Page 1

Q1

2017 2018 2,700 2,585 4%t $915,000 $1,224,000 s 34%

# of Sales Median Price

2017 2018 30 16 47%t 1.2 0.8 33%t

Avg CDOM MOI

The Santa Clara County spring real estate market remains ultra-hot. Multiple offers abound at almost all price points in virtually every geographic marketplace with sellers receiving an astounding average of 111% of their asking price. The single family median sales price now stands at $1,224,000! The available-to-purchase inventory level is currently 26% below this same point last year while the pending sales are 4% below the same period last year. Clearly, the demand for homes continues to exhaust all available supply. All of this translates into a red-hot seller’s market that is continuing to present challenges for all buyers. The only relief in sight for buyers may be the fall market, which is historically slower. Real estate in Santa Clara County is truly a very hot commodity!

CAMPBELL

CUPERTINO

Q1 2017

Q1 2018

% Change

78

69

-12%

# of Sales

1,169

1,400

20%

Median Price ($000)

Avg CDOM

27

8

-70%

Months of Inventory

0.8

0.7

-13%

# of Sales Median Price ($000)

Q1 2017

Q1 2018

% Change

64

67

5%

1,821

2,230

22%

Avg CDOM

16

14

-13%

Months of Inventory

1.2

0.6

-50%

Q1 2017

Q1 2018

% Change

68

64

-6%

2,810

3,400

21%

GILROY

LOS ALTOS

Q1 2017

Q1 2018

% Change

# of Sales

118

116

-2%

# of Sales

Median Price ($000)

670

782

17%

Median Price ($000)

Avg CDOM

58

25

-57%

Avg CDOM

20

9

-55%

Months of Inventory

2.0

1.3

-35%

Months of Inventory

1.3

0.5

-62%

Q1 2017

Q1 2018

% Change

97

109

12%

1,700

1,825

7%

LOS ALTOS HILLS

LOS GATOS

Q1 2017

Q1 2018

% Change

15

13

-13%

# of Sales

4,015

5,500

37%

Median Price ($000)

Avg CDOM

37

80

116%

Avg CDOM

36

27

-25%

Months of Inventory

5.0

4.2

-16%

Months of Inventory

1.8

1.7

-6%

# of Sales Median Price ($000)


MONTE SERENO

MORGAN HILL

Q1 2017

Q1 2018

% Change

8

6

-25%

2,415

3,990

Avg CDOM

33

Months of Inventory

3.4

# of Sales Median Price ($000)

Q1 2017

Q1 2018

% Change

# of Sales

113

111

-2%

65%

Median Price ($000)

837

875

5%

28

-15%

Avg CDOM

48

27

-44%

3.5

3%

Months of Inventory

1.7

1.2

-29%

Q1 2017

Q1 2018

% Change

74

88

19%

2,477

3,100

25%

MOUNTAIN VIEW

PALO ALTO

Q1 2017

Q1 2018

% Change

101

101

0%

# of Sales

1,420

1,680

18%

Median Price ($000)

Avg CDOM

18

10

-44%

Avg CDOM

23

11

-52%

Months of Inventory

0.7

0.5

-29%

Months of Inventory

1.9

1.1

-42%

Q1 2017

Q1 2018

% Change

# of Sales Median Price ($000)

SAN JOSE

SANTA CLARA

Q1 2017

Q1 2018

% Change

1,533

1,370

-11%

# of Sales

146

175

20%

810

1,050

30%

Median Price ($000)

989

1,430

45%

Avg CDOM

31

15

-52%

Avg CDOM

19

11

-42%

Months of Inventory

1.0

0.6

-40%

Months of Inventory

1.1

0.5

-55%

Q1 2017

Q1 2018

% Change

148

160

8%

1,260

1,700

35%

# of Sales Median Price ($000)

SARATOGA

SUNNYVALE

Q1 2017

Q1 2018

% Change

53

51

-4%

# of Sales

2,230

2,720

22%

Median Price ($000)

Avg CDOM

34

34

0%

Avg CDOM

14

8

-43%

Months of Inventory

2.5

2.7

8%

Months of Inventory

0.8

0.7

-13%

# of Sales Median Price ($000)

All Residential. Source: TrendGraphix Jan - Mar 2018 * Number of Sales is for the stated quarter and Median Price is an average for the stated quarter. ** Average Cumulative Days on Market and Months of Inventory based on statistics for the last month of the stated quarter. Areas displaying 0 Months of Inventory may have reported an inventory level sub-0.05. Information is obtained from the Multiple Listing Service and/or public records. This third party information has not been independently verified.


