February 2023 - Real Estate Market Update

South Bay area

Palo Alto

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Redwood City

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Portola Valley

Jump to Portola Valley Report

Menlo Park

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Atherton

Jump to Atherton Report

Los Altos

Jump to Los Altos Report

San Jose

Jump to San Jose Report

Mountain View

Jump to Mountain View

San Mateo County

Jump to San Mateo County

Santa Clara County

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Monterey County

Jump to Monterey County Report

Santa Cruz County

Jump to Santa Cruz County Report

East Palo Alto

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Sunnyvale

Jump to Sunnyvale Report

Santa Clara City

Jump to Santa Clara City Report

Saratoga

Jump to Saratoga Report

What’syourhome reallyworthin today’smarket?

That's really the question you should be asking yourself

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

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

LowerMortgageRates AreBringingBuyers BacktotheMarket

As mortgage rates rose last year, activity in the housing market slowed down. And as a result, homes started seeing fewer offers and stayed on the market longer. That meant some homeowners decided to press pause on selling.

Now, however, rates are beginning to come down—and buyers are starting to reenter the market. In fact, the latest data from the Mortgage Bankers Association (MBA) shows mortgage applications increased last week by 7% compared to the week before.

So, if you’ve been planning to sell your house but you’re unsure if there will be anyone to buy it, this shift in the market could be your chance. Here’s what experts are saying about buyers returning to the market as we approach spring.

Mike Fratantoni, SVP and Chief Economist, MBA:

“Mortgage rates are now at their lowest level since September 2022, and about a percentage point below the peak mortgage rate last fall. As we enter the beginning of the spring buying season, lower mortgage rates and more homes on the market will help affordability for first-time homebuyers.”

Lawrence Yun, Chief Economist, National Association of Realtors (NAR):

“

The upcoming months should see a return of buyers, as mortgage rates appear to have already peaked and have been coming down since mid-November.”

Thomas LaSalvia, Senior Economist, Moody’s Analytics:

“We expect the labor market to remain robust, wages to continue to rise —maybe not at the pace that they did during the pandemic, but that will open up some opportunity for folks to enter homeownership as interest rates stabilize a bit.”

Sam Khater, Chief Economist, Freddie Mac:

“Homebuyers are waiting for rates to decrease more significantly, and when they do, a strong job market and a large demographic tailwind of Millennial renters will provide support to the purchase market.”

Bottom Line

If you’ve been thinking about making a move, now’s the time to get your house ready to sell. Contact a local real estate professional to learn about buyer demand in your area and the best time to put your house on the market.

PaloAlto

What's in the Palo Alto data?

The real estate market in Palo Alto is showing a slow yet stable performance for both single family homes and condominiums. The current inventory for single family homes stands at 58 homes for sale, providing the market with 4.7 months of supply. In January, 32 new listings came to the market and a total of 9 homes were sold, with a median sale price of $3,170,000 and a median sale over ask percentage of 95.8%. The average days on the market for single family homes in January was 53. In comparison to December, there was a slight drop in median sale price but an increase in median sale over ask percentage. In December, 13 single family homes sold with a median sale price of $2,902,000 and a median sale over ask percentage of 91.8%.

Condominiums in Palo Alto are currently facing a tight market, with only 19 units for sale and 0 months of inventory. In January, 5 new listings came to the market but no units were sold. The median sale price and the median sale over ask percentage shows a $0 due to the lack of sales. In comparison, 8 condominiums sold in December with a median sale price of $1,337,000 and a median sale over ask percentage of 95.1%.

ory

% st

9 Sold Listings

$3.2M Median Sale Price

53

mily Homes Avg Days on Market

This data was sourced from Broker Metrics on February 1st, 2023 and includes all singlefamily homes, condos, and townhomes in the California Area from January 2022 - January 2023. This may include preliminary data, and vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. Palo Alto DRE# 01511642 Copyright KW Advisors 2023. Each Office is independently owned and operated.

CONDO Condo

5 New Listings

0 Sold Listings

0 Months of Inventory

$0 Median Sale Price

Median SalesPrice

Single Family Homes

The median sales price has decreased from $3.99m last year's January to $3.2m this year.

Condos & Townhomes

There's no sold listing in January 2023 to compare with $1.68m median sold price last January 2022.

