March 2025 Market Update - Joe Han

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KW Bay Area Estates

Santa Clara County

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San Mateo County

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San Francisco County

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Alameda County

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The#1ThingSellersNeedTo KnowAboutTheirAskingPrice

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.

Smart Strategies for a Mortgage Application

Avoid paying off debts or collections without professional advice.

Don't have your credit report pulled too many times - this can hurt your credit score. 3 4 5 6 1 2

Always consult your mortgage professional before making large financial moves. Use verified funds for deposits to prevent closing delays.

March 2025

2,018

$1,145 New Listings

Average Price Per SqFt +44.7% Year-over-Year +5 6% Year-over-Year

996

16 $2.1B Average Days-on-Market Total Volume -5.9% Year-over-Year +15 9% 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

1, New 13 Aver Days $2 Med

Data include County numbers, but may contain errors and are subject to revision.

696 New Listings

331 Closed Sales

20 Average ys-on Market

1.1M an Sale Price

$818 Average Price Per SqFt

$375M Total Volume

March 2025

723

$1,136 New Listings

Average Price Per SqFt +29.8% Year-over-Year +1 0% Year-over-Year

384

$1.6M

21 $862M Average Days-on-Market Total Volume -16% Year-over-Year +12 1% 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

514 New Listings

281 Closed Sales

17 Average Days-on-Market

$2M

Median Sale Price

$1,245

Average Price Per SqFt

$751M

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.

31 Average Days-on Market

$970K Median Sale Price

103 Closed Sales

$837 Average Price Per SqFt

$110M Total Volume

March 2025

655

+12.4% Year-over-Year

Closed Sales

390

Average Days-on-Market

Average Price Per SqFt

$1,060 New Listings

+3 2% Year-over-Year

$1.4M

Median Sale Price +13% Year-over-Year -1 1% Year-over-Year

Total Volume -11.1% Year-over-Year

32 $729M

+18 7% 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

291 New Listings

187 Closed Sales

19 Average Days-on-Market

$1.8M

Median Sale Price

$1,111

Average Price Per SqFt

$473M

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.

364 New Listings

203 Closed Sales

44 Average Days-on Market

$1M Median Sale Price

$1,012 Average Price Per SqFt

$256M Total Volume

Alameda County

What's in the Alameda County data?

The market for Single Family Homes, Condo, and Townhomes units saw 839 closed sales at a median price of $1.2m. There was a total of 1,707 new listings with an average of 20 days on the market without price reduction and with an average price per square foot of $754.

March 2025

1,707

+39% Year-over-Year

Average Price Per SqFt

$754 New Listings

-0 8% Year-over-Year

839

$1.2M Closed Sales Median Sale Price

Year-over-Year +0 4% Year-over-Year

20 $1B Average Days-on-Market Total Volume

Year-over-Year +3 7% 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

204 Closed Sales

Average Price Per SqFt

162M

Total Volume

Dedic

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 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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