Jennifer McKay - December 2024 Market Update

Page 1


KW Bay Area Estates

Santa Clara County

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San Jose

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Santa Clara City

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Sunnyvale

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Cupertino

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Palo Alto

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Milpitas

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Mountain View

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Los Gatos

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Saratoga

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Campbell

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Los Altos

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Almaden Valley (San Jose)

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Willow Glen (San Jose)

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Cambrian (San Jose)

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AboutMe

I am a real estate professional with over 20 years of experience in high tech, data analytics, and finance. My analytical skills and methodical approach ensure a smooth, effective real estate experience for my clients.

With a background in high tech, I use advanced digital tools to streamline the buying and selling process. My expertise in data analytics allows me to provide indepth market insights, precise property valuations, and investment opportunities to help clients make confident decisions.

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

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

Santa Clara County

What's in the Santa

The market for Single Family Homes, Condo, and Townhomes units saw 833 closed sales at a median price of $1.5m. There was a total of 554 new listings with an average of 30 days on the market without price reduction and with an average price per square foot of $1,028.

Clara County data?

December 2024

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings The most recent month’s data is based on available numbers but may change with late reported activity Data from sources deemed reliable but may contain errors and are subject to revision New Listings Closed Sales Average Days-on-Market

554

+37.1% Year-over-Year

Average Price Per SqFt

$1,028

+4 4% Year-over-Year

833

$1.5M Median Sale Price +24.7% Year-over-Year +7 9% Year-over-Year

30 $1.5B Total Volume +20% Year-over-Year

+41 3% Year-over-Year

398 New Listings

26 Average Days-on-Market

$1.8M

Median Sale Price 559 Closed Sales

$1,148

Average Price Per SqFt

$1.2B

Total Volume

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings. The most recent month’s data is based on available numbers but may change with late reported activity. Data from sources deemed reliable but may contain errors and are subject to revision.

156 New Listings

36 Average Days-on Market

$1M Median Sale Price

274 Closed Sales

$785 Average Price Per SqFt

$294.6M Total Volume

Luxury Listings for Sale

San Jose

What's in the San Jose data?

The market for Single Family Homes, Condo, and Townhomes units saw 449 closed sales at a median price of $1.3m. There was a total of 287 new listings with an average of 27 days on the market without price reduction and with an average price per square foot of $908.

December 2024

287

+29.3% Year-over-Year +3 8% Year-over-Year

$908 Average Price Per SqFt

449 $1.3M Median Sale Price +24.7% Year-over-Year +7 3% Year-over-Year

27

$670.9M Total Volume +22.7% Year-over-Year +32 8% Year-over-Year

Family Homes

213 New Listings

23

Average Days-on-Market

$1.6M

Median Sale Price

309 Closed Sales

$1,011

Average Price Per SqFt

$547.2M

Total Volume

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings. The most recent month’s data is based on available numbers but may change with late reported activity. Data from sources deemed reliable but may contain errors and are subject to revision.

36 Average Days-on Market

$795K Median Sale Price

140 Closed Sales

$680 Average Price Per SqFt

$123.6M Total Volume

Santa Clara City

What's in the Santa Clara City data?

The market for Single Family Homes, Condo, and Townhomes units saw 39 closed sales at a median price of $1.6m. There was a total of 29 new listings with an average of 24 days on the market without price reduction and with an average price per square foot of $1,118.

December 2024

29

+45% Year-over-Year

Average Price Per SqFt

$1,118 New Listings

+14 1% Year-over-Year

39

+9.3% Year-over-Year

Median Sale Price

$1.6M Closed Sales

+18% Year-over-Year

24

Total Volume -7.7% Year-over-Year

$65.5M Average Days-on-Market

+3 7% Year-over-Year

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings The most recent month’s data is based on available numbers but may change with late reported activity Data from sources deemed reliable but may contain errors and are subject to revision

Listings 17 Average Days-on-Market $1,353 Average Price Per SqFt $1.9M Median Sale Price 23 Closed Sales

$48.9M

Total Volume

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings. The most recent month’s data is based on available numbers but may change with late reported activity. Data from sources deemed reliable but may contain errors and are subject to revision.

8

34 Average Days-on Market

$1.2M Median Sale Price

16 Closed Sales $18.5M Total Volume

$779 Average Price Per SqFt

Luxury Listings for Sale

Sunnyvale

What's in the Sunnyvale data?

The market for Single Family Homes, Condo, and Townhomes units saw 51 closed sales at a median price of $1.8m. There was a total of 32 new listings with an average of 29 days on the market without price reduction and with an average price per square foot of $1,229.