Overbids

Single Family Homes

The overbid percentage has decreased from 107.2% last year's January, to 95.8% this year.

Condos & Townhomes

There's no sold listing in January 2023 to compare with 103 4% overbid percentage recorded last January 2022

Single Family Homes

The average days on market has increased from 13 days last January 2022 to 53 days this year.

Condos & Townhomes

There's no sold listing in January 2023 to compare with 57 average days on market recorded last January 2022

Redwood City

What's in the Redwood City data?

The real estate market in Redwood City shows a high demand for single family homes and condos, as both have low inventory levels. For single family homes, there are currently 60 homes for sale, which provides the market with 1.9 months of inventory. In January, there were 30 new listings and 16 homes sold, with a median sale price of $1,865,000. The median sale over ask percentage was 93.9%, and the average days on the market was 40. This compares to December, when 28 single family homes sold with a median sale price of $2,190,000 and an average days on the market of 21.

Similarly, the market for condos in Redwood City is competitive with a total of 11 units for sale, providing the market with 1.2 months of inventory. In January, there were 3 new listings for sale and 5 condos sold, with a median sale price of $980,000. The median sale over ask percentage was 97.3% and the average days on the market was 68. In comparison, December saw 2 condos sold with a median sale price of $982,500 and an average days on the market of 51. The market trend shows a strong demand for both single family homes and condos in Redwood City.

CONDO

Condo & Townhomes

3

5 New Listings Sold Listings

1.2 Months of Inventory

$980K Median Sale Price

97.3% Median Sale vs List

68 Avg Days on Market

FOR SALE SOLD LISTINGS

Single Family Homes

Last 12 months, month-over-month.

Single Family Homes

Last 12 months, month-over-month

The median sales price has decreased from $2 25m last year's January to $1 87m this year

The median sales price has increased from $958k last January 2022 to $980k by January 2023.

Overbids

Single Family Homes

The overbid percentage has decreased from 107.8% last year's January, to 93.9% this year.

Condos & Townhomes

The overbid percentage has decreased from 102 1% of January 2022, to 97 3% a year later

Single Family Homes

The average days on market has increased from 16 days last January to 40 days this year.

Condos

The average days on market has gone up from 32 days last January to 68 days this year

Portola Valley

What's in the Portola Valley data?

The real estate market in Portola Valley has shown a steady growth in the single family home segment. Currently, there are 9 single family homes for sale, giving the market a 3-month inventory. The market saw 3 new listings in January and 3 homes were sold during the same period. The median sale price in January was $3,200,000 and the median sale over ask percentage was 99%. The average days on the market was recorded at 148 days. The market in December saw a slightly lower activity, with only 2 homes sold during the period. The median sale price during this time was $3,050,000, with an average days on the market of 64 days. The median sale over ask percentage was 66.5%. The condo market in Portola Valley has no available data.

SFH Single Family Homes

3 New Listings

3 Sold Listings

3.0 Months of Inventory

$3.2M Median Sale Price

99% Median Sale vs List

148

Avg Days on Market

This data was sourced from Broker Metrics on February 1st, 2023 and includes all singlefamily homes, condos, and townhomes in the California Area from January 2022 - January 2023. This may include preliminary data, and 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 Palo Alto DRE# 01511642 Copyright KW Advisors 2023. Each Office is independently owned and operated.

Median SalesPrice

Single

The median sales price has decreased from $6 2m last January, to $3 2m this year

Condos & Townhomes

There's no record for market activity for condos & townhouses in Portola Valley.

Overbids

Single Family Homes

The overbid percentage has slightly decreased from 99.9% of last year's January, to 99% this year.

Condos & Townhomes

There's no record for market activity for condos & townhouses in Portola Valley

The average amount of time spent on market has increased from 59 days last January 2022 to 148 days this January 2023.

There's no record for market activity for condos & townhouses in Portola Valley

Menlo Park

What's in the Menlo Park data?

The real estate market in Menlo Park has been active in both the single family home and condo segments. The market for single family homes saw a total of 39 homes for sale in January, providing a 3-month inventory. During this period, there were 22 new listings and 9 homes sold. The median sale price for single family homes in January was $2,011,000 with a median sale over ask percentage of 100.7%. The average days on the market was recorded at 48 days. The market activity in December was similar, with 21 single family homes sold. The median sale price during this period was $2,740,000, with an average days on the market of 28 days and a median sale over ask percentage of 97.8%.

