November 2024 Market Update - Joe Han

KW Bay Area Estates

Santa Clara County Jump to Santa Clara County Report

San Mateo County Jump to San Mateo County Report

San Francisco County Jump to San Francisco County Report

Alameda County Jump to Alameda County Report

What’s your home really worth in today’s market?

That's really 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. At the end of the day, it’s the current market that sets the value of your home.

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 home's value.

Should You Sell Your House As-Is or Make Repairs?

A recent study from the National Association of Realtors (NAR) shows most sellers (61%) completed at least minor repairs when selling their house. But sometimes life gets in the way and that’s just not possible. Maybe that’s why, 39% of sellers chose to sell asis instead

Smart Strategies for a Smooth Mortgage Application Secure Your Dream Home Today

paying off debts or 4 Avoid collections without

1

professional advice.

verified funds for 5 Use deposits to prevent

2

closing delays.

3

Always consult your mortgage professional before making large financial moves.

have your credit 6 Don't report pulled too many times - this can hurt your credit score.

Keep your financial habits steady for the best mortgage outcomes.

Start Your Smooth Mortgage Journey –

Reach Out to Us!

Santa Clara County What's in the Santa Clara County data?

The market for Single Family Homes, Condo, and Townhomes units saw 1,000 closed sales at a median price of $1.5m. There was a total of 802 new listings with an average of 25 days on the market without price reduction and with an average price per square foot of $1,057.

Overview November 2024

New Listings

Closed Sales

Average Days-on-Market

802

1,000

25

+5.9% Year-over-Year

+27.4% Year-over-Year

+25% Year-over-Year

Average Price Per SqFt

Median Sale Price

Total Volume

$1,057

$1.5M

$1.9B

+5.6% Year-over-Year

+9% Year-over-Year

+43.5% Year-over-Year

Data includes all single family, townhome, and condominium sales in Santa Clara County sourced from MLS Listings. The most recent quarter’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.

SFH Single Family Homes

521

694

New Listings

Closed Sales

22

$1,173

Average Days-on-Market

Average Price Per SqFt

$1.9M

$1.6B

Median Sale Price

Total Volume

Data includes all single family, townhome, and condominium sales in Santa Clara County sourced from MLS Listings. The most recent quarter’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 Condo & Townhomes

280

306

New Listings

Closed Sales

31

$796

Average Days-on Market

Average Price Per SqFt

$1M $327M Median Sale Price

Total Volume

Luxury Listings for Sale

Current Year

BY MONTH, YEAR-OVER-YEAR

Previous Year

(+$3,000,000 & Above) 300 250 200

296 257

257

276 201

212

211

201

209

July

August

September

October

150

195

100 50 0

November

Luxury Contracts Signed

Current Year

BY MONTH, YEAR-OVER-YEAR

Previous Year

(+$3,000,000 & Above) 200

150

140

144

154

161

140 100

117

106

79 83

50

43 0

July

August

September

October

November

N ov 20 De 23 c 20 Ja 23 n 20 Fe 24 b 20 2 M ar 4 20 Ap 24 r2 M 024 ay 20 Ju 24 n 20 24 Ju l2 0 Au 24 g 20 Se 24 p 20 2 O ct 4 20 2 N ov 4 20 24

