Market Update | October 2023 Keller Williams

Market Update BAY AREA | OCTOBER 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 decreased from the previous month, $1.84 Million in September 2023 to $1.80 Million in October 2023. The number of homes sold was 649 while the number of new listings was 743. The median price for condos/ townhouses is at $980k with 376 new listings and 273 homes sold.

743 New Listings

649 Sold Listings

1.2 Months of Inventory

$1.80M Median Sale Price

104% Median Sale vs List Price

19 Avg Days on Market

SINGLE FAMILY HOMES

This data is sourced from MLS for the period 10/2022 thru 10/2023. 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.

376 New Listings

273 Sold Listings

1.7 Months of Inventory

$980K Median Sale Price

102% Median Sale vs List Price

Santa Clara at a glance

CONDOS & TOWNHOMES

20 Avg Days on Market

LISTINGS FOR

SALE VS

SOLD LISTINGS

SANTA CLARA COUNTY | OCTOBER 2022 - OCTOBER 2023

1,200 1,000 800 600 400 200

O ct 20 23

Se pt 20 23

20 23 Au g

Ju l2 02 3

20 23 Ju n

20 23 M ay

Ap ril 20 23

M ar ch

20 23

20 22 Fe b

20 23 Ja n

20 22 De c

N ov

O ct 20 22

20 22

0

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

500

400

300

200

100

CONDOS Last 12 months, year-over-year

O ct 20 23

Se pt 20 23

20 23 Au g

Ju l2 02 3

20 23 Ju n

20 23 M ay

Ap ril 20 23

20 23 M ar ch

20 23 Fe b

20 23 Ja n

20 22 De c

20 22 N ov

O ct 20 22

0

SANTA CLARA | OCTOBER 2023

$2,000,000

Single Family Homes The median sales price increased year over year from $1.58 Million in October 2022 to $1.80 Million in October 2023.

$1,000,000

Condos & Townhomes

$500,000

$0

O ct 20 22 N ov 20 22 De c 20 22 Ja n 20 23 Fe b 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

MEDIAN SALES PRICE

$1,500,000

The median sales price increased year over year from $891K in October 2022 to $980K in October 2023.

40

Single Family Homes

20

The average days on market has gone down from 28 days last October 2022 to 19 days in October 2023

10

Condos & Townhomes

0

The average days on market last October 2022 was 26 days and has decreased to 20 days in October 2023

O ct 20 23

Se pt 20 23

Au g

20 23

Ju l2 02 3

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

M ar 20 23

Fe b

20 23

20 23 Ja n

20 22

De c

20 22

N ov

O ct 20 22

AVG DAYS ON MARKET

30

120%

Single Family Homes

100%

The overbid percentage has increased from 99% in October 2022 to now 104% in October 2023

80% 60%

Condos & Townhomes

20%

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

De c

N ov

20 22

0% O ct 20 22

OVERBIDS

40%

The overbid percentage has slightly increased from 100% last October 2022 to 102% a year later in October 2023

San Mateo

County

What's in the San Mateo data?

San Mateo's median sold price for single-family homes increased month-to-month from $1.83 Million in September 2023 to $1.95 Million in October 2023. The number of homes sold was 307 while the number of new listings was 383. The median price for condos/ townhouses was $910K with 100 new listings and 83 homes sold.

383 New Listings

307 Sold Listings

1.9 Months of Inventory

$1.95M 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 10/2022 thru 10/2023. 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.

100 New Listings

83 Sold Listings

2.7 Months of Inventory

$910K Median Sale Price

100% Median Sale vs List Price

San Mateo at a glance

CONDOS & TOWNHOMES

39 Avg Days on Market

LISTINGS FOR

SALE VS

SOLD LISTINGS

SAN MATEO COUNTY OCTOBER 2022 - OCTOBER 2023

700 600 500 400 300 200 100

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

M ay M ay

20 23

Ap r2 02 3 Ap r2 02 3

M ar 20 23

20 23 Fe b

20 23 Ja n

20 22 De c

20 22 N ov

O ct 20 22

0

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

250

200

150

100

50

CONDOS Last 12 months, year-over-year

O ct 20 23

20 23 Se p

20 23

20 23

20 23 Ju n

M ar ch

20 23

20 23 Fe b

20 23 Ja n

20 22 De c

20 22 N ov

O ct 20 22

0

SAN MATEO COUNTY | OCTOBER 2023

$2,000,000

Single Family Homes The median sales price has increased from $1.82 Million last October 2022 to $1.95 Million in October 2023

$1,000,000

Condos & Townhomes

$500,000

$0

O ct 20 22 N ov 20 22 De c 20 22 Ja n 20 23 Fe b 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

MEDIAN SALES PRICE

$1,500,000

The median sales price has decreased from $931k last October 2022 to $910k in October 2023

Single Family Homes 40

The average days on market has gone down from 27 days last October 2022 to 22 days in October 2023

20

Condos & Townhomes O ct 20 23

20 23

Se p

Au g

20 23

Ju l2 02 3

20 23 Ju n

20 23

M ay

Ap r2 02 3

M ar 20 23

20 23

Fe b

Ja n

20 22

De c

20 22

N ov

20 23

0

O ct 20 22

AVG DAYS ON MARKET

60

The average days on market last October 2022 was 33 and is now 39 in October 2023

120% 100%

Single Family Homes

80%

The overbid percentage was 100% in October 2022 and is now 103% in October 2023

60%

Condos & Townhomes

20%

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

De c

N ov

20 22

0% O ct 20 22

OVERBIDS

40%

The overbid percentage was 99% in October 2022 and is now 100% in October 2023

Alameda

County

What's in the Alameda data?