The market for condos in Menlo Park had a total of 11 units for sale in January, providing the market with a 9-month inventory. In January, there were 5 new listings and 3 condos sold. The median sale price was $929,000, with a median sale over ask percentage of 97.7%. The average days on the market was recorded at 116 days. In December, only 1 condo was sold, with a median sale price of $2,100,000, an average days on the market of 43 days and a median sale over ask percentage of 97.7%.

CONDO

Condo & Townhomes

5 New Listings

3 Sold Listings

9 Months of Inventory

$929K Median Sale Price

97.7% Median Sale vs List

116 Avg Days on Market

Single Family Homes

Last 12 months, month-over-month.

Single Family Homes

Last 12 months, month-over-month

Median SalesPrice

Single

The median sales price has decreased from $3 4m last January to $2m this year

Condos

The median sales price has decreased from $1.4m last January 2022 to $929k a year later.

Overbids

The overbid percentage has decreased from 106.8% last year's January, to 100.7% this year.

Condos & Townhomes

The overbid percentage has decreased from 100 1% last year's January, to 97 7% this year

Single

The average amount of time on the market has significantly increased from 10 days in January 2022 to 48 days this January 2023.

Condos

The average time spent on the market has significantly increased from 34 days in January 2022 to 116 days this January 2023

Atherton

What's in the Atherton data?

The real estate market in Atherton is showing a positive trend for single family homes. Currently, there are 26 homes for sale, providing a 4.2-month supply of inventory. This is an increase from last month, which only had 2 homes sold. The median sale price has also gone up significantly, from $8,504,000 in December to $19,375,000 in January. This is due to the high demand for homes in the area, as the median sale over ask percentage was 89.1%. The average days on the market has also increased, from 50 in December to 68 in January. This could indicate that buyers are taking more time to make decisions, but it's still a relatively quick turnaround compared to other markets. With 14 new listings in January, it's clear that there is continued interest in buying and selling homes in Atherton.

Note: this is a luxury market so the fluctuations in data are often driven by the type of product available and sold within that local market.

s

stings

19.4M

Sale Price

8

ys on Market

This data was sourced from Broker Metrics on February 1st, 2023 and includes all singlefamily homes, condos, and townhomes in the California Area from January 2022 - January 2023. This may include preliminary data, and vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. Palo Alto DRE# 01511642 Copyright KW Advisors 2023. Each Office is

Single Family Homes

Last 12 months, month-over-month.

Single Family Homes

Last 12 months, month-over-month

Median SalesPrice

Single

Homes

OntheMarket

Homes

The average time spent on market increased from 5 days last January 2022 to 68 days by January 2023.

Single Family Homes

The overbid percentage decreased from 94.3% last January 2022 to 89.1% a year later.

Condos & Townhomes

There's no market activity this month of January for Condos & Townhouses in Atherton

LosAltos

What's in the Los Altos data?

The real estate market in Los Altos shows a high demand for both single family homes and condos. For single family homes, there were 26 homes for sale in January with 1.7 months of inventory. The market saw 16 new listings and 9 homes sold, with a median sale price of $3,473,000 and a median sale over ask percentage of 89.7%. The average days on the market was 27, which was significantly lower compared to December where 11 homes sold, the median sale price was $3,700,000, average days on the market was 47, and the median sale over ask percentage was 94%.

In the condo market, there were only 7 units for sale in January, providing a 0 month inventory. The market saw 1 new listing in January and 1 condo sold, with a median sale price of $1,450,000 and a median sale over ask percentage of 89.7%. The average days on the market was 0, which was significantly lower compared to December where 1 condo was sold, the median sale price was $2,450,000, average days on the market was 153, and the median sale over ask percentage was 100%.

This data was sourced from Broker Metrics on February 1st, 2023 and includes all singlefamily homes, condos, and townhomes in the California Area from January 2022 - January 2023. This may include preliminary data, and vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. Palo Alto DRE# 01511642 Copyright KW Advisors 2023. Each Office is

1 New Listings

1 Sold Listings

0 Months of Inventory

$1.5M Median Sale Price

89.7% Median Sale vs List

0 Avg Days on Market

Single Family Homes

Last 12 months, month-over-month.

