Joseph Karakas - May 2025 Market Update

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KW Bay Area Estates

LosGatos/MonteSereno

Jump to Los Gatos/Monte Sereno Report

Jump to Cambrian (San Jose) Report Cambrian(SanJose)

Jump to Saratoga Report Saratoga

Jump to Santa Clara County Report SantaClaraCounty

Jump to Almaden Valley (San Jose) Report Almaden Valley (San Jose)

Jump to Blossom Valley (San Jose) Report BlossomValley(SanJose)

Jump to Campbell Report Campbell

Jump to Cupertino Report Cupertino

Jump to Los Altos Report LosAltos

Jump to Santa Teresa (San Jose) Report Santa Teresa (San Jose)

Jump to Santa Clara City Report SantaClaraCity

Jump to South San Jose Report SouthSanJose

Jump to Sunnyvale Report Sunnyvale

Jump to Willow Glen (San Jose) Report WillowGlen(SanJose)

WhyBuyingRealEstateIsStillthe BestLong-TermInvestment

Lately, it feels like every headline about the housing market comes with a side of doubt. Are prices going up or down? Are we headed for a crash? Will rates ever come down? And all the media noise may leave you wondering: does it really make sense to buy a home right now?

But here’s one thing that doesn’t get enough airtime. Real estate has always been about the long game. And when you look at the big picture, not just the latest clickbait headlines, it’s easy to see why so many people say it’s still the best investment you can make –even now.

Los Gatos/Monte Ser

The market for Single Family Homes, Condo, and Townhomes units saw 53 closed sales at a median price of $2.7m. There was a total of 62 new listings with an average of 31 days on the market without price reduction and with an average price per square foot of $1,234.

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

May 2025

62

-4.6% Year-over-Year

Average Price Per SqFt

$1,234

-3 5% Year-over-Year

53

$2.7M Median Sale Price 0% Year-over-Year +5 8% Year-over-Year

31 $147M Total Volume +47.6% 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 Listings

47 New Listings

30 Average Days-on-Market

$3M

Median Sale Price

38 Closed Sales

$1,384

Average Price Per SqFt

$127.7M

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.

15 New Listings

34 Average Days-on Market

$1.3M Median Sale Price

15 Closed Sales $19.2M Total Volume

$855 Average Price Per SqFt

Luxury Listings for Sale

Cambrian (San Jose)

What's

The market for Single Family Homes, Condo, and Townhomes units saw 45 closed sales at a median price of $1.9m. There was a total of 82 new listings with an average of 13 days on the market without price reduction and with an average price per square foot of $1,173.

in the Cambrian (San Jose) data?

May 2025

New Listings Closed Sales

82

+13.9% Year-over-Year

Average Price Per SqFt

$1,173

+2% Year-over-Year

45

$1.9M Median Sale Price -31.8% Year-over-Year

+8 4% Year-over-Year

Average Days-on-Market

13

$89.5M Total Volume +30% Year-over-Year -26 3% 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

71 New Listings

42 Closed Sales

14 Average Days-on-Market $1,207

Average Price Per SqFt $1.9M

Median Sale Price

$87.3M

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.

12 Average Days-on Market

$600K Median Sale Price

3 Closed Sales

$695 Average Price Per SqFt

$2.2M Total Volume

Saratoga

What's in the Saratoga data?

The market for Single Family Homes, Condo, and Townhomes units saw 36 closed sales at a median price of $4.3m. There was a total of 54 new listings with an average of 19 days on the market without price reduction and with an average price per square foot of $1,444.

2025

54

+17.4% Year-over-Year -8 9% Year-over-Year

$1,444 Average Price Per SqFt

36 $4.3M Median Sale Price -2.7% Year-over-Year +11 9% Year-over-Year

19 $155.8M Total Volume +72.7% Year-over-Year +3 6% Year-over-Year

38 New Listings

32 Closed Sales

17 Average Days-on-Market $1,510

Average Price Per SqFt

$4.4M

Median Sale Price

$151.7M

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.

33 Average Days-on Market

$912K Median Sale Price

4 Closed Sale

$910 Average Price Per SqFt

$4M Total Volume

Luxury Listings for Sale

Santa Clara County

The market for Single Family Homes, Condo, and Townhomes units saw 1,060 closed sales at a median price of $1.7m. There was a total of 1,926 new listings with an average of 16 days on the market without price reduction and with an average price per square foot of $1,133.

What's in the Santa Clara County data?