Alameda’s median sold price for single-family homes increased slightly month-to-month from $1.30 Million in September 2023 to $1.22 Million in October 2023. The number of homes sold was 624 while the number of new listings was 812. The median price for condos/ townhouses was $722k with 262 new listings and 196 homes sold.

812 New Listings

624 Sold Listings

1.5 Months of Inventory

$1.22M Median Sale Price

108% Median Sale vs List Price

18 Avg Days on Market

SINGLE FAMILY HOMES

This data is sourced from MLS for the period 10/2022 thru 10/2023. 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.

262 New Listings

196 Sold Listings

2.4 Months of Inventory

$722K Median Sale Price

103% Median Sale vs List Price

Alameda

at a glance

CONDOS & TOWNHOMES

23 Avg Days on Market

LISTINGS FOR

SALE VS

SOLD LISTINGS

ALAMEDA COUNTY OCTOBER 2022 - OCTOBER 2023

1,400 1,200 1,000 800 600 400 200

Se pt 20 23

O ct 20 23

Se pt 20 23

O ct 20 23

Au g

Au g

20 23

Ju l2 02 3

Ju l2 02 3

20 23 Ju n

M ay

M ay

20 23

Ap r2 02 3

Ap r2 02 3

M ar 20 23

20 23 Fe b

20 23 Ja n

20 22 De c

N ov

O ct 20 22

20 22

0

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

600 500 400 300 200 100

CONDOS Last 12 months, year-over-year

20 23

20 23 Ju n

20 23

M ar 20 23

20 23 Fe b

20 23 Ja n

20 22 De c

20 22 N ov

O ct 20 22

0

ALAMEDA COUNTY | OCTOBER 2023

Single Family Homes The median sales price has increased from $1.20 Million in October 2022 to $1.22 Million in October 2023

$1,000,000

Condos & Townhomes

$500,000

The median sales price has increased from $706k last October 2022 to $722k in October 2023

$0

O ct 20 22 N ov 20 22 De c 20 22 Ja n 20 23 Fe b 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

MEDIAN SALES PRICE

$1,500,000

50

Single Family Homes The average days on market was 28 days last October 2022 and has decreased to 18 days in October 2023

30

20

Condos & Townhomes 10

O ct 20 23

Se pt 20 23

Au g

20 23

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

De c

20 22

N ov

20 23

0

O ct 20 22

AVG DAYS ON MARKET

40

The average days on market last October 2022 was 32 days and has decreased slightly to 23 days in October 2023

120%

Single Family Homes

100%

The overbid percentage was 104% in October 2022 and has increased to 108% in October 2023

80% 60%

Condos & Townhomes

20%

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

De c

N ov

20 22

0% O ct 20 22

OVERBIDS

40%

The overbid percentage has was 99% last October 2022 and has increased to 103% in October 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 $1.57 Million in September 2023 and $1.65 Million in October 2023. The number of homes sold was 199 while the number of new listings was 246. The median price for condos/ townhouses was $1.11 Million with 262 new listings and 164 homes sold.

246 New Listings

199 Sold Listings

2.2 Months of Inventory

$1.65M Median Sale Price

108% Median Sale vs List Price

22 Avg Days on Market

SINGLE FAMILY HOMES

This data is sourced from MLS for the period 10/2022 thru 10/2023. 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.

262 New Listings

164 Sold Listings

4.9 Months of Inventory

$1.11M Median Sale Price

99.9% Median Sale vs List Price

CONDOS & TOWNHOMES

San Francisco

at a

glance

46 Avg Days on Market

LISTINGS FOR

SALE VS

SOLD LISTINGS

SAN FRANCISCO OCTOBER 2022 - OCTOBER 2023

500

400

300

200

100

0

Oct 2022 Nov 2022 Dec 2022 Jan 2023 Feb 2023 Mar 2023 Apr 2023 May 2023 Jun 2023

Jul 2023 Aug 2023 Sep 2023 Oct 2023

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

1,000

800

600

400

200

0

Oct 2022 Nov 2022 Dec 2022 Jan 2023 Feb 2023 Mar 2023 Apr 2023 May 2023 Jun 2023

CONDOS Last 12 months, year-over-year

Jul 2023 Aug 2023 Sep 2023 Oct 2023

SAN FRANCISCO COUNTY | OCTOBER 2023

$2,000,000

Single Family Homes The median sales price has decreased from $1.67 Million in October 2022 to $1.65 Million in October 2023

$1,000,000

Condos & Townhomes The median sales price has decreased from $1.20 Million last October 2022 to $1.11 Million in October 2023

$500,000

$0

O ct 20 22 N ov 20 22 De c 20 22 Ja n 20 23 Fe b 20 23 M ar ch 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

MEDIAN SALES PRICE

$1,500,000

80

Single Family Homes The average days on market was 27 days last October 2022 and is now down to 22 days in October 2023

40

20

Condos & Townhomes

O ct 20 23

20 23

Se p

Au g

20 23

Ju l2 02 3

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

20 23

20 23

M ar ch

Fe b

Ja n

20 22

De c

20 22

N ov

20 23

0

O ct 20 22

AVG DAYS ON MARKET

60

The average days on market last October 2022 was 43 days and is now up to 46 days in October 2023

120% 100%

Single Family Homes

80%

The overbid percentage is up from 107% last October 2022 to now 108% in October 2023

60%

20%

Condos & Townhomes 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

De c

N ov

20 22

0% O ct 20 22

OVERBIDS

40%

The overbid percentage has gone down from 100% last October 2022 to 99% a year later in October 2023

This data is sourced from MLS for the period 10/2022 thru 10/2023. 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.