$500,000

$0

$1,580,000

October

$1,670,000

$1,550,000

September

$1,580,000

$1,520,500 $1,580,000

$1,521,000 $1,550,000

$1,541,000 $1,670,000

$1,450,000 $1,580,000

P R E VIOUS YEAR

$1,600,000

$1,635,000

August

$1,692,500

$1,694,000

$1,633,333

July

$1,460,000

$1,440,500

$1,600,000

2023

$1,417,500

$0 $1,500,001

$500,000

$1,450,000

Median Sales Price

BY MONTH, YEAR-OVER-YEAR C U R RENT YEAR

$2,000,000

$1,500,000

$1,000,000

2024 2023 2024 2023 2024 2023 2024 2023

November

2024

BY MONTH

$2,000,000

$1,500,000

$1,000,000

New Listings

C U R RENT YEAR P R E VIOUS YEAR

BY MONTH, YEAR-OVER-YEAR 2,000 1,500 1,000 500 0

1,338 1,074 July

1,314

1,464

1,266

1,195

August

September

1,300 1,067 October

Contracts Signed 1,072

1,000 800 600

898

1,031 1,002

757 November

C U R RENT YEAR P R E VIOUS YEAR

BY MONTH, YEAR-OVER-YEAR 1,200

802

987

1,147 883

884

830

September

October

400

733

200 0

July

August

Closed Sales

C U R RENT YEAR P R E VIOUS YEAR

BY MONTH, YEAR-OVER-YEAR 1,200

1,113

1,000 800 600

879

1,072 1,026

November

930

1,067

871

927

September

October

1,000 785

400 200 0

July

August

Average Days-on-Market

C U R RENT YEAR P R E VIOUS YEAR

BY MONTH, YEAR-OVER-YEAR 25

20

November

24

21

25

20

18

15

18

18

19

19

20

July

August

September

October

November

10 5 0

Back to Table of Contents

San Mateo County What's in the San Mateo County data?

The market for Single Family Homes, Condo, and Townhomes units saw 394 closed sales at a median price of $1.6m. There was a total of 322 new listings with an average of 33 days on the market without price reduction and with an average price per square foot of $1075.

Overview November 2024

New Listings

Closed Sales

Average Days-on-Market

322

394

33

+11% Year-over-Year

+10.7% Year-over-Year

+13.8% Year-over-Year

Average Price Per SqFt

Median Sale Price

Total Volume

$1,075

$1.6M

$856M

+2.5% Year-over-Year

-6.8% Year-over-Year

+18.3% Year-over-Year

Data includes all single family, townhome, and condominium sales in San Mateo County sourced from MLS Listings. The most recent quarter’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.

SFH Single Family Homes

242

297

New Listings

Closed Sales

24

$1,181

Average Days-on-Market

Average Price Per SqFt

$2M

$760M

Median Sale Price

Total Volume

Data includes all single family, townhome, and condominium sales in San Mateo County sourced from MLS Listings. The most recent quarter’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 Condo & Townhomes

80

97

New Listings

Closed Sales

61

$750

Average Days-on Market

Average Price Per SqFt

$880K

$95M

Median Sale Price

Total Volume

Luxury Listings for Sale

Current Year

BY MONTH, YEAR-OVER-YEAR

Previous Year

(+$3,000,000 & Above) 250 200

191

187

191

184

150

206

220 183

187

186 158

100 50 0

July

August

September

October

November

Luxury Contracts Signed

Current Year

BY MONTH, YEAR-OVER-YEAR

Previous Year

(+$3,000,000 & Above) 80

60

63

64

62

59

79

77

65 57

42

40

20

17 0

July

August

September

October

November

N ov 20 De 23 c 20 Ja 23 n 20 Fe 24 b 20 2 M ar 4 20 Ap 24 r2 M 024 ay 20 Ju 24 n 20 24 Ju l2 0 Au 24 g 20 Se 24 p 20 2 O ct 4 20 2 N ov 4 20 24

$500,000

$0

$1,655,000

October

$1,622,500

$1,565,000

September

$1,605,800

$1,550,000 $1,605,800

$1,532,500 $1,565,000

$1,650,000 $1,622,500

$1,550,000 $0,000,000 $1,655,000

P R E VIOUS YEAR

$1,710,000

$1,750,000

August

$1,850,000

$1,633,000

$1,633,000

July

$1,550,000

$1,500,000

$1,710,000

2023

$1,400,000

$0 $1,559,000

$500,000

$1,550,000

Median Sales Price

BY MONTH, YEAR-OVER-YEAR C U R RENT YEAR

$2,000,000

$1,500,000

$1,000,000

2024 2023 2024 2023 2024 2023 2024 2023

November

2024

BY MONTH

$2,000,000

$1,500,000

$1,000,000

New Listings

C U R RENT YEAR P R E VIOUS YEAR

BY MONTH, YEAR-OVER-YEAR 700 600 500 400 300 200 100 0

565

541

554

472

651 628

557 469

290 July

August

September

October

Contracts Signed 428

400 300

373

457 438

November

C U R RENT YEAR P R E VIOUS YEAR

BY MONTH, YEAR-OVER-YEAR 500

322

435

487 355

392

382

September

October

200

326

100 0

July

August

Closed Sales

C U R RENT YEAR P R E VIOUS YEAR

BY MONTH, YEAR-OVER-YEAR 500 400 300

418 370

November

435

441

466

418

398

392

August

September

October

394 356

200 100 0

July

Average Days-on-Market

C U R RENT YEAR P R E VIOUS YEAR

BY MONTH, YEAR-OVER-YEAR 35 30 25 20 15 10 5 0

23 23

July

November

31

28

29

27

26

26

August

September

October

33 29

November

Back to Table of Contents

San Francisco County What's in the San Francisco County data?

