Joseph Karakas - March 2025 Market Update

Page 1


KW Bay Area Estates

Los Gatos/Monte Sereno

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Cambrian (San Jose)

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Saratoga

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Santa Clara County

Jump to Santa Clara County Report

Almaden Valley (San Jose)

Jump to Almaden Valley (San Jose) Report

Blossom Valley (San Jose)

Jump to Blossom Valley (San Jose) Report

Campbell

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Cupertino

Jump to Cupertino Report

Los Altos

Jump to Los Altos Report

Santa Teresa (San Jose)

Jump to Santa Teresa (San Jose) Report

Santa Clara City

Jump to Santa Clara City Report

South San Jose

Jump to South San Jose Report

Sunnyvale

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Willow Glen (San Jose)

Jump to Willow Glen (San Jose) Report

The #1 Thing Sellers Need To Know About Their Asking Price

When you put your house on the market, you want to sell it quickly and for the best price possible; that’s generally the goal. But too many sellers are shooting too high right now. They don’t realize the market has shifted as inventory has grown. The side effect? Price cuts are on the rise, but they really don’t have to be. Here’s why.

Los Gatos/Monte Sereno

The market for Single Family Homes, Condo, and Townhomes units saw 34 closed sales at a median price of $2.9m. There was a total of 72 new listings with an average of 20 days on the market without price reduction and with an average price per square foot of $1,368

What's in the Los Gatos/Monte Sereno data?

March 2025

New ListingsClosed SalesAverage Days-on-Market

72

+1.4% Year-over-Year

Average Price Per SqFt

$1,368

+0.7% Year-over-Year

34

$2.9M Median Sale Price +13.3% Year-over-Year -11.9% Year-over-Year

20 $103.7M Total Volume -20% Year-over-Year

+2.2% 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.

53 New Listings

20 Average Days-on-Market

$3.2M

Median Sale Price

26 Closed Sales

$1,502

Average Price Per SqFt

$92.2M

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.

19 New Listings

22 Average Days-on Market

$1.5M Median Sale Price

8 Closed Sales

$933 Average Price Per SqFt

$11.4M Total Volume

Cambrian (San Jose)

What's in the Cambrian

The market for Single Family Homes, Condo, and Townhomes units saw 39 closed sales at a median price of $1.8m. There was a total of 81 new listings with an average of 10 days on the market without price reduction and with an average price per square foot of $1,222

(San Jose) data?

March 2025

New ListingsClosed SalesAverage

81

+47.3% Year-over-Year

Average Price Per SqFt

$1,222

+1.8% Year-over-Year

39

$1.8M Median Sale Price -22% Year-over-Year

+5.2% Year-over-Year

10

Days-on-Market

$72.2M Total Volume -23.1% Year-over-Year

-15.5% 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.

73 New Listings

8 Average Days-on-Market

34 Closed Sales

$1,298

Average Price Per SqFt $1.8M

Median Sale Price

$68.8M

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.

21 Average Days-on Market

$600K Median Sale Price

5 Closed Sales

$705 Average Price Per SqFt

$3.3M Total Volume

Saratoga

What's in the Saratoga data?

The market for Single Family Homes, Condo, and Townhomes units saw 23 closed sales at a median price of $3.6m. There was a total of 55 new listings with an average of 18 days on the market without price reduction and with an average price per square foot of $1,464

March 2025

55

+57.1% Year-over-Year

Average Price Per SqFt

$1,464

-3.1% Year-over-Year

23

$3.6M Median Sale Price -11.5% Year-over-Year

-8.1% Year-over-Year

18

$95.6M Total Volume +28.6% Year-over-Year

-7.8% 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 ListingsClosed SalesAverage Days-on-Market

44 New Listings

19 Average Days-on-Market

18 Closed Sales

$1,557

Average Price Per SqFt $3.9M

Median Sale Price

$85.3M

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

11 New Listings

12 Average Days-on Market

$2M Median Sale Price

$1,129 Average Price Per SqFt

5 Closed Sale $10.2M Total Volume

Santa Clara County

What's in

The market for Single Family Homes, Condo, and Townhomes units saw 996 closed sales at a median price of $1.6m. There was a total of 2,018 new listings with an average of 16 days on the market without price reduction and with an average price per square foot of $1,145

the Santa Clara County data?

March 2025

New ListingsClosed SalesAverage Days-on-Market

2,018

+44.7% Year-over-Year

996

+5.4% Year-over-Year

Average Price Per SqFt

$1,145

+5.6% Year-over-Year

$1.6M Median Sale Price

+2.6% Year-over-Year

16

$2.1B Total Volume -5.9% Year-over-Year

+15.9% 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.

Single Family Homes

1,322

New Listings

13

Average Days-on-Market

$2.1M

Median Sale Price

665 Closed Sales

$1,308

Average Price Per SqFt

$1.7B

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.

