Market Update South Bay Area | October 2022
Santa Clara San Mateo Alameda
In todays market
What's your home actually worth in today's market? That is the question to ask yourself. Our market is incredible diverse and changes rapidly. Values vary not just by neighborhood, but by street. Your home isn't necessarily worth what your neighbors is. And at the end of the day, the current market sets your homes value.
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 homes value.
Why a Real Estate Professional Is Key When Selling Your House With today’s real estate market moving as fast as it is, working with a real estate professional is more essential than ever. They have the skills, experience, and expertise it takes to navigate the highly detailed and involved process of selling a home. That may be why the percentage of people who list their houses on their own, known as a FSBO or For Sale By Owner, has reached its lowest point since 1985.
01 02 03
They Know What Buyers Want To See
They Help Maximize Your Buyer Pool
They Understand the Fine Print
04
They’re Trained Negotiators
05
They Know How To Set the Right Price for Your House
There’s a lot that goes into selling your house. Instead of tackling it alone, reach out to a trusted real estate advisor to make sure you have an expert on your side throughout the entire process.
Santa
Clara
What's in the Santa Clara data? Santa Clara’s median sold price for single-family homes decreased marginally compared to last month, $1.65 Million in September to $1.58 Million in October. The number of homes sold was 684 while the number of new listings was 757. The median price for condos/ townhouses is at $891k with 326 new listings and 249 homes sold. When looking at recent market changes, it is important to consider how overheated the market was in 2021 and early 2022. Many year over year comparisons are distorted by the unusual conditions that prevailed them. The economy and real estate market are still in a period of adjustment.
757 New Listings
684 Sold Listings
1.6 Months of Inventory
$1.58M Median Sale Price
99.9% Median Sale vs List Price
28 Avg Days on Market
SINGLE FAMILY HOMES
This data is sourced from MLS for the period 010/2021 thru 10/2022. Data may include preliminary data and may vary from the time this data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to Keller Williams Realty Thrive. 408.850.6900 Each Office is independently owned and operated.
326 New Listings
249 Sold Listings
1.9 Months of Inventory
$891K Median Sale Price
100% Median Sale vs List Price
Santa Clara at a glance
CONDOS & TOWNHOMES
26 Avg Days on Market
CONDOS
Last 12 months, year-over-year 20 22
20 22
20 22
O ct 20 22
Se pt 20 22
Au g
Ju l2 02 2
Ju ne
M ay
Ap r2 02 2
M ar 20 22
20 22
20 22
20 21
20 21
20 22
20 22
20 21
20 21
20 22
20 22
20 22
20 22
O ct 20 22
Se pt 20 22
Au g
Ju ly
Ju n
M ay
Ap r2 02 2
M ar 20 22
Fe b
Ja n
De c
N ov
O ct 20 21
SALE VS
Fe b
Ja n
De c
N ov
O ct 20 21
LISTINGS FOR SOLD LISTINGS
SANTA CLARA | OCTOBER 2021 - OCTOBER 2022
1,500
1,000
500
0
SINGLE FAMILY HOMES
Last 12 months, year-over-year
750
500
250
0
SANTA CLARA | OCTOBER 2022
$2,000,000
Single Family Homes The median sales price is down from $1.62 Million in Oct. 2021 to $1.58 Million in Oct. 2022
$1,000,000
Condos & Townhomes
$500,000
The median sales price has decreased from $925k last Oct. 2021 to $891k in Oct. 2022
$0
O ct 20 21 N ov 20 21 De c 20 21 Ja n 20 22 Fe b 20 22 M ar 20 22 Ap r2 02 2 M ay 20 22 Ju n 20 22 Ju ly 20 22 Au g 20 22 Se pt 20 22 O ct 20 22
MEDIAN SALES PRICE
$1,500,000
30
The average days on market has gone up from 14 days last Oct. 2021 to 28 days in Sept. 2022.
20
10
Condos & Townhomes
Ap r2 02 2 M ay 20 22 Ju n 20 22 Ju ly 20 22 Au g 20 22 Se pt 20 22 O ct 20 22
20 22
20 22
M ar ch
Fe b
20 22 Ja n
N ov
De c
20 21
20 21
0
O ct 20 21
AVG DAYS ON MARKET
Single Family Homes
The average days on market last Oct. 2021 was 21 days and has increased to 26 days in Sept. 2022.
