KW Market Report | Dec. 2023

Market Update BAY AREA | DECEMBER 2023

Santa Clara San Mateo Alameda San Francisco

Santa Clara

County

What's in the Santa Clara data?

Santa Clara’s median sold price for single-family homes increased slightly from the previous month, $1.68 Million in November 2023 to $1.70 Million in December 2023. The number of homes sold was 461 while the number of new listings was 329. The median price for condos/ townhouses is at $880k with 140 new listings and 205 homes sold.

329 New Listings

461 Sold Listings

1.0 Months of Inventory

$1.70M Median Sale Price

103% Median Sale vs List Price

22 Avg Days on Market

SINGLE FAMILY HOMES

This data is sourced from MLS for the period 12/2022 thru 12/2023. Data may include preliminary data and may vary from the time this data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to Keller Williams Thrive or KW Santa Clara Valley. Each Office is independently owned and operated.

140 New Listings

205 Sold Listings

1.3 Months of Inventory

$880K Median Sale Price

100% Median Sale vs List Price

Santa Clara at a glance

CONDOS & TOWNHOMES

31 Avg Days on Market

LISTINGS FOR

SALE VS

SOLD LISTINGS

SANTA CLARA COUNTY | DECEMBER 2022 - DECEMBER 2023

1,000

800

600

400

200

20 23

N ov N ov

De c

O ct 20 23 O ct 20 23

20 23

Se pt 20 23 Se pt 20 23

Au g Au g

20 23

Ju l2 02 3 Ju l2 02 3

20 23 Ju n

20 23 M ay

Ap ril 20 23

20 23 M ar ch

20 22 Fe b

De c

Ja n

20 22

20 23

0

SINGLE FAMILY HOMES Last 12 months, year-over-year

500

400

300

200

100

CONDOS Last 12 months, year-over-year

20 23 De c

20 23

20 23

20 23 Ju n

20 23 M ay

Ap ril 20 23

20 23 M ar ch

20 23 Fe b

Ja n

De c

20 22

20 23

0

SANTA CLARA | DECEMBER 2023

$2,000,000

Single Family Homes The median sales price increased year over year from $1.46 Million in December 2022 to $1.70 Million in December 2023.

$1,000,000

$0

The median sales price slightly increased year over year from $879K in December 2022 to $880K in December 2023.

20 23

Fe b

Ja n

20 22

M ar 20 23 Ap r2 02 3 M ay 20 23 Ju n 20 23 Ju l2 02 3 Au g 20 23 Se pt 20 23 O ct 20 23 N ov 20 23 De c 20 23

Condos & Townhomes

20 23

$500,000

De c

MEDIAN SALES PRICE

$1,500,000

40

Single Family Homes The average days on market has gone down from 30 days last December 2022 to 22 days in December 2023

20

20 23

De c

N ov

20 23

O ct 20 23

Se pt 20 23

Au g

Ju l2 02 3

M ar 20 23

20 23

Fe b

Ja n

20 22

20 23

0

The average days on market last December 2022 was 33 days and has decreased to 31 days in December 2023

Ap r2 02 3 M ay 20 23 Ju n 20 23

Condos & Townhomes

20 23

10

De c

AVG DAYS ON MARKET

30

120%

Single Family Homes

100%

The overbid percentage has increased from 98% in December 2022 to now 102% in December 2023

80% 60%

Condos & Townhomes

20%

20 23

De c

20 23

N ov

O ct 20 23

20 23

Se p

20 23

Au g

Ju l2 02 3

Ap r2 02 3 M ay 20 23 Ju n 20 23

M ar 20 23

20 23

Fe b

20 23 Ja n

20 22

0% De c

OVERBIDS

40%

The overbid percentage has slightly increased from 99% last December 2022 to 100% a year later in December 2023

San Mateo

County

What's in the San Mateo data?

San Mateo's median sold price for single-family homes decreased month-to-month from $1.72 Million in November 2023 to $1.65 Million in December 2023. The number of homes sold was 254 while the number of new listings was 132. The median price for condos/ townhouses was $826K with 40 new listings and 66 homes sold.

132 New Listings

254 Sold Listings

1.1 Months of Inventory

$1.65M Median Sale Price

101% Median Sale vs List Price

32 Avg Days on Market

SINGLE FAMILY HOMES

This data is sourced from MLS for the period 12/2022 thru 12/2023. Data may include preliminary data and may vary from the time this data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to Keller Williams Thrive or KW Santa Clara Valley. Each Office is independently owned and operated.

