Bay Area - December 2022 Market Report

Whatisyour homereallyworth intoday’smarket?

This is a question we should all be asking ourselves

Our market is incredibly diverse, and changing rapidly Values may vary, not just by neighborhood, but by street Your home isn't necessarily worth what your neighbors' home is The current market is what sets the value of your home

So, do you know what your home is worth in today's market?

Contact me for a confidential, no obligation assessment of your home's value.

WhyThereWon’tBeaFlood ofForeclosuresComingtothe HousingMarket

With the rapid shift that’s happened in the housing market this year, some people are raising concerns that we’re destined to repeat the crash we saw in 2008. Though there are some parallels, the current market conditions differ significantly from those of the dot-com bubble in 2000. This time around the market presents a much more stable and secure landscape than it did previously, thanks to significantly reduced levels of foreclosure. Here’s a look at why there won’t be a wave of foreclosures flooding the market.

Napa

What's in the Napa data?

Napa’s single-family housing market increased to a $1 million median with 61 homes sold and the number of new listings decreased to 46. The number of condo and townhouse units sold increased to $732 thousand with 12 units sold and 7 new listings. Buyers have remained aggressive with offer prices persisting at around 100%. Due to only 6% of sales being finalized, the market is experiencing a supply shortage. Combined with surging demand, the cost of buying continues to increase, creating an imbalance between the pricing range and active options in the marketplace.

Single Family Homes

The median sales price has increased from $822k last year's November to $1m this year

Condos & Townhomes

The median sales price increased from $565k last November 2021 to $732k a year later.

AVGDays OntheMarket

Single Family Homes

The average days on the market has increased from 51 days of November 2021 to 63 days this November 2022.

Condos & Townhomes

The average days on the market has decreased from 40 days of November 2021 to 25 days this November 2022

Overbids

Single Family Homes

The overbid percentage has decreased from 100% record last year's November to 98.9% this year.

Condos & Townhomes

The overbid percentage has slightly increased from 100% record last year's November to 100 6% this year

Solano

What's in the Solano data?

Solano’s single-family housing market has slightly increased since last November to a $580k median. The number of homes sold decreased to 206 and the number of new listings also decreased to 228. The number of condo and townhome sales has increased to $412k with 10 units sold and 18 new listings. Buyers have remained aggressive with offer prices persisting at around 100%. Due to only 6% of sales being finalized, the market is experiencing a supply shortage. Combined with surging demand, the cost of buying continues to increase, creating an imbalance between the pricing range and active options in the marketplace.

The data, sourced from Broker Metrics, includes all single-family homes, condos and townhomes in the California Area from November 2021 to November 2022. This may include preliminary data, and may vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. 415.483.9285 DRE# 01995149 | DRE# 01906450 Copyright KW Advisors 2022. Each Office is independently owned and operated.

Single Family Homes

The median sales price has gone down from $585k last November 2021, to $580k by November 2022

Condos & Townhomes

The median sales price has slightly increased from $390k in November 2021 to $412k by November 2022.

AVGDays OntheMarket

Single Family Homes

The average days on market increased from 30 days last year to 44 days this year

Condos & Townhomes

The average days on market significantly increased from 24 days last year's November, to 39 days this year

Overbids

Single Family Homes

The overbid percentage has decreased from 100.7% last year to 100% this year's November.

Condos & Townhomes

The overbid percentage has decreased from 100 7% last year to 98 8% this year's November

Sonoma

What's in the Sonoma data?

Sonoma’s single-family housing market has slightly increased since last November to an $810k median. The number of homes sold decreased to 245 with only 181 new listings. The number of condo and townhome sales has increased to $485k with 22 units sold and 16 new listings. Buyers have remained aggressive with offer prices persisting at around 100%. Due to only 6% of sales being finalized, the market is experiencing a supply shortage. Combined with surging demand, the cost of buying continues to increase, creating an imbalance between the pricing range and active options in the marketplace.

amily Homes

245

Sold Listings

52

Avg Days on Market

The data, sourced from Broker Metrics, includes all single-family homes, condos and townhomes in the California Area from November 2021 to November 2022. This may include preliminary data, and may vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. 415.483.9285 DRE# 01995149 | DRE# 01906450 Copyright KW Advisors 2022. Each Office is independently owned and operated.

Single Family Homes

The median sales price decreased from $585k last year's November, to $580k this year

Condos & Townhomes

The median sales price has increased from $390k of November 2021 to $412k by November 2022.

AVGDays OntheMarket

Single Family Homes

The average days on market increased from 30 days last year to 44 days by November this year.

Condos & Townhomes

The average days on market slightly decreased from 24 days last year to 39 days by November this year

Overbids

Single Family Homes

The overbid percentage has slightly decreased from 100.7% last year's November, to 100% this year.

Condos & Townhomes

The overbid percentage has slightly decreased from 100 7% last year to 98 8% this year's November