125%
Single Family Homes 100%
The overbid percentage has decreased from 109.2% in Oct. 2021 to now 99.9% in Oct. 2022.
75%
50%
25%
Ap r2 02 2 M ay 20 22 Ju ne 20 22 Ju ly 20 22 Au g 20 22 Se pt 20 22 O ct 20 22
20 22
M ar ch
20 22
Fe b
20 22 Ja n
20 21
De c
N ov
20 21
0%
O ct 20 21
OVERBIDS
Condos & Townhomes The overbid percentage has gone down from 103.7% last Oct. 2021 to 100% a year later in Oct 2022
San
Mateo
What's in the San Mateo data? San Mateo's median sold price for single-family homes increased slightly month-to-month from $1.75 Million in September to $1.821 Million in October. The number of homes sold was 295 while the number of new listings was 402. The median price for condos/ townhouses was $931k with 95 new listings and 99 homes sold. When looking at recent market changes, it is important to consider how overheated the market was in 2021 and early 2022. Many year over year comparisons are distorted by the unusual conditions that prevailed them. The economy and real estate market are still in a period of adjustment.
402 New Listings
295 Sold Listings
2.3 Months of Inventory
$1.82M Median Sale Price
100.4% Median Sale vs List Price
27 Avg Days on Market
SINGLE FAMILY HOMES
This data is sourced from MLS for the period 010/2021 thru 10/2022. Data may include preliminary data and may vary from the time this data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to Keller Williams Realty Thrive. 408.850.6900 Each Office is independently owned and operated.
95 New Listings
99 Sold Listings
2.3 Months of Inventory
$931K Median Sale Price
99.6% Median Sale vs List Price
San Mateo at a glance
CONDOS & TOWNHOMES
33 Avg Days on Market
CONDOS
Last 12 months, year-over-year 20 22
20 22
20 22
20 22
O ct 20 22
Se pt 20 22
Au g
Ju ly
Ju n
M ay
Ap r2 02 2
M ar 20 22
20 22
20 22
20 21
20 21
20 22
20 22
20 21
20 21
20 22
20 22
20 22
20 22
O ct 20 22
Se pt 20 22
Au g
Ju ly
Ju ne
M ay
Ap r2 02 2
M ar 20 22
Fe b
Ja n
De c
N ov
O ct 20 21
SALE VS
Fe b
Ja n
De c
N ov
O ct 20 21
LISTINGS FOR SOLD LISTINGS
SAN MATEO OCTOBER 2021 - OCTOBER 2022
750
500
250
0
SINGLE FAMILY HOMES
Last 12 months, year-over-year
300
200
100
0
SAN MATEO COUNTY | OCTOBER 2022
$2,500,000
Single Family Homes The median sales price is down from $1.9 Million from Oct. 2021 to $1.82 Million in Oct. 2022.
$1,500,000
$1,000,000
Condos & Townhomes The median sales price has increased from $897k last Oct. 2021 to $931k in Oct. 2022.
$500,000
$0
O ct 20 21 N ov 20 21 De c 20 21 Ja n 20 22 Fe b 20 22 M ar 20 22 Ap r2 02 2 M ay 20 22 Ju n 20 22 Ju ly 20 22 Au g 20 22 Se pt 20 22 O ct 20 22
MEDIAN SALES PRICE
$2,000,000
40
Single Family Homes The average days on market is up from 18 days last Oct. 2021 to 27 days in Oct. 2022.
20
Condos & Townhomes
10
Ap r2 02 2 M ay 20 22 Ju n 20 22 Ju ly 20 22 Au g 20 22 Se pt 20 22 O ct 20 22
20 22
20 22
M ar ch
Fe b
20 22 Ja n
N ov
De c
20 21
20 21
0
O ct 20 21
AVG DAYS ON MARKET
30
The average days on market last Oct. 2021 was 22 days and now up to an average of 33 days in Oct. 2022.
125%
Single Family Homes 100%
The overbid percentage has gone down from 108% last Oct. 2021 to now 100.4% in Oct. 2022
75%
50%
The overbid percentage has gone down from 103% last Oct. 2021 to 99.6% a year later.