696

20 Average Days-on Market

$1.1M Median Sale Price

331 Closed Sales

$818 Average Price Per SqFt

$375M Total Volume

Luxury Listings for Sale

Almaden Valley (San Jose)

What's in the Almaden

The market for Single Family Homes, Condo, and Townhomes units saw 26 closed sales at a median price of $2.3m. There was a total of 42 new listings with an average of 8 days on the market without price reduction and with an average price per square foot of $1,013

Valley (San Jose) data?

March 2025

New ListingsClosed SalesAverage Days-on-Market

42

+5% Year-over-Year

Average Price Per SqFt

$1,013

+3.2% Year-over-Year

26

$2.3M Median Sale Price 0% Year-over-Year

+9.1% Year-over-Year

8

$61.8M Total Volume -38.5% Year-over-Year

+4.5% 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.

35 New Listings

6 Average Days-on-Market

$2.4M

Median Sale Price

23 Closed Sales

$1,048

Average Price Per SqFt

$57.9M

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.

Condo & Townhomes

7

New Listings

17 Average Days-on Market

$1.2M Median Sale Price

3 Closed Sales

$745 Average Price Per SqFt

$3.8M Total Volume

Blossom Valley (San Jose)

What's in

The market for Single Family Homes, Condo, and Townhomes units saw 65 closed sales at a median price of $1.5m. There was a total of 116 new listings with an average of 12 days on the market without price reduction and with an average price per square foot of $912.

the Blossom Valley (San Jose) data?

March 2025

116

+31.8% Year-over-Year

65

Average Price Per SqFt

$912 New Listings

+8.2% Year-over-Year

Median Sale Price

$1.5M Closed Sales

+9.2% Year-over-Year

Average Days-on-Market

12

+16.1% Year-over-Year

Total Volume -7.7% Year-over-Year

$90.8M

+24.7% 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.

Listings

10 Average Days-on-Market $987 Average Price Per SqFt $1.6M

Median Sale Price 49 Closed Sales $79.5M 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.

19 Average Days-on Market

$695K Median Sale Price

16 Closed Sales $11.2M Total Volume

$683 Average Price Per SqFt

Luxury Listings for Sale

BY MONTH, YEAR-OVER-YEAR

(+$3,000,000 & Above)

Current Year

Previous Year

No data to displa

Luxury Contracts Signed

BY MONTH, YEAR-OVER-YEAR

(+$3,000,000 & Above)

Current Year

Previous Year

No data to displa

MONTH, YEAR-OVER-YEAR

Campbell

What's in the Campbell data?

The market for Single Family Homes, Condo, and Townhomes units saw 24 closed sales at a median price of $1.9m. There was a total of 64 new listings with an average of 13 days on the market without price reduction and with an average price per square foot of $1,232.

March 2025

64

+48.8% Year-over-Year

Average Price Per SqFt

$1,232

+15.5% Year-over-Year

24

$1.9M Median Sale Price -20% Year-over-Year

+13.6% Year-over-Year

13

$46.1M Total Volume -7.1% Year-over-Year

-8.6% 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 ListingsClosed SalesAverage Days-on-Market

36 New Listings

7 Average Days-on-Market

16 Closed Sales

$1,463

Average Price Per SqFt $2.4M

Median Sale Price

$37.7M

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.

24 Average Days-on Market

$980K Median Sale Price

8 Closed Sales

$768 Average Price Per SqFt

$8.4M Total Volume

Cupertino

What's in the Cupertino data?

The market for Single Family Homes, Condo, and Townhomes units saw 38 closed sales at a median price of $3m. There was a total of 65 new listings with an average of 9 days on the market without price reduction and with an average price per square foot of $1,522.

March 2025

New ListingsClosed SalesAverage Days-on-Market

65

+58.5% Year-over-Year

Average Price Per SqFt

$1,522

-1.4% Year-over-Year

38

$3M Median Sale Price +31% Year-over-Year

-8.3% Year-over-Year

9

$113M Total Volume -30.8% Year-over-Year

+28.2% 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.

43 New Listings

7 Average Days-on-Market

24 Closed Sales

$1,749

Average Price Per SqFt $3.6M

Median Sale Price

$30.1M

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.

Condo & Townhomes

22 New Listings

14 Closed Sales

13 Average Days-on Market

$1.3M Median Sale Price

$1,134 Average Price Per SqFt

$22.8M Total Volume

Los Altos

The market for Single Family Homes, Condo, and Townhomes units saw 32 closed sales at a median price of $5.4m. There was a total of 54 new listings with an average of 13 days on the market without price reduction and with an average price per square foot of $1,894.

What's in the Los Altos data?

March 2025

New ListingsClosed SalesAverage Days-on-Market

54

+25.6% Year-over-Year

Average Price Per SqFt

$1,894

-2.1% Year-over-Year

32

+45.5% Year-over-Year

$5.4M Median Sale Price

+27.4% Year-over-Year

+18.2% Year-over-Year

13 $173.6M Total Volume

+77.7 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.

45 New Listings

13

Average Days-on-Market

$5.6M

Median Sale Price

28 Closed Sales

$1,967

Average Price Per SqFt

$167M

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

9 New Listings

4 Closed Sale

15 Average Days-on Market

$1.6M Median Sale Price

$1,381 Average Price Per SqFt

$6.5M Total Volume

Santa Teresa (San Jose)

What's in the Santa Teresa (San

data?