Q1

2017 2018

# of Sales Median Price

s 2% 965 980 $1,100,000 $1,365,000 s 24%

Avg CDOM MOI

2017 2018 31 18 42%t 1.4 1.1 21%t

Inventory remained short in the first quarter in San Mateo County, continuing to catalyze rising prices. Homes sold at a quick pace, particularly in the low to mid-price points, where multiple offers and sales well above asking price are common. Buyers are continually attracted to well-priced homes shown in their best light and are willing to pay top dollar for them. 2017

ATHERTON

BELMONT

BRISBANE

BURLINGAME

DALY CITY

EL GRANADA

FOSTER CITY

HALF MOON BAY

# of Sales

2018 %Change

2017

2018 %Change

10

9

-10%

Avg CDOM

54

39

-28%

4,925

8,500

73%

Months of Inventory

7.8

7.0

-10%

37

39

5%

Avg CDOM

35

11

-69%

1,570

1,775

13%

Months of Inventory

0.6

0.8

33%

12

6

-50%

Avg CDOM

74

14

-81%

1,050

1,030

-2%

Months of Inventory

0.5

1.0

100%

38

36

-5%

Avg CDOM

28

17

-39%

1,776

2,204

24%

Months of Inventory

1.5

0.7

-53%

# of Sales

104

85

-18%

Avg CDOM

28

20

-29%

Median Price($000)

789

1,010

28%

Months of Inventory

1.0

0.6

-40%

Median Price($000) # of Sales Median Price($000) # of Sales Median Price($000) # of Sales Median Price($000)

# of Sales Median Price($000) # of Sales Median Price($000) # of Sales Median Price($000)

13

14

8%

Avg CDOM

27

31

15%

950

1,004

6%

Months of Inventory

2.3

0.6

-74%

41

39

-5%

Avg CDOM

23

9

-61%

1,330

1,530

15%

Months of Inventory

1.1

0.5

-55%

24

31

29%

Avg CDOM

47

41

-13%

888

1,300

46%

Months of Inventory

2.3

1.1

-52%


HILLSBOROUGH

MENLO PARK

MILLBRAE MONTARA, MOSS BEACH PACIFICA

PORTOLA VALLEY

REDWOOD CITY

REDWOOD SHORES

SAN BRUNO

SAN CARLOS

SAN MATEO SOUTH SAN FRANCISCO WOODSIDE

# of Sales Median Price($000) # of Sales Median Price($000) # of Sales Median Price($000) # of Sales Median Price($000) # of Sales Median Price($000) # of Sales Median Price($000)

2017 18 4,185

2018 %Change 18 0% Avg CDOM 5,014

20%

Months of Inventory

2017 27

2018 %Change 22 -19%

4.7

3.8

-19%

63

60

-5%

Avg CDOM

34

18

-47%

1,830

2,612

43%

Months of Inventory

2.4

1.1

-54%

28

31

11%

Avg CDOM

28

18

-36%

1,327

1,728

30%

Months of Inventory

1.9

0.9

-53%

12

9

-25%

Avg CDOM

69

59

-15%

946

1,309

38%

Months of Inventory

2.0

3.3

66%

63

54

-14%

Avg CDOM

33

15

-55%

890

1,008

13%

Months of Inventory

1.0

0.7

-30%

13

8

-38%

Avg CDOM

37

37

0%

2,588

3,625

40%

Months of Inventory

2.8

3.8

36%

116

129

11%

Avg CDOM

23

18

-22%

1,350

1,689

25%

Months of Inventory

0.9

0.9

0%

9

23

156%

Avg CDOM

21

17

-19%

Median Price($000)

831

1,675

102%

Months of Inventory

1.3

0.5

-62%

# of Sales

53

46

-13%

Avg CDOM

21

19

-10%

Median Price($000)