The market for Single Family Homes, Condo, and Townhomes units saw 384 closed sales at a median price of $1.3m. There was a total of 257 new listings with an average of 47 days on the market without price reduction and with an average price per square foot of $987.

Overview November 2024

New Listings

Closed Sales

Average Days-on-Market

257

384

47

+14.7% Year-over-Year

+15.7% Year-over-Year

+17.5% Year-over-Year

Average Price Per SqFt

Median Sale Price

Total Volume

$987

$1.3M

$661M

+1.8% Year-over-Year

0% Year-over-Year

+15.5% Year-over-Year

Data includes all single family, townhome, and condominium sales in San Francisco County sourced from MLS Listings. The most recent quarter’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.

SFH Single Family Homes

128

204

New Listings

Closed Sales

31

$1,000

Average Days-on-Market

Average Price Per SqFt

$1.5M

$426M

Median Sale Price

Total Volume

Data includes all single family, townhome, and condominium sales in San Francisco County sourced from MLS Listings. The most recent quarter’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 Condo & Townhomes

129

180

New Listings

Closed Sales

64

$974

Average Days-on Market

Average Price Per SqFt

$1M $233M Median Sale Price

Total Volume

Luxury Listings for Sale

Current Year

BY MONTH, YEAR-OVER-YEAR

Previous Year

(+$3,000,000 & Above) 200

178

150

114 100

152

117

170 139 134 115

106 84

50

0

July

August

September

October

November

Luxury Contracts Signed

Current Year

BY MONTH, YEAR-OVER-YEAR

Previous Year

(+$3,000,000 & Above) 70

62

60 50 40 30

26

20 10 0

17 July

26

32

45 27

30 20 14 August

September

October

November

N ov 20 De 23 c 20 Ja 23 n 20 Fe 24 b 20 2 M ar 4 20 Ap 24 r2 M 024 ay 20 Ju 24 n 20 24 Ju l2 0 Au 24 g 20 Se 24 p 20 2 O ct 4 20 2 N ov 4 20 24

$500,000

$0

$1,350,000

October

$1,530,000

$1,401,800

September

$1,250,000

$1,360,000 $1,250,000

$1,400,000 $1,401,800

$1,400,000 $1,530,000

$1,350,000 $1,350,000

P R E VIOUS YEAR

$1,409,315

$1,453,813

August

$1,402,000

$1,402,500

$1,415,000

July

$1,397,000

$1,339,015

$1,409,315

2023

$1,227,500

$0 $1,320,000

$500,000

$1,350,000

Median Sales Price

BY MONTH, YEAR-OVER-YEAR C U R RENT YEAR

$2,000,000

$1,500,000

$1,000,000

2024 2023 2024 2023 2024 2023 2024 2023

November

2024

BY MONTH

$2,000,000

$1,500,000

$1,000,000

New Listings

C U R RENT YEAR P R E VIOUS YEAR

BY MONTH, YEAR-OVER-YEAR

865

1,000 800 600 400 200 0

532

424 408

447

July

August

855

546 506

257

October

November

224 September

Contracts Signed

C U R RENT YEAR P R E VIOUS YEAR

BY MONTH, YEAR-OVER-YEAR 500 400

335

300 200

277

333

353

310

322

August

September

443 382

329 282

100 0

July

October

Closed Sales

C U R RENT YEAR P R E VIOUS YEAR

BY MONTH, YEAR-OVER-YEAR 500 400 300 200

390

333

November

439 294

303

307

289

July

August

September

367

384 332

100 0

October

Average Days-on-Market

C U R RENT YEAR P R E VIOUS YEAR

BY MONTH, YEAR-OVER-YEAR 50 40 30

39

45 44

35

November

41 38

20

47 33 32

40

10 0

July

August

September

October

November

Back to Table of Contents

Alameda County What's in the Alameda County data?