40 New Listings

66 Sold Listings

2.1 Months of Inventory

$826K Median Sale Price

99% Median Sale vs List Price

San Mateo at a glance

CONDOS & TOWNHOMES

51 Avg Days on Market

LISTINGS FOR

SALE VS

SOLD LISTINGS

SAN MATEO COUNTY DECEMBER 2022 - DECEMBER 2023

600 500 400 300 200 100

20 23 De c

N ov N ov

20 23

O ct 20 23 O ct 20 23

20 23 Se p

Au g Au g

20 23

Ju l2 02 3 Ju l2 02 3

20 23 Ju n

20 23 M ay

Ap r2 02 3

M ar 20 23

20 23 Fe b

20 23 Ja n

De c

20 22

0

SINGLE FAMILY HOMES Last 12 months, year-over-year

250

200

150

100

50

CONDOS Last 12 months, year-over-year

20 23 De c

20 23

20 23 Se p

20 23

20 23 Ju n

20 23 M ay

Ap r2 02 3

20 23 M ar ch

20 23 Fe b

20 23 Ja n

De c

20 22

0

SAN MATEO COUNTY | DECEMBER 2023

$2,000,000

Single Family Homes The median sales price has increased from $1.57 Million last December 2022 to $1.65 Million in December 2023

$1,000,000

Condos & Townhomes

$500,000

Fe b

Ja n

20 22

20 23

20 23 M ar 20 23 Ap r2 02 3 M ay 20 23 Ju n 20 23 Ju l2 02 3 Au g 20 23 Se p 20 23 O ct 20 23 N ov 20 23 De c 20 23

$0 De c

MEDIAN SALES PRICE

$1,500,000

The median sales price has increased from $813k last December 2022 to $826k in December 2023

60

Single Family Homes

40

20

The average days on market has gone down from 37 days last December 2022 to 32 days in December 2023

10

Condos & Townhomes

30

20 23

De c

N ov

20 23

O ct 20 23

Se p

20 23

20 23

Au g

Ju l2 02 3

20 23 Ju n

M ay

20 23

Ap r2 02 3

M ar 20 23

20 23

Fe b

Ja n

20 22

20 23

0 De c

AVG DAYS ON MARKET

50

The average days on market last December 2022 was 48 and is now 51 in December 2023

120% 100%

Single Family Homes

80%

The overbid percentage was 99% in December 2022 and is now 101% in December 2023

60%

Condos & Townhomes

20%

20 23

De c

20 23

N ov

O ct 20 23

20 23

Se p

20 23

Au g

Ju l2 02 3

Ap r2 02 3 M ay 20 23 Ju n 20 23

M ar 20 23

20 23

Fe b

20 23 Ja n

20 22

0% De c

OVERBIDS

40%

The overbid percentage was 97% in December 2022 and is now 99% in December 2023

Alameda

County

What's in the Alameda data?

Alameda’s median sold price for single-family homes decreased slightly month-to-month from $1.22 Million in November 2023 to $1.17 Million in December 2023. The number of homes sold was 479 while the number of new listings was 287. The median price for condos/ townhouses was $640k with 110 new listings and 166 homes sold.

287 New Listings

479 Sold Listings

1.0 Months of Inventory

$1.17M Median Sale Price

105% Median Sale vs List Price

23 Avg Days on Market

SINGLE FAMILY HOMES

This data is sourced from MLS for the period 12/2022 thru 12/2023. Data may include preliminary data and may vary from the time this data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to Keller Williams Thrive or KW Santa Clara Valley. Each Office is independently owned and operated.

110 New Listings

166 Sold Listings

1.5 Months of Inventory

$640K Median Sale Price

101% Median Sale vs List Price

Alameda

at a glance

CONDOS & TOWNHOMES

37 Avg Days on Market

LISTINGS FOR

SALE VS

SOLD LISTINGS

ALAMEDA COUNTY DECEMBER 2022 - DECEMBER 2023

1,000

800

600

400

200

20 23

N ov

N ov

De c

O ct 20 23

O ct 20 23

20 23

Se pt 20 23

Se pt 20 23

Au g

Au g

20 23

Ju l2 02 3

Ju l2 02 3

20 23 Ju n

20 23 M ay

Ap r2 02 3

M ar 20 23

20 23 Fe b

20 23 Ja n

De c

20 22

0

SINGLE FAMILY HOMES Last 12 months, year-over-year

500

400

300

200

100

CONDOS Last 12 months, year-over-year

20 23 De c

20 23

20 23

20 23 Ju n

20 23 M ay

Ap r2 02 3

M ar 20 23

20 23 Fe b

20 23 Ja n

De c

20 22

0

ALAMEDA COUNTY | DECEMBER 2023

$1,400,000

Single Family Homes

$1,200,000

The median sales price has increased from $1.05 Million in December 2022 to $1.17 Million in December 2023

$800,000 $600,000

Condos & Townhomes The median sales price has decreased from $721k last December 2022 to $640k in December 2023

$400,000 $200,000

Fe b

Ja n

20 22

20 23

20 23 M ar 20 23 Ap r2 02 3 M ay 20 23 Ju n 20 23 Ju l2 02 3 Au g 20 23 Se pt 20 23 O ct 20 23 N ov 20 23 De c 20 23