851

966

14%

Months of Inventory

0.7

1.0

43%

# of Sales Median Price($000) # of Sales

63

69

10%

Avg CDOM

20

10

-50%

1,675

1,780

6%

Months of Inventory

1.0

0.6

-40%

# of Sales

144

168

17%

Avg CDOM

32

13

-59%

Median Price($000)

1,196

1,354

13%

Months of Inventory

1.2

0.9

-25%

69

63

-9%

Avg CDOM

29

18

-38%

848

1,050

24%

Months of Inventory

0.9

0.6

-33%

7

13

86%

Avg CDOM

84

57

-32%

1,674

2,910

74%

Months of Inventory

12.0

6.0

-50%

# of Sales Median Price($000)

# of Sales Median Price($000) # of Sales Median Price($000)

All Residential. Source: TrendGraphix Jan - Mar 2018 * Number of Sales is for the stated quarter and Median Price is an average for the stated quarter. ** Average Cumulative Days on Market and Months of Inventory based on statistics for the last month of the stated quarter. Areas displaying 0 Months of Inventory may have reported an inventory level sub-0.05. Information is obtained from the Multiple Listing Service and/or public records. This third party information has not been independently verified.


q1 2018 market summary Uncompromising Service In Luxury Real Estate.

Greetings friends and neighbors. Much to my surprise, the Tax Cuts and Jobs Act of 2017 took effect and no one blinked. New limits on deductions and write-offs did not seem to change buyer or seller behavior in our area this past quarter, nor did creeping interest rates. Buyers are still full-throttle striving to beat their peers and purchase homes. Millennials, who now represent over one third of our buyers, prefer turnkey homes in the most trendy areas, defined by proximity to public transportation, shops and restaurants. Less trendy locations are still selling but not with the same velocity. (See Days on Market on the Units Sold chart) To know where the market is headed only two things seem to matter now: Tech stocks and housing inventory. Housing inventory has not kept up with demand. People 55 years and older who sold their homes in 2009 had lived there six years, on average, before selling. In 2017, due to tax and appreciation concerns, that number increased to 10 years in the home before selling. Three-quarters of that same group have not moved since 2000. Cities are working to remedy the housing shortage and offset employment growth by streamlining their approval for large projects. Palo Alto has approved a plan to allow over housing 300 units a year to be built through 2030. Mountain View has approved the N. Bayshore plan to build nearly 10,000 units. Menlo Park is considering approving Facebook’s request to build “Willow Village” which would add an additional 1,500 units. With few exceptions, these new projects are high-density, making properties with any amount of acreage more coveted. My advice to buyers? It is all about the land. Get in now or you will never be able to start building the wealth. My advice to sellers nearing a life change, it is a great time to sell.

Broker Associate,

ePRO, SRES, GREEN

650.279.7074

cmiller@apr.com conniemiller.com License# 01275848

As always, if you are considering a real estate move, it would be my pleasure to brainstorm with you and help you through the transition. My gratitude for your loyalty and referrals is unwavering.

There is never an obligation when you call me..


Q1 2018 MARKET SUMMARY Average Sale Price $8

Average Sale Price Q1 2017

$7

Average Sale Price Q1 2018

$6

Million

$5 $4 $3 $2 $1 $0 Atherton

Woodside

Portola Valley

Menlo Park

Palo Alto

Los Altos Hills

Los Altos

Mountain View

Sunnyvale Cupertino

Saratoga

Monte Sereno Los Gatos

Q1 2018 Sales Price Range $11

Price Ranges

$10 $9 $8

Million

$7 $6 $5 $4 $3 $2 $1 $0

Atherton

Woodside

Portola Valley

Menlo Park

Palo Alto

Los Altos Hills

Los Altos

Mountain View

Sunnyvale

Cupertino

Saratoga

Monte Sereno Los Gatos

Units Sold 110

Units Sold Q1 2017

100

Units Sold Q1 2018

90

Days on Market

80 70 60 50 40 30 20 10 0

Atherton

Woodside

Portola Valley

Menlo Park Palo Alto

Los Altos Hills

Los Altos

Mountain View

Sunnyvale Cupertino

Square footage, acreage, and other information herein, has been received from one or more of a variety of different sources. Such information has not been verified by Alain Pinel Realtors. If important to buyers, buyers should conduct their own investigation. Information deemed reliable, but not guaranteed.

Saratoga

Monte Sereno Los Gatos

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