Single Family Homes

Last 12 months, month-over-month

Median SalesPrice

Single

Overbids

Single Family Homes

The overbid rate decreased from 107 1% January 2022 to 89 7% in January 2023

Condos & Townhomes

The overbid rate decreased from 96 5% last January 2022 to 85 5% a year later

AVGDays OntheMarket Condos

The average time spent on market increased from 8 days last January 2022 to 27 days by January 2023

& Townhomes

SanJose

What's in the San Jose data?

The real estate market in San Jose shows a high demand for both single family homes and condos, with low inventory levels. For single family homes, there were 435 homes for sale in January with 1.5 months of inventory. The market saw 217 new listings and 130 homes sold, with a median sale price of $1,340,000 and a median sale over ask percentage of 95.4%. The average days on the market was 37, which was slightly higher compared to December where 230 homes sold, the median sale price was $1,332,500, average days on the market was 34, and the median sale over ask percentage was 95%.

In the condo market, there were 232 units for sale in January with 1.3 months of inventory. The market saw 124 new listings in January and 67 condos sold, with a median sale price of $792,000 and a median sale over ask percentage of 98.7%. The average days on the market was 31, which was slightly lower compared to December where 96 condos sold, the median sale price was $685,000, average days on the market was 42, and the median sale over ask percentage was 97.8%.

s

30 stings

1.3M Sale Price 7

ys on Market

This data was sourced from Broker Metrics on February 1st, 2023 and includes all singlefamily homes, condos, and townhomes in the California Area from January 2022 - January 2023. This may include preliminary data, and vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. Palo Alto DRE# 01511642 Copyright KW Advisors 2023. Each Office is

CONDO

Condo & Townhomes

124 New Listings

67 Sold Listings

1.3 Months of Inventory

$792K Median Sale Price

98.7% Median Sale vs List

31 Avg Days on Market

Single Family Homes

Last 12 months, month-over-month.

Single Family Homes

Last 12 months, month-over-month

Median SalesPrice

Single

The median sales price decreased from $1 6m in January 2022 to $1 3m in January 2023

Condos

The median sales price increased from $750k in January 2022 to $792k in January 2023.

Overbids

Single Family Homes

The overbid percentage decreased from 113.9% last January 2022 to 95.4% a year later.

Condos & Townhomes

The overbid percentage decreased from 107 6% last January 2022 to 98 7% a year later.

Single

The average time spent on market increased from 15 days last January 2022 to 37 days by January 2023.

Condos

The average time spent on market increased from 14 days in January 2022 to 31 days this year

Mountain View

What's in the Mountain View data?

The real estate market in Mountain View has seen changes in the inventory and prices of both single family homes and condos. For single family homes, there are currently 23 homes for sale, providing a 2.5-month inventory, with a median sale price of $1,980,000 in January. In the same month, 9 homes were sold with an average days on the market of 16 and a median sale over ask percentage of 98.8%. This is compared to December when 14 homes were sold with a median sale price of $2,349,000, an average days on the market of 47, and a median sale over ask percentage of 91.2%.

As for condos, there are 36 units for sale, providing a 3.1month inventory, with a median sale price of $1,180,000 in January. In the same month, 11 condos were sold with an average days on the market of 73 and a median sale over ask percentage of 96.3%. This is compared to December when 18 condos were sold with a median sale price of $1,215,000, an average days on the market of 24, and a median sale over ask percentage of 97.4%.

mily Homes

ory

9 Sold Listings

$1.98M Median Sale Price

% st

16 Avg Days on Market

This data was sourced from Broker Metrics on February 1st, 2023 and includes all singlefamily homes, condos, and townhomes in the California Area from January 2022 - January 2023. This may include preliminary data, and vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. Palo Alto DRE# 01511642 Copyright KW Advisors 2023. Each Office is independently owned and operated.