$0 De c

MEDIAN SALES PRICE

$1,000,000

50

Single Family Homes The average days on market was 32 days last December 2022 and has decreased to 23 days in December 2023

30

20

Condos & Townhomes 10

20 23

The average days on market last December 2022 was 40 days and has decreased slightly to 37 days in December 2023

De c

N ov

20 23

O ct 20 23

Se pt 20 23

20 23

Au g

Ju l2 02 3

Ap r2 02 3 M ay 20 23 Ju n 20 23

M ar 20 23

20 23

Fe b

Ja n

20 22

20 23

0 De c

AVG DAYS ON MARKET

40

120%

Single Family Homes

100%

The overbid percentage was 101% in December 2022 and has increased to 104% in December 2023

80% 60%

Condos & Townhomes

20%

20 23

De c

20 23

N ov

O ct 20 23

Se pt 20 23

20 23

Au g

Ju l2 02 3

Ap r2 02 3 M ay 20 23 Ju n 20 23

M ar 20 23

20 23

Fe b

20 23 Ja n

20 22

0% De c

OVERBIDS

40%

The overbid percentage has was 99% last December 2022 and has increased to 101% in December 2023

San Francisco

County

What's in the San Francisco data?

San Francisco's median sold price for single-family homes has stayed consistent month-tomonth at $1.53 Million in October 2023 and $1.53 Million in November 2023. The number of homes sold was 194 while the number of new listings was 101. The median price for condos/ townhouses was $1.12 Million with 117 new listings and 133 homes sold.

47 New Listings

122 Sold Listings

1.3 Months of Inventory

$1.43M Median Sale Price

103% Median Sale vs List Price

39 Avg Days on Market

SINGLE FAMILY HOMES

This data is sourced from MLS for the period 11/2022 thru 11/2023. Data may include preliminary data and may vary from the time this data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to Keller Williams Thrive or KW Santa Clara Valley. Each Office is independently owned and operated.

70 New Listings

130 Sold Listings

3.1 Months of Inventory

$1.06M Median Sale Price

98% Median Sale vs List Price

CONDOS & TOWNHOMES

San Francisco

at a

glance

72 Avg Days on Market

LISTINGS FOR

SALE VS

SOLD LISTINGS

SAN FRANCISCO DECEMBER 2022 - DECEMBER 2023

500

400

300

200

100

02 3

02 3

02 3

02 3

02 3

02 3

02 3

02 3

02 3

02 3

02 3

02 3

02 3

02 3

02 3

02 3

02 3

02 3

02 3

02 3

02 2

0

SINGLE FAMILY HOMES Last 12 months, year-over-year

1,000

800

600

400

200

02 3

02 3

02 3

02 3

02 2

0

CONDOS Last 12 months, year-over-year

SAN FRANCISCO COUNTY | DECEMBER 2023

$2,000,000

Single Family Homes The median sales price has decreased from $1.52 Million in December 2022 to $1.42 Million in December 2023

$1,000,000

Condos & Townhomes The median sales price has increased from $989k last December 2022 to $1.06 Million in December 2023

$500,000

20 23 Ap r2 02 3 M ay 20 23 Ju n 20 23 Ju l2 02 3 Au g 20 23 Se p 20 23 O ct 20 23 N ov 20 23 De c 20 23

20 23

M ar ch

Fe b

Ja n

20 22

20 23

$0 De c

MEDIAN SALES PRICE

$1,500,000

80

Single Family Homes The average days on market was 36 days last December 2022 and is now 40 days in December 2023

40

20

Condos & Townhomes

20 23

De c

N ov

20 23

O ct 20 23

Se p

20 23

20 23

Au g

Ju l2 02 3

Ap r2 02 3 M ay 20 23 Ju n 20 23

M ar ch

20 23

20 23

Fe b

Ja n

20 22

20 23

0 De c

AVG DAYS ON MARKET

60

The average days on market last December 2022 was 71 days and is now at 72 days in December 2023

120% 100%

Single Family Homes

80%

The overbid percentage is up from 102% last December 2022 to now 103% in December 2023

60%

20%

Condos & Townhomes 20 23

De c

20 23

N ov

O ct 20 23

20 23

Se p

20 23

Au g

Ju l2 02 3

Ap r2 02 3 M ay 20 23 Ju n 20 23

M ar 20 23

20 23

Fe b

20 23 Ja n

20 22

0% De c

OVERBIDS

40%

The overbid percentage last December 2022 and this December 2023 remained at 98%

This data is sourced from MLS for the period 12/2022 thru 12/2023. Data may include preliminary data and may vary from the time this data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to Keller Williams Thrive and Keller Williams Santa Clara Valley Each Office is independently owned and operated.