December 2024

32

+39.13% Year-over-Year

Average Price Per SqFt

$1,229 New Listings

+4 6% Year-over-Year

51

$1.8M Closed Sales Median Sale Price +34.2% Year-over-Year

+15 8% Year-over-Year

+31.8% Year-over-Year

Total Volume

29 $106M Average Days-on-Market

+63 5% Year-over-Year

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings The most recent month’s data is based on available numbers but may change with late reported activity Data from sources deemed reliable but may contain errors and are subject to revision

SqFt $2.4M Median Sale Price

$74.1M Total Volume

15 New Listings

32 Average Days-on Market

$1.6M Median Sale Price

21 Closed Sales

$904 Average Price Per SqFt

$32.5M Total Volume

Cupertino

What's in the Cupertino data?

The market for Single Family Homes, Condo, and Townhomes units saw 24 closed sales at a median price of $2.6m. There was a total of 12 new listings with an average of 12 days on the market without price reduction and with an average price per square foot of $1,472.

December 2024

12

24

Average Price Per SqFt

$1,472

-7.7% Year-over-Year -3 4% Year-over-Year

$2.6M Median Sale Price +26.3% Year-over-Year +1% Year-over-Year

12

$65.6M Total Volume -66.7% Year-over-Year

+33% Year-over-Year

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings The most recent month’s data is based on available numbers but may change with late reported activity Data from sources deemed reliable but may contain errors and are subject to revision

9 New Listings

7 Average Days-on-Market

13 Closed Sales

$1,692

Average Price Per SqFt $3.4M

Median Sale Price

$45.7M

Total Volume

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings. The most recent month’s data is based on available numbers but may change with late reported activity. Data from sources deemed reliable but may contain errors and are subject to revision.

3 New Listings

11 Closed Sales

18 Average Days-on Market

$1.8M Median Sale Price

$1,211 Average Price Per SqFt

$19.8M Total Volume

Luxury Listings for Sale

Palo Alto

What's in the Palo Alto data?

The market for Single Family Homes, Condo, and Townhomes units saw 31 closed sales at a median price of $2.8m. There was a total of 16 new listings with an average of 29 days on the market without price reduction and with an average price per square foot of $1,716.

December 2024

16

+77.8% Year-over-Year

Average Price Per SqFt

$1,716 New Listings

+0 4% Year-over-Year

31

$2.8M Closed Sales Median Sale Price +24% Year-over-Year

+5 6% Year-over-Year

29

Total Volume -17.1% Year-over-Year

$96.8M Average Days-on-Market

+52 1% Year-over-Year

Data includes all single family, townhome, and condominium sales in San Mateo County sourced from MLS Listings The most recent month’s data is based on available numbers, but may change with late reported activity Data from sources deemed reliable but may contain errors and are subject to revision

21 Average Days-on-Market $1,975 Average Price Per SqFt $3.4M Median Sale Price 22 Closed Sales $84M Total Volume

Data includes all single family, townhome, and condominium sales in San Mateo County sourced from MLS Listings. The most recent month’s data is based on available numbers, but may change with late reported activity. Data from sources deemed reliable but may contain errors and are subject to revision.

Condo & Townhomes

4 New Listings

9 Closed Sales

49 Average Days-on Market

$1.4M Median Sale Price

$1,082 Average Price Per SqFt

$12.8M Total Volume

Dec2023Jan2024Feb2024Mar2024Apr2024May2024Jun2024Jul2024Aug2024Sep2024Oct2024Nov2024Dec2024

Milpitas

What's in the Milpitas data?

The market for Single Family Homes, Condo, and Townhomes units saw 32 closed sales at a median price of $1.4m. There was a total of 25 new listings with an average of 27 days on the market without price reduction and with an average price per square foot of $927.

December 2024

25

+38.9% Year-over-Year

$927 Average Price Per SqFt

+14 3% Year-over-Year

32

$1.4M Median Sale Price +68.4% Year-over-Year

+5 9% Year-over-Year

+22.7% Year-over-Year

27 $44M Total Volume

+89 4% Year-over-Year

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings The most recent month’s data is based on available numbers but may change with late reported activity Data from sources deemed reliable but may contain errors and are subject to revision

Listings

26 Average Days-on-Market

18 Closed Sales

$1,053

Average Price Per SqFt $1.5M

Median Sale Price

$29.6M

Total Volume

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings. The most recent month’s data is based on available numbers but may change with late reported activity. Data from sources deemed reliable but may contain errors and are subject to revision.

29 Average Days-on Market

$1M Median Sale Price

14 Closed Sales $14.3M Total Volume

$764 Average Price Per SqFt

Mountain View

What's in the Mountain View data?

The market for Single Family Homes, Condo, and Townhomes units saw 38 closed sales at a median price of $1.7m. There was a total of 12 new listings with an average of 28 days on the market without price reduction and with an average price per square foot of $1,225.

