25 days. This ongoing imbalance of supply and demand should continue to be supportive of home prices.
LosAltos
What's in the Los Altos data?
26 New Listings 0.7 Months of Inventory $3.8M Median Sale Price 97.8% Median Sale vs List 24 23 Sold Listings SFH Single Family Homes
Avg
Market
The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from August 2021 to August 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. Days on
9 New Listings 4 Months of Inventory $1.2M Median Sale Price 97.8% Median Sale vs List 25 Avg Days on Market 4 Sold Listings CONDO Condo & Townhomes
2 July2022August2022 2 July2022August2022 S y y
$5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000
The overbid percentage slightly decreased from 98% last August 2021 to 97 80% a year later
The average days on market increased from 15 days last August 2021 to 24 days by August 2022
Condos & Townhomes
Overbids
The overbid percentage decreased from 110.30% last August 2021 to 97.80% a year later.
Condos & Townhomes
Single Family Homes
Single Family Homes
Condos & Townhomes
$0 August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022August2022 60 40 20 0 August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022 July2022August2022 125% 100% 75% 50% 25% 0% Median SalesPrice
The median sales price slightly decreased from $3 882m in August 2021 to $3 8m in August 2022
The median sales price decreased from $1.5m in August 2021 and $1.2m in August 2022.
The average days on market decreased from 29 days in August 2021 to 25 days this year
Single Family Homes
August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022August2022
AVGDays OntheMarket
What's in the San Jose data?
In San Jose, the median sold price for single-family homes in August decreased month-over-month to $1.4 million. The number of homes sold decreased to 367, and the number of new listings also decreased to 403. The number of condo & townhomes sales decreased month-over-month to $748 thousand, with 159 units sold and 184 new listings. Buyers are also still being aggressive with their offer prices, with the median offer price continuing to be about 100%. There is no doubt that higher interest rates have impacted demand for homes, especially in June when rates had reached their apex. But low inventory continues to be a factor as well. A balanced market is considered representative of 6 month’s supply of homes. When factoring in the amount of completed homes, the month’s supply of homes available was less than a month at 25 days. This ongoing imbalance of supply and demand should continue to be supportive of home prices.
SanJose
The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from August 2021 to August 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. on
403 New Listings 1.1 Months of Inventory $1.4M Median Sale Price 96.3% Median Sale vs List 29 367 Sold Listings SFH Single Family Homes
Avg Days
Market
184 New Listings 1.1 Months of Inventory $748K Median Sale Price 97.4% Median Sale vs List 28 Avg Days on Market 159 Sold Listings CONDO Condo & Townhomes
eptember2021October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022 eptember2021October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022 anJose AUGUST 2021 - AUGUST 2022 INGS FOR SALE VS SOLD LISTINGS e Family Homes 12 months, year over year. os & Townhomes 12 months, year over year
Condos & Townhomes
The median sales price slightly decreased from $1 449m in August 2021 to $1 4m in August 2022
AVGDays OntheMarket
Condos & Townhomes
The average days on market increased from 16 days last August 2021 to 29 days by August 2022.
Overbids
The overbid percentage slightly decreased from 104% last August 2021 to 97 40% a year later
August2021 October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022August2022
$0 August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022August2022 30 20 10 0 August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022 July2022
$2,000,000
Single Family Homes
The average days on market increased from 17 days in August 2021 to 28 days this year
September2021
$1,500,000 $1,000,000 $500,000 August2022
Single Family Homes
The overbid percentage decreased from 107.20% last August 2021 to 96.30% a year later.
The median sales price decreased from $780k in August 2021 and $748k in August 2022.
Condos & Townhomes
125% 100% 75% 50% 25% 0% Median SalesPrice
Single Family Homes
What's in the Mountain View data? In Mountain View, the median sold price for single-family homes in August increased month-over-month to $2.8 million. The number of homes sold decreased to 18, and the number of new listings also decreased to 20. The number of condo & townhomes sales decreased monthover-month to $1.2 million, with 23 units sold and 19 new listings. Buyers are also still being aggressive with their offer prices, with the median offer price continuing to be about 100%. There is no doubt that higher interest rates have impacted demand for homes, especially in June when rates had reached their apex. But low inventory continues to be a factor as well. A balanced market is considered representative of 6 month’s supply of homes. When factoring in the amount of completed homes, the month’s supply of homes available was less than a month at 25 days. This ongoing imbalance of supply and demand should continue to be supportive of home prices.
Mountain View
Sold Listings Homes
Avg Days on Market
ly
The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from August 2021 to August 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
18
y $2.8M Median Sale Price 18
19 New Listings 1 Months of Inventory $1.2M Median Sale Price 97.5% Median Sale vs List 28 Avg Days on Market 23 Sold Listings CONDO Condo & Townhomes
ptember2021October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022 mber2021October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022 MountainView AUGUST 2021 - AUGUST 2022 NGS FOR SALE VS SOLD LISTINGS Family Homes 2 months, year over year. s & Townhomes 2 months, year over year
Single Family Homes
Overbids
The median sales price has gone up from $2 7m last August 2021, to $2 8m by August 2022
$2,000,000 $1,000,000
Condos & Townhomes
$4,000,000
AVGDays OntheMarket
The average days on market from August 2021 was 16 days up to 18 days this year.