May 2025

1,926

+5.5% Year-over-Year

Average Price Per SqFt

$1,133

-0 9% Year-over-Year

1,060

$1.7M Median Sale Price -21.1% Year-over-Year +3 1% Year-over-Year

20 $2.2B Total Volume +42.9% Year-over-Year -17 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 New Listings

Single Family Homes

1,319

New Listings

18 Average Days-on-Market

$2.1M

Median Sale Price

770

Closed Sales

$1,259

Average Price Per SqFt

$1.9B

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.

600 New Listings

24 Average Days-on Market

$981K Median Sale Price

290 Closed Sales

$797 Average Price Per SqFt

$313M Total Volume

Luxury Listings for Sale

Almaden Valley (San

What's in the

The market for Single Family Homes, Condo, and Townhomes units saw 25 closed sales at a median price of $2.3m. There was a total of 49 new listings with an average of 17 days on the market without price reduction and with an average price per square foot of $1,042.

Almaden Valley (San Jose) data?

2025

49

$1,042 Average Price Per SqFt -7.6% Year-over-Year +5 4% Year-over-Year 25

$2.3M Median Sale Price -47.9% Year-over-Year +0 8% Year-over-Year 17 $55M

6% Year-over-Year

43 New Listings

16 Average Days-on-Market

22 Closed Sales

$1,081

Average Price Per SqFt $2.4M

Median Sale Price

$50.9M

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.

6 New Listings

25 Average Days-on Market

$1.2M Median Sale Price

3 Closed Sales

$756 Average Price Per SqFt

$4.1M Total Volume

Blossom Valley (San

What's in the

The market for Single Family Homes, Condo, and Townhomes units saw 48 closed sales at a median price of $1.4m. There was a total of 120 new listings with an average of 18 days on the market without price reduction and with an average price per square foot of $822.

Blossom Valley (San Jose) data?

May 2025

120

+2.6% Year-over-Year

Average Price Per SqFt

$822 New Listings

-8 1% Year-over-Year

48

$1.4M Closed Sales Median Sale Price -44.8% Year-over-Year -8%Year-over-Year

18

Total Volume +63.6% Year-over-Year

$62.6M Average Days-on-Market

-46 8% 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

$750K Median Sale Price

15 Closed Sales $10.5M Total Volume

$636 Average Price Per SqFt

Luxury Listings for Sale

Campbell

What's in the Campbell data?

The market for Single Family Homes, Condo, and Townhomes units saw 37 closed sales at a median price of $1.7m. There was a total of 60 new listings with an average of 20 days on the market without price reduction and with an average price per square foot of $1,051.

May 2025

$1,051 Average Price Per SqFt

+5.3% Year-over-Year -10 4% Year-over-Year 37

$1.7M Median Sale Price -9.7% Year-over-Year -6 3% Year-over-Year

20 $65.3M Total Volume +100% Year-over-Year -16 5% Year-over-Year

39 New Listings

21 Average Days-on-Market $1,197

Average Price Per SqFt $2.1M

$52.6M

Total Volume

Median Sale Price 24 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.

18 Average Days-on Market

$915K Median Sale Price

13 Closed Sales

$780 Average Price Per SqFt

$12.7M Total Volume

Cupertino

What's in the Cupertino data?

The market for Single Family Homes, Condo, and Townhomes units saw 32 closed sales at a median price of $2.6m. There was a total of 51 new listings with an average of 13 days on the market without price reduction and with an average price per square foot of $1,511.

May 2025

-7.3% Year-over-Year

$1,511 Average Price Per SqFt

-5 1% Year-over-Year

32

$2.6M Median Sale Price -23.8% Year-over-Year +5% Year-over-Year

13 $87M Total Volume 0% Year-over-Year -17 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 35 New Listings

20 Closed Sales

13

Average Days-on-Market

$3.4M

Median Sale Price

$1,732

Average Price Per SqFt

$68.3M

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

15 New Listings

12 Closed Sales

15 Average Days-on Market

$1.4M Median Sale Price

$1,143 Average Price Per SqFt

$18.6M Total Volume

Luxury Listings for

Los Altos

What's in the Los

The market for Single Family Homes, Condo, and Townhomes units saw 34 closed sales at a median price of $4.3m. There was a total of 51 new listings with an average of 14 days on the market without price reduction and with an average price per square foot of $1,847.

Altos data?

2025

51

$1,847 Average Price Per SqFt -1.9% Year-over-Year +6 2% Year-over-Year 34 $4.3M Median Sale Price -22.7% Year-over-Year +7 5% Year-over-Year

14 $152.2M Total Volume 0% Year-over-Year -12 9% Year-over-Year

42 New Listings

12 Average Days-on-Market

$4.5M

Median Sale Price

29 Closed Sales

$1,907

Average Price Per SqFt

$141.5M

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

5 Closed Sales

23 Average Days-on Market

$2.1M Median Sale Price

$1,498 Average Price Per SqFt

$10.6M Total Volume

Luxury Listings for Sale

Santa Teresa (San Jo

What's in the

The market for Single Family Homes, Condo, and Townhomes units saw 26 closed sales at a median price of $1.3m. There was a total of 38 new listings with an average of 27 days on the market without price reduction and with an average price per square foot of $818.