CONDO

Condo & Townhomes

18 New Listings

11 Sold Listings

3.1 Months of Inventory

$1.2M Median Sale Price

96.3% Median Sale vs List

73 Avg Days on Market

Median SalesPrice

Single

The median sales price has gone down from $3 3m last January 2022, to $1 98m by January 2023

The median sales price has decreased from $1.4m last January 2022 to $1.2m by January 2023.

Overbids

Single Family Homes

The overbid percentage has decreased from 121.1% last year to 98.8% this year.

Condos

& Townhomes

Single

The average time spent on market increased from 7 days in January 2022 to 16 days this year

SanMateo County

What's in the San Mateo County data?

The San Mateo county real estate market has seen a decrease in the available inventory of single family homes, with only 9 months of inventory currently on the market compared to 1 2 months in December. In January, there were 219 new listings, a total of 159 homes sold with a median sale price of $1,480,000. The median sale over ask percentage was 97.9% and the average days on the market was 40. This is compared to December, where 248 single family homes were sold with a median sale price of $1,539,000, an average of 37 days on the market and a median sale over ask percentage of 98.3%.

Similarly, the market for condos in San Mateo county has seen a decrease in the available inventory, with only 1 2 months available compared to 1 3 months in December In January, 93 new listings were available, with a total of 46 condos sold with a median sale price of $862,500 The median sale over ask percentage was 98 1% and the average days on the market was 52 In December, 59 condos were sold with a median sale price of $825,000, an average of 49 days on the market, and a median sale over ask percentage of 98.1%.

SFH Single Family Homes

219 New Listings

0.9 Months of Inventory

97.9% Median Sale vs List

$1.48M Median Sale Price

40

159 Sold Listings Avg Days on Market

This data was sourced from InfoSparks on February 3rd, 2023 and includes all singlefamily homes, condos and townhomes in the displayed California Area above from January 2022 to January 2023. 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 - 650 627.3700 DRE# 01995149 | DRE# 01906450 Copyright KW Advisors 2023. Each Office is independently owned and operated.

CONDO

Condo & Townhomes

93 New Listings

46 Sold Listings

1.2 Months of Inventory

$863K Median Sale Price

98.1% Median Sale vs List

52 Avg Days on Market

Median SalesPrice

Single Family Homes

The median sales price decreased from $1.9m in January 2022 to $1.5m in January 2023.

Condos & Townhomes

The median sales price decreased from $910k in January 2022 and $863k in January 2023.

Overbids

Single Family Homes

The overbid percentage decreased from 108.6% last January 2022 to 97.9% a year later.

Condos & Townhomes

The overbid percentage decreased from 101 3% last January 2022 to 98 1% a year later

Single Family Homes

The average days on market increased from 31 days last January 2022 to 40 days by January 2023.

Condos & Townhomes

The average days on market increased from 34 days in January 2022 to 52 days this year

HowInterestRate Buy-DownsCanBenefit BuyersandSellers

Interest rate buy downs can be a win-win situation for both buyers and sellers in the real estate market. A buy down is when a lender or third party provides funds to lower the interest rate on a loan. This can benefit both parties by making the home more affordable for the buyer, and by making the home more attractive to potential buyers for the seller.

For buyers, a lower interest rate means lower monthly mortgage payments, which can make buying a home more affordable. This can be especially beneficial for first-time home buyers who are trying to get into the housing market, or for those who are looking to move into a larger or more expensive home. By reducing the monthly mortgage payment, a buy down can also help buyers save money over the life of the loan, making it a wise investment.

For sellers, a lower interest rate can help make their home more appealing to potential buyers. In a low inventory market, homes that are priced competitively and have attractive financing options are more likely to sell quickly. By offering a buy down, sellers can help attract buyers who are looking for more affordable mortgage options. Additionally, a buy down can also help to differentiate the seller's home from other homes on the market, making it more attractive to potential buyers.

Overall, interest rate buy downs can provide benefits for both buyers and sellers in the real estate market. For buyers, it can make homeownership more affordable, and for sellers, it can make their home more attractive to potential buyers. It is important for both parties to understand the benefits and drawbacks of a buy down, and to work with a professional to determine if this is the right option for their specific situation.

SantaClara County

What's in the Santa Clara County data?