September2021
The average days on market significantly decreased from 30 days last year's August, to 28 days this year
Condos & Townhomes
$3,000,000
Condos & Townhomes
$0 August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022August2022 40 30 20 10 0 August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022 July2022August2022 125% 100% 75% 50% 25% 0% Median SalesPrice
Single Family Homes
August2021 October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022August2022
Single Family Homes
The median sales price has slightly decreased from $0 of August 2021 to $0 by August 2022.
The overbid percentage has slightly decreased from 100 4% last year to 97 5% this year's August
The overbid percentage has increased from 108% last year to 99.2% this year's August.
In San Mateo County, the median sold price for singlefamily homes in August decreased month-over-month to $1.9 million. The number of homes sold decreased to 288, and the number of new listings also decreased to 341. The number of condo & townhomes sales decreased monthover-month to $918 thousand, with 105 units sold and 127 new listings. Buyers are also still being aggressive with their offer prices, with the median offer price continuing to be about 100%. There is no doubt that higher interest rates have impacted demand for homes, especially in June when rates had reached their apex. But low inventory continues to be a factor as well. A balanced market is considered representative of 6 month’s supply of homes. When factoring in the amount of completed homes, the month’s supply of homes available was less than a month at 25 days. This ongoing imbalance of supply and demand should continue to be supportive of home prices.
What's in the San Mateo County data?
SanMateo County
The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from August 2021 to August 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
M e
ket
CONDO Condo & Townhomes 127 New Listings 2.2 Months of Inventory $918M Median Sale Price 99.6% Median Sale vs List 29 Avg Days on Market 105 Sold Listings
August2021September2021October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022 1500 1000 500 0 August2021September2021October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022 500 400 300 200 100 0 LISTINGS FOR SALE VS SOLD LISTINGS SanMateo AUGUST 2021 - AUGUST 2022
Single Family
Condos & Townhomes
Last 12 months, year over year.
Homes
Last 12 months, year over year
Single Family Homes
The median sales price has remained the same from $1 9m last August 2021, to $1 9m a year later
Overbids
$0 August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022August2022 40 30 20 10 0 August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022 July2022August2022 125% 100% 75% 50% 25% 0% Median SalesPrice
The median sales price has slightly decreased from $1m last year's August to $918k this year.
Single Family Homes
Condos & Townhomes
The overbid percentage has slightly decreased from 106.4% last year's August, to 97.2% this year.
The overbid percentage has slightly gone down from 103% last year's August, to 99 6% this year
AVGDays OntheMarket
Single Family Homes
Condos & Townhomes
September2021
Condos & Townhomes
The average days on market increased from 17 days last year's August, to 31 days this year.
August2021 October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022August2022
$2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000
From 20 days average days on the market record last year, it has slightly increased to 29 days after a year
What's in the Santa Clara County data?
In Santa Clara County, the median sold price for singlefamily homes in August decreased month-over-month to $1.6 million. The number of homes sold decreased to 749, and the number of new listings also decreased to 796. The number of condo & townhomes sales increased monthover-month to $899 thousand, with 288 units sold and 327 new listings. Buyers are also still being aggressive with their offer prices, with the median offer price continuing to be about 100%. There is no doubt that higher interest rates have impacted demand for homes, especially in June when rates had reached their apex. But low inventory continues to be a factor as well. A balanced market is considered representative of 6 month’s supply of homes. When factoring in the amount of completed homes, the month’s supply of homes available was less than a month at 25 days. This ongoing imbalance of supply and demand should continue to be supportive of home prices.
SantaClara County
Avg
The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from August 2021 to August 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. Days on Market
796 New Listings 1.1 Months of Inventory $1.6M Median Sale Price 96.7% Median Sale vs List 29 749 Sold Listings SFH Single Family Homes
CONDO Condo & Townhomes 337 New Listings 1.1 Months of Inventory $899K Median Sale Price 98% Median Sale vs List 29 Avg Days on Market 288 Sold Listings
August2021September2021October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022 4000 3,000 2000 1,000 0 August2021September2021October2021November2021December2021January2022February2022 March2022 April2022 May2022 June2022 July2022August2022 1,500 1,000 500 0 SantaClara AUGUST 2021 - AUGUST 2022 LISTINGS FOR SALE VS SOLD LISTINGS
Single
Last months, year over
Condos
Last 12 months, year over year.
12
year
& Townhomes
Family Homes
The median sales price increased from $889k last year's August, to $899k this year.
Condos & Townhomes
$500,000 $0 August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022August2022 30 20 10 0 August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022 July2022August2022 125% 100% 75% 50% 25% 0% Median SalesPrice
$2,000,000
August2021September2021October2021November2021December2021January2022February2022March2022April2022May2022June2022July2022August2022
The overbid percentage is down from 107.2% last August 2021 to 96.7% a year later.
Condos & Townhomes
Single Family Homes
The average days on market has significantly increased from 17 days last August 2021, to 29 days this year's August.
Single Family Homes
Single Family Homes
Overbids
Condos & Townhomes
The median sales price has remained the same from $1 6m last year's August, to $1 6m this year
AVGDays OntheMarket
The average days on market has gone up again from 19 days last year's August, to 29 days this year
$1,500,000 $1,000,000
The overbid percentage has slightly decreased from 103 1% last August 2021, to 0% this year
505 Hamilton Ave Suite #100, Palo Alto, CA 94301 PaloAlto :