The market for Single Family Homes, Condo, and Townhomes units saw 783 closed sales at a median price of $1.1m. There was a total of 653 new listings with an average of 28 days on the market without price reduction and with an average price per square foot of $735.

Overview November 2024

New Listings

Closed Sales

Average Days-on-Market

653

783

28

-11.5% Year-over-Year

+9.2% Year-over-Year

+27.3% Year-over-Year

Average Price Per SqFt

Median Sale Price

Total Volume

$735

$1.1M

$1B

0% Year-over-Year

+4.6% Year-over-Year

+15.5% Year-over-Year

Data includes all single family, townhome, and condominium sales in Alameda County sourced from MLS Listings. The most recent quarter’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.

SFH Single Family Homes

460

620

New Listings

Closed Sales

26

$770

Average Days-on-Market

Average Price Per SqFt

$1.2M

$872M

Median Sale Price

Total Volume

Data includes all single family, townhome, and condominium sales in Alameda County sourced from MLS Listings. The most recent quarter’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 Condo & Townhomes

193

163

New Listings

Closed Sales

37

$604

Average Days-on Market

Average Price Per SqFt

$765K $130M Median Sale Price

Total Volume

Luxury Listings for Sale

Current Year

BY MONTH, YEAR-OVER-YEAR

Previous Year

(+$3,000,000 & Above) 50 40 30

37

43

39

36

37

July

August

40

44 39

37 34

20 10 0

September

October

November

Luxury Contracts Signed

Current Year

BY MONTH, YEAR-OVER-YEAR

Previous Year

(+$3,000,000 & Above) 25 20 15

19

24 18 15

12

15

10

17

13

5 0

10

6 July

August

September

October

November

N ov 20 De 23 c 20 Ja 23 n 20 Fe 24 b 20 2 M ar 4 20 Ap 24 r2 M 024 ay 20 Ju 24 n 20 24 Ju l2 0 Au 24 g 20 Se 24 p 20 2 O ct 4 20 2 N ov 4 20 24

$600,000

$400,000

$200,000

$0

$1,150,000

October

$1,100,000

$1,100,000

September

$1,072,500

$1,075,000 $1,072,500

$1,100,000 $1,100,000

$1,090,000 $1,100,000

$1,100,000 $1,150,000

P R E VIOUS YEAR

$1,150,000

$1,220,561

August

$1,225,000

$1,225,000

$1,195,000

July

$1,100,000

$1,150,000

2023

$950,000

$0

$1,010,000

$200,000

$1,100,000

$400,000

$1,100,000

Median Sales Price

BY MONTH, YEAR-OVER-YEAR C U R RENT YEAR

$1,200,000

$1,000,000

$800,000

$600,000

2024 2023 2024 2023 2024 2023 2024 2023

November

2024

BY MONTH

$1,400,000

$1,200,000

$1,000,000

$800,000

New Listings

C U R RENT YEAR P R E VIOUS YEAR

BY MONTH, YEAR-OVER-YEAR 2,000 1,500 1,000

1,325

1,314

1,144

1,247

1,507 1,276

500 0

1,240 1,053

653 July

August

September

October

Contracts Signed

800 600

927 803

946 914

November

C U R RENT YEAR P R E VIOUS YEAR

BY MONTH, YEAR-OVER-YEAR 1,000

738

888

993

799

807

September

October

400

719 673

200 0

July

August

Closed Sales

C U R RENT YEAR P R E VIOUS YEAR

BY MONTH, YEAR-OVER-YEAR 1,200 1,000 800 600

990 836

927 922

November

848

1,010 783

829

833

September

October

400

717

200 0

July

August

Average Days-on-Market

C U R RENT YEAR P R E VIOUS YEAR

BY MONTH, YEAR-OVER-YEAR 30 25

21

20 15 10

18

November

25

26

25

21

20

19

August

September

October

28 22

5 0

July

November

Back to Table of Contents

Dedicated to Success 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.

KW Bay Area Estates 16780 Lark Ave Ste A, Los Gatos, CA 95032 Phone: 408.560.9000

12820 Saratoga-Sunnyvale Rd, Saratoga, CA 95070 Phone: 408.418.3911

Joe Han General Manager | CGO | SVP DRE #01400808 JoeHan@kw.com 408.829.0779