December 2024

12

-7.7% Year-over-Year

Average Price Per SqFt

$1,225 New Listings

-15 2% Year-over-Year

38

$1.7M Closed Sales Median Sale Price +46.2% Year-over-Year -5% Year-over-Year

28

Total Volume +47.4% Year-over-Year

$75.6M Average Days-on-Market

+56 7% Year-over-Year

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings The most recent month’s data is based on available numbers but may change with late reported activity Data from sources deemed reliable but may contain errors and are subject to revision

Family Homes

7 New Listings

18 Average Days-on-Market

16 Closed Sales

$1,586

Average Price Per SqFt $3M

Median Sale Price

$48.6M

Total Volume

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings. The most recent month’s data is based on available numbers but may change with late reported activity. Data from sources deemed reliable but may contain errors and are subject to revision.

5

35 Average Days-on Market

$1.1M Median Sale Price

22 Closed Sales

$962 Average Price Per SqFt

$26.9M Total Volume

Los Gatos

What's in the Los Gatos data?

The market for Single Family Homes, Condo, and Townhomes units saw 43 closed sales at a median price of $1.7m. There was a total of 34 new listings with an average of 49 days on the market without price reduction and with an average price per square foot of $1003.

2024

34

+54.6% Year-over-Year

$1,003 Average Price Per SqFt

+3 4% Year-over-Year

43

$1.7M Median Sale Price +48.3% Year-over-Year -15 9% Year-over-Year

49 $92.6M Total Volume -3.9% Year-over-Year

+44 5% Year-over-Year

Listings

58 Average Days-on-Market

$2.5M

Median Sale Price

24 Closed Sales

$1,087

Average Price Per SqFt

$67.6M

Total Volume

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings. The most recent month’s data is based on available numbers but may change with late reported activity. Data from sources deemed reliable but may contain errors and are subject to revision.

38 Average Days-on Market

$1.4M Median Sale Price

19 Closed Sales

$897 Average Price Per SqFt

$25M Total Volume

Saratoga

What's in the Saratoga data?

The market for Single Family Homes, Condo, and Townhomes units saw 24 closed sales at a median price of $3.4m. There was a total of 16 new listings with an average of 17 days on the market without price reduction and with an average price per square foot of $1,585.

December 2024

16

+60% Year-over-Year

Average Price Per SqFt

$1,585

+7 9% Year-over-Year

24

$3.4M Median Sale Price +50% Year-over-Year

+10% Year-over-Year

Average Days-on-Market

17

$89.3M Total Volume +6.3% Year-over-Year

+70% Year-over-Year

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings The most recent month’s data is based on available numbers but may change with late reported activity Data from sources deemed reliable but may contain errors and are subject to revision

Listings

17 Average Days-on-Market $1,679

Average Price Per SqFt $3.7M

$84.5M

Total Volume

Median Sale Price 21 Closed Sales

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings. The most recent month’s data is based on available numbers but may change with late reported activity. Data from sources deemed reliable but may contain errors and are subject to revision.

3

20 Average Days-on Market

$1.3M Median Sale Price

3 Closed Sale

$927 Average Price Per SqFt

$4.8M Total Volume

Luxury Listings for

Campbell

What's in the Campbell data?

The market for Single Family Homes, Condo, and Townhomes units saw 18 closed sales at a median price of $850k. There was a total of 7 new listings with an average of 44 days on the market without price reduction and with an average price per square foot of $829.

December 2024

7

-22.2% Year-over-Year

Average Price Per SqFt

$829

-17 1% Year-over-Year

18

$850K Median Sale Price -10% Year-over-Year -47 3%% Year-over-Year

Average Days-on-Market

44 $21M Total Volume +109.5% Year-over-Year -27 9% Year-over-Year

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings The most recent month’s data is based on available numbers but may change with late reported activity Data from sources deemed reliable but may contain errors and are subject to revision New Listings

Family Homes

3 New Listings

62 Average Days-on-Market

4 Closed Sales

$1,086

Average Price Per SqFt $2.3M

Median Sale Price

$9.7M

Total Volume

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings. The most recent month’s data is based on available numbers but may change with late reported activity. Data from sources deemed reliable but may contain errors and are subject to revision.

4

39 Average Days-on Market

$706K Median Sale Price

14 Closed Sales $11.2M Total Volume

$756 Average Price Per SqFt

Luxury Listings for Sale

Los Altos

What's in the Los Altos data?

The market for Single Family Homes, Condo, and Townhomes units saw 20 closed sales at a median price of $4.9m. There was a total of 6 new listings with an average of 22 days on the market without price reduction and with an average price per square foot of $1,937.