The real estate market in Santa Clara County shows a strong demand for both single family homes and condos In January, there were a total of 543 single family homes for sale, providing the market with .8 months of inventory. In the same month, 482 new listings were added to the market and 294 homes were sold, with a median sale price of $1,529,000. The median sale over ask percentage was 98.4% and the average days on the market was 35. Compared to December, there was a slight increase in the number of homes sold, as 461 homes were sold with a median sale price of $1,464,750, an average of 31 days on the market and a median sale over ask percentage of 98.2%.

For condos, there is a total of 263 units for sale, also providing the market with 8 months of inventory In January, there were 239 new listings added to the market and 123 condos were sold, with a median sale price of $865,000 The median sale over ask percentage was 99 3% and the average days on the market was 34 In comparison to December, the number of condos sold increased slightly, with 205 condos sold, a median sale price of $879,000, an average of 33 days on the market, and a median sale over ask percentage of 98.6%. The real estate market in Santa Clara County remains competitive, with high demand and low supply driving up prices.

SFH Single Family Homes

482 New Listings

0.8 Months of Inventory

98.4% Median Sale vs List

$1.5M Median Sale Price

35

294 Sold Listings Avg Days on Market

This data was sourced from InfoSparks on February 3rd, 2023 and includes all singlefamily homes, condos and townhomes in the displayed California Area above from January 2022 to January 2023. 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 - 650 627.3700 DRE# 01995149 | DRE# 01906450 Copyright KW Advisors 2023. Each Office is independently owned and operated.

CONDO

Condo & Townhomes

239 New Listings

123 Sold Listings

0.8 Months of Inventory

$865K Median Sale Price

99.3% Median Sale vs List

34 Avg Days on Market

Median SalesPrice

Single Family Homes

The median sales price decreased from $1 7m in January 2022 to $1 5m in January 2023

Condos & Townhomes

The median sales price increased from $850k in January 2022 and $865k in January 2023.

Overbids

Single Family Homes

The overbid percentage decreased from 112% last January 2022 to 98.4% a year later.

Condos & Townhomes

The overbid percentage decreased from 104% last January 2022 to 99.3% a year later.

Single

The average time spent on market increased from 16 days last January 2022 to 35 days by January 2023.

Condos & Townhomes

The average time spent on market increased from 21 days in January 2022 to 34 days this year

Monterey County

What's in the Monterey County data?

The real estate market in Monterey County has seen a change in the supply and demand for both single family homes and condos For single family homes, there is a current inventory of 425 homes for sale, providing 2.6 months of supply. In January, there were 95 homes sold with a median sale price of $875,000, which is higher compared to December's median sale price of $759,000. The average days on the market have slightly increased to 63, while the median sale over ask percentage remained strong at 88.9%. With 129 new listings in January, it is clear that the demand for single family homes in Monterey County continues to be high.

For condos, there is a current inventory of 56 units for sale, providing 1 1 months of supply In January, 16 condos were sold with a median sale price of $643,700, which is higher compared to December's median sale price of $574,500 The average days on the market has decreased to 53, and the median sale over ask percentage was strong at 97 4% With 17 new listings in January, it is clear that the demand for condos in Monterey County continues to be high

Overall, the real estate market in Monterey County is experiencing high demand, strong median sale prices, and low inventory for both single family homes and condos. This trend indicates that it is a good time to consider buying or selling properties in the area.

CONDO

Condo & Townhomes

17 New Listings

16 Sold Listings

1.1 Months of Inventory

$644K Median Sale Price

97.4% Median Sale vs List

53 Avg Days on Market

Last 12 months,

Median SalesPrice

Single Family Homes

The median sales price increased, from $864k in January 2022, to $875k in January 2023

Condos & Townhomes

The median sales price increased, from $733k in January 2022, to $644k in January 2023

Overbids

Single Family Homes

The overbid percentage decreased, from 98% last January 2022, to 88.9% a year later.

Condos & Townhomes

The overbid percentage decreased, from 99.5% last January 2022, to 97.4% a year later.

Single Family Homes

The average time spent on market increased from 32 days last January 2022 to 63 days by January 2023.

Condos & Townhomes

The average time spent on market increased, from 36 days in January 2022, to 53 days this year

WhyStagingYour HomeisCrucial

When it comes to selling your home, the first impression is everything. In today’s highly competitive real estate market, having a well-staged home can make all the difference in attracting potential buyers and closing the deal. Here’s why staging your home before listing it for sale is crucial.