Santa Teresa (San Jose) data?

2025

38

$818 Average Price Per SqFt -9.5% Year-over-Year -3 2% Year-over-Year 26

$1.3M Median Sale Price -18.8% Year-over-Year -2% Year-over-Year

27

$36.8M Total Volume +92.9% Year-over-Year -15 1% Year-over-Year

$32.6M Total Volume

54 Average Days-on Market

$950K Median Sale Price

4 Closed Sales

$644 Average Price Per SqFt

$4.1M Total Volume

Luxury Listings for Sale

Santa Clara City

What's in the Santa

The market for Single Family Homes, Condo, and Townhomes units saw 74 closed sales at a median price of $1.6m. There was a total of 98 new listings with an average of 21 days on the market without price reduction and with an average price per square foot of $1,107.

Clara City data?

May 2025

98

Average Price Per SqFt -13.3% Year-over-Year

$1,107 New Listings

-6 5% Year-over-Year

74

$1.6M Closed Sales Median Sale Price -14% Year-over-Year -0 8% Year-over-Year

21 $120.2M Average Days-on-Market Total Volume +90.9%Year-over-Year -20 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

Listings

16 Average Days-on-Market $1,349 Average Price Per SqFt $1.9M

$92.5M

Total Volume

Median Sale Price 45 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.

35 New Listings

30 Average Days-on Market

$850K Median Sale Price

29 Closed Sales $27.7M Total Volume

$731 Average Price Per SqFt

Luxury Listings for Sale

South San Jose

What's in the South San

The market for Single Family Homes, Condo, and Townhomes units saw 38 closed sales at a median price of $1m There was a total of 73 new listings with an average of 16 days on the market without price reduction and with an average price per square foot of $731.

Jose data?

May 2025

73

-4% Year-over-Year

Average Price Per SqFt

$731 New Listings

-0 6 Year-over-Year

38 $1M Closed Sales Median Sale Price -19.2% Year-over-Year -4 8% Year-over-Year

16

$42.6M Average Days-on-Market Total Volume -20% Year-over-Year -16 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

Average Price Per SqFt $1.1M Median Sale Price 22 Closed Sales

$27.5M

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.

16 Closed Sales

13 Average Days-on Market $641 Average Price Per SqFt

$967K Median Sale Price

$15M Total Volume

Luxury Listings for Sale

Nodatatodispla

Sunnyvale

What's in the Sunnyvale data?

The market for Single Family Homes, Condo, and Townhomes units saw 78 closed sales at a median price of $2.3m. There was a total of 129 new listings with an average of 17 days on the market without price reduction and with an average price per square foot of $1,322.

May 2025

New Listings

129

-3% Year-over-Year

Average Price Per SqFt

$1,322

-4% Year-over-Year

78

$2.3M Closed Sales

Median Sale Price -17.9% Year-over-Year +22 1% Year-over-Year

17

$169.8M Average Days-on-Market

Total Volume +70% Year-over-Year -14 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

75 New Listings

14 Average Days-on-Market

$2.7M

Median Sale Price

53 Closed Sales

$1,533

Average Price Per SqFt

$140.8M

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.

24 Average Days-on Market

$1.2M Median Sale Price

25 Closed Sales

$876 Average Price Per SqFt

$28.9M Total Volume

Willow Glen (San Jos

What's

The market for Single Family Homes, Condo, and Townhomes units saw 56 closed sales at a median price of $2.1m. There was a total of 91 new listings with an average of 15 days on the market without price reduction and with an average price per square foot of $1,123.

in the Willow Glen (San Jose) data?

May 2025

New Listings

91

0% Year-over-Year

Average Price Per SqFt

$1,123

+3 7% Year-over-Year

56

$2.1M Closed Sales Median Sale Price -15.2% Year-over-Year

+10 8% Year-over-Year

15 $124.8M Average Days-on-Market

Total Volume +15.4% Year-over-Year -9 3% 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

79 New Listings

15 Average Days-on-Market

$2.1M

Median Sale Price

50 Closed Sales

$1,163

Average Price Per SqFt

$118.9M

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.

17 Average Days-on Market

$1M Median Sale Price

6 Closed Sales

$793 Average Price Per SqFt

$5.8M 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 Commercial South Bay.

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 10,000 transactions, totalling more than $13 billion in closed sales volume.

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 distributed to their associates over $2.7 million in profit share.

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