December 2024

6

0% Year-over-Year

Average Price Per SqFt

$1,937

+34 7% Year-over-Year

20

$4.5M Median Sale Price +53.9% Year-over-Year

+45 7% Year-over-Year

22

$99.6M Total Volume -31.3% Year-over-Year

+134 7% Year-over-Year

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings The most recent month’s data is based on available numbers but may change with late reported activity Data from sources deemed reliable but may contain errors and are subject to revision

4 New Listings

18 Average Days-on-Market

19 Closed Sales

$1,946

Average Price Per SqFt $5M

Median Sale Price

$97.2M

Total Volume

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings. The most recent month’s data is based on available numbers but may change with late reported activity. Data from sources deemed reliable but may contain errors and are subject to revision.

Condo & Townhomes

2 New Listings

1 Closed Sale

82 Average Days-on Market

$2.3M Median Sale Price

$1,772 Average Price Per SqFt

$2.3M Total Volume

Luxury Listings for

Almaden Valley (San Jose)

What's in the Almaden Valley (San Jose) data?

The market for Single Family Homes, Condo, and Townhomes units saw 23 closed sales at a median price of $2.4m. There was a total of 13 new listings with an average of 39 days on the market without price reduction and with an average price per square foot of $984.

December 2024

13

+116.7% Year-over-Year

$984 Average Price Per SqFt

+10 7% Year-over-Year

23

$2.4M Median Sale Price +15% Year-over-Year +7 5 Year-over-Year

39

$56.6M Total Volume +85.7% Year-over-Year

+21% Year-over-Year

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings The most recent month’s data is based on available numbers but may change with late reported activity Data from sources deemed reliable but may contain errors and are subject to revision

42 Average Days-on-Market $988 Average Price Per SqFt $2.4M Median Sale Price 20 Closed Sales

$53.1M

Total Volume

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings. The most recent month’s data is based on available numbers but may change with late reported activity. Data from sources deemed reliable but may contain errors and are subject to revision.

1 New Listing

22 Average Days-on Market

$1.1M Median Sale Price

3 Closed Sales

$962 Average Price Per SqFt

$3.5M Total Volume

Luxury Listings for

Willow Glen (San Jose)

What's in the Willow Glen (San Jose) data?

The market for Single Family Homes, Condo, and Townhomes units saw 41 closed sales at a median price of $2.1m. There was a total of 29 new listings with an average of 28 days on the market without price reduction and with an average price per square foot of $1,086.

December 2024

29

+81.3% Year-over-Year

Average Price Per SqFt

$1,086 New Listings

+3 5% Year-over-Year

41

Median Sale Price +13.9% Year-over-Year

$2.1M Closed Sales

+29 5% Year-over-Year

28

Total Volume +12% Year-over-Year

$86.6M Average Days-on-Market

+25 4% Year-over-Year

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings The most recent month’s data is based on available numbers but may change with late reported activity Data from sources deemed reliable but may contain errors and are subject to revision

5 New Listings

73 Average Days-on Market

$1M Median Sale Price

5 Closed Sales

$760 Average Price Per SqFt

$4.9M Total Volume

Luxury Listings for Sale

Cambrian (San Jose)

What's in the Cambrian (San Jose) data?

The market for Single Family Homes, Condo, and Townhomes units saw 41 closed sales at a median price of $1.7m. There was a total of 33 new listings with an average of 23 days on the market without price reduction and with an average price per square foot of $1,144.

December 2024

33

+37.5% Year-over-Year

Average Price Per SqFt

$1,144

+12 2% Year-over-Year

41

$1.7M Median Sale Price -2.4% Year-over-Year +4 6% Year-over-Year

23 $70M Total Volume +76.9% Year-over-Year

+0 5% Year-over-Year

Data includes all single family, townhome, and condominium sales in the Bay Area sourced from MLS Listings The most recent month’s data is based on available numbers but may change with late reported activity Data from sources deemed reliable but may contain errors and are subject to revision

SqFt

$66.9M

Total Volume

45 Average Days-on Market

$829K Median Sale Price

4 Closed Sales

$796 Average Price Per SqFt

$3.1M Total Volume

Luxury Listings for

Ded

Being an independently owned and operated franchise of Keller Williams, KW Bay Area Estates has the position as the Bay Area’s foremost luxury real estate services firm with the execution of best-in-class customer service. KWBAE’s unparalleled team consists of more than 250 associates and professionals strategically located in Los Gatos and Saratoga. Under the same ownership, we have our division of KW South Bay Commercial.

With uncompromising principles, KW Bay Area Estates has established a new standard of excellence within the industry. The company’s growth has been strategic and exciting. Since its inception, the team has successfully represented more than 9,000 transactions, totaling more than $12 billion in total sales.

Dedicated to upholding unparalleled standards for integrity and client care, they strive to create a culture where agents thrive while developing their own businesses to their maximum potential. KW Bay Area Estates has given their agents over $2.6 million in profit share.

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