The market for Single Family Homes, Condo, and Townhomes units saw 20 closed sales at a median price of $1.3m. There was a total of 44 new listings with an average of 15 days on the market without price reduction and with an average price per square foot of $891.

Jose)

March 2025

44

+69.2% Year-over-Year

$891 Average Price Per SqFt

+10.4% Year-over-Year

20

$1.3M Median Sale Price -16.7% Year-over-Year

-5.4% Year-over-Year

15 $26.3M Total Volume +15.4% Year-over-Year

-20.1% 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 ListingsClosed SalesAverage Days-on-Market

31 New Listings

10

Average Days-on-Market

13 Closed Sales

$1,007

Average Price Per SqFt $1.5M

Median Sale Price

$19.4M

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

13 New Listings

23 Average Days-on Market

$914K Median Sale Price

7 Closed Sales

$675 Average Price Per SqFt

$6.8M Total Volume

Luxury Listings for Sale

No data to displa

MONTH, YEAR-OVER-YEAR

Santa Clara City

What's in the Santa

The market for Single Family Homes, Condo, and Townhomes units saw 67 closed sales at a median price of $1.7m. There was a total of 124 new listings with an average of 16 days on the market without price reduction and with an average price per square foot of $1,173

Clara City data?

March 2025

New Listings

124

+40.9% Year-over-Year

Average Price Per SqFt

$1,173

+0.6% Year-over-Year

67

+24% Year-over-Year

Median Sale Price

$1.7M Closed Sales

+6% Year-over-Year

Average Days-on-Market

16

+33% Year-over-Year

Total Volume

$116.7M

+23.1% 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.

68 New Listings

12 Average Days-on-Market

$2M

Median Sale Price

40 Closed Sales

$1,418

Average Price Per SqFt

$85.3M

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

56 New Listings

21 Average Days-on Market

$1.2M Median Sale Price

27 Closed Sales

$810 Average Price Per SqFt

$31.3M Total Volume

Luxury Listings for Sale

South San Jose

The market for Single Family Homes, Condo, and Townhomes units saw 31 closed sales at a median price of $1.1m. There was a total of 65 new listings with an average of 9 days on the market without price reduction and with an average price per square foot of $745.

What's in the South San Jose data?

March 2025

65

+20.4% Year-over-Year

Average Price Per SqFt

$745 New Listings

+3.3% Year-over-Year

31

Median Sale Price -6% Year-over-Year

$1.1M Closed Sales

+18.9% Year-over-Year

Average Days-on-Market

9

Total Volume -55% Year-over-Year

$33.8M

+2.5% 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.

30 New Listings

7 Average Days-on-Market $841 Average Price Per SqFt $1.2M

$18.5M

Total Volume

Median Sale Price 15 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.

11 Average Days-on Market

$1M Median Sale Price

16 Closed Sales $15.2M Total Volume

$655 Average Price Per SqFt

Luxury Listings for Sale

No data to displa

Sunnyvale

What's in the Sunnyvale data?

The market for Single Family Homes, Condo, and Townhomes units saw 91 closed sales at a median price of $1.8m. There was a total of 168 new listings with an average of 14 days on the market without price reduction and with an average price per square foot of $1,329.

March 2025

168

+78.7% Year-over-Year

91

Average Price Per SqFt

$1,329 New Listings

+8.1% Year-over-Year

Median Sale Price

$1.8M Closed Sales

+5.8% Year-over-Year

+35.8% Year-over-Year

Total Volume 0% Year-over-Year

14 $190M Average Days-on-Market

+46.9% 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.

96 New Listings

12 Average Days-on-Market

$2.8M

Median Sale Price

49 Closed Sales

$1,659

Average Price Per SqFt

$134.6M

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.

17 Average Days-on Market

$1.3M Median Sale Price

42 Closed Sales

$944 Average Price Per SqFt

$55.4M Total Volume

MONTH, YEAR-OVER-YEAR

Willow Glen (San Jose)

What's

The market for Single Family Homes, Condo, and Townhomes units saw 49 closed sales at a median price of $2.3m. There was a total of 91 new listings with an average of 14 days on the market without price reduction and with an average price per square foot of $1,191.

in the Willow Glen (San Jose) data?

March 2025

New Listings

91

+75% Year-over-Year

Average Price Per SqFt

$1,191

+14.4% Year-over-Year

49

$2.3M Closed Sales Median Sale Price -7.6% Year-over-Year

+25% Year-over-Year

Total Volume -6.7% Year-over-Year

14 $113M Average Days-on-Market

+7.6% 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.

71 New Listings

10 Average Days-on-Market

42 Closed Sales

$1,253

Average Price Per SqFt $2.4M

Median Sale Price

$108M

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.

20 New Listings

36 Average Days-on Market

$746K Median Sale Price

7 Closed Sales

$816 Average Price Per SqFt

$5M Total Volume

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.

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