25%
Ap r2 02 2 M ay 20 22 Ju n 20 22 Ju ly 20 22 Au g 20 22 Se pt 20 22 O ct 20 22
M ar 20 22
20 22
Fe b
20 22 Ja n
20 21
De c
N ov
20 21
0%
O ct 20 21
OVERBIDS
Condos & Townhomes
Alameda
What's in the Alameda data? Alameda’s median sold price for single-family homes increased slightly month-to-month from $1.200 Million in September to $1.206 Million in October. The number of homes sold was 689 while the number of new listings was 851. The median price for condos/ townhouses was $706k with 269 new listings and 216 homes sold. When looking at recent market changes, it is important to consider how overheated the market was in 2021 and early 2022. Many year over year comparisons are distorted by the unusual conditions that prevailed them. The economy and real estate market are still in a period of adjustment.
851 New Listings
689 Sold Listings
1.9 Months of Inventory
$1.2M Median Sale Price
104.2% Median Sale vs List Price
28 Avg Days on Market
SINGLE FAMILY HOMES
This data is sourced from MLS for the period 010/2021 thru 10/2022. Data may include preliminary data and may vary from the time this data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to Keller Williams Realty Thrive. 408.850.6900 Each Office is independently owned and operated.
269 New Listings
216 Sold Listings
2.3 Months of Inventory
$706K Median Sale Price
99.7% Median Sale vs List Price
Alameda
at a glance
CONDOS & TOWNHOMES
32 Avg Days on Market
CONDOS
Last 12 months, year-over-year 20 22
20 22
20 22
20 22
20 22
O ct 20 22
Se pt 20 22
Au g
Ju ly
Ju n
M ay
Ap r2 02 2
M ar ch
20 22
20 22
20 21
20 21
20 22
20 22
20 22
20 21
20 21
20 22
20 22
20 22
20 22
O ct 20 22
Se pt 20 22
Au g
Ju ly
Ju n
M ay
Ap r2 02 2
M ar ch
Fe b
Ja n
De c
N ov
O ct 20 21
SALE VS
Fe b
Ja n
De c
N ov
O ct 20 21
LISTINGS FOR SOLD LISTINGS
ALAMEDA OCTOBER 2021 - OCTOBER 2022
2,000
1,500
1,000
500
0
SINGLE FAMILY HOMES
Last 12 months, year-over-year
750
500
250
0
ALAMEDA COUNTY | OCTOBER 2022
$1,500,000
The median sales price has decreased from $1.25 Million in Oct. 2021 to $1.2 Million in Oct. 2022.
$1,000,000
$500,000
Condos & Townhomes
$0
O ct 20 21 N ov 20 21 De c 20 21 Ja n 20 22 Fe b 20 22 M ar ch 20 22 Ap r2 02 2 M ay 20 22 Ju n 20 22 Ju ly 20 22 Au g 20 22 Se pt 20 22 O ct 20 22
MEDIAN SALES PRICE
Single Family Homes
The median sales price has slightly decreased from $741k last Oct. 2021 to $706k in Oct. 2022.
40
Single Family Homes The average days on market was 16 days last Oct. 2021 and is now up to 28 days in Oct. 2022.
20
Condos & Townhomes
10
The average days on market last Oct. 2021 was 20 days and is now up to 32 days in Oct. 2022. Ap r2 02 2 M ay 20 22 Ju n 20 22 Ju ly 20 22 Au g 20 22 Se pt 20 22 O ct 20 22
20 22
20 22
M ar ch
Fe b
20 22 Ja n
N ov
De c
20 21
20 21
0
O ct 20 21
AVG DAYS ON MARKET
30
125%
Single Family Homes 100%
The overbid percentage is down from 112.8% last Oct. 2021 to now 104% in Oct 2022
75%
50%
25%
Ap r2 02 2 M ay 20 22 Ju n 20 22 Ju ly 20 22 Au g 20 22 Se pt 20 22 O ct 20 22
20 22
M ar ch
20 22
Fe b
20 22 Ja n
20 21
De c
N ov
20 21
0%
O ct 20 21
OVERBIDS
Condos & Townhomes The overbid percentage has gone down from 104.8% last Oct. 2021 to 99.7% a year later in Oct. 2022
This data is sourced from MLS for the period 010/2021 thru 10/2022. Data may include preliminary data and may vary from the time this data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to Keller Williams Realty Thrive. 408.850.6900 Each Office is independently owned and operated.