Boosts Your Home’s Curb Appeal

Staging your home before listing it can significantly enhance its curb appeal. From decluttering to rearranging furniture, a wellstaged home creates a warm, welcoming and spacious atmosphere that appeals to potential buyers. A home that is well-staged immediately makes a strong impression, which can make buyers more likely to remember it and want to see more.

Highlights the Home’s Best Features

Staging your home allows you to highlight its best features, such as its spacious rooms, high ceilings, natural light, and more. By

creating an environment that showcases your home’s best features, you can make it more attractive to potential buyers.

Helps Potential Buyers Visualize Living in the Home

Staging your home creates a sense of warmth, comfort and style that potential buyers can relate to. This helps potential buyers visualize living in the home, and makes them more likely to want to make an offer. A wellstaged home creates an emotional connection with potential buyers, which can be a significant factor in closing the sale.

Creates a Neutral and Cohesive Look

Staging your home helps you create a neutral and cohesive look throughout the space. This can help potential buyers see your home as a blank canvas, making it easier for them to imagine how they would personalize the space to fit their needs.

Makes Your Home Stand Out in a Crowded Market

In today’s real estate market, there are many homes for sale, and many of them are competing for the same buyers. Staging your home before listing it helps make it stand out in a crowded market, and can make it more attractive to potential buyers.

In conclusion, staging your home before listing it for sale is crucial in today’s highly competitive real estate market. By creating a warm, welcoming, and well-presented home, you can make a strong impression on potential buyers, help them visualize living in the space, and make your home stand out in a crowded market. So, if you’re looking to sell your home, consider staging it first and enjoy all the benefits that come with it.

SantaCruz County

What's in the Santa Cruz County data?

The real estate market in Santa Cruz County is showing strong demand for both single family homes and condos. Single family homes currently have a total of 232 homes for sale, providing the market with 2.7 months of inventory. In January, there were 47 new listings and 56 homes sold, with the median sale price at $1,180,000. The median sale over ask percentage was 89.6% and the average days on the market was 65. This is a slight decrease in sales compared to December, where 84 single family homes were sold with a median sale price of $1,163,000 and a median sale over ask percentage of 94.6%.

For condos, there is currently a total of 43 units for sale, providing the market with 1.8 months of inventory. In January, 18 new listings came on the market and 10 condos were sold with a median sale price of $816,000. The median sale over ask percentage was 97.3% and the average days on the market was 45. This is a decrease in sales compared to December, where 20 condos were sold with a median sale price of $813,500 and a median sale over ask percentage of 98.6%.

Hamily Homes

entory

56 Sold Listings

$1.2M Median Sale Price

% s List 65

Avg Days on Market

This data was sourced from Broker Metrics on February 1st, 2023 and includes all singlefamily homes, condos, and townhomes in the California Area from January 2022 - January 2023. This may include preliminary data, and vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. Palo Alto DRE# 01511642 Copyright KW Advisors 2023. Each Office is independently owned and operated.

CONDO

Condo & Townhomes

18 New Listings

10 Sold Listings

1.8 Months of Inventory

$816K Median Sale Price

97.3% Median Sale vs List

45 Avg Days on Market

Single Family Homes

Last 12 months, month-over-month.

Single Family Homes

Last 12 months, month-over-month

Median SalesPrice

The median sales price slightly decreased, from $1 3m in January 2022, to $1 2m in January 2023

Condos & Townhomes

The median sales price decreased, from $860k in January 2022, to $816k in January 2023.

Overbids

Single Family Homes

The overbid percentage decreased, from 100.4% last January 2022, to 89.6% a year later.

Condos & Townhomes

The overbid percentage decreased, from 102 8% last January 2022, to 97 3% a year later

The average time spent on market increased, from 32 days last January 2022, to 65 days by January 2023.

The average days on market increased, from 19 days in January 2022, to 45 days this year

East PaloAlto

What's in the East Palo Alto data?

The real estate market in East Palo Alto has shown some changes in the past month. Currently, there are 11 single family homes available in the market, offering 1.8 months of inventory. In January, 2 new listings were added to the market, and 6 homes were sold with a median sale price of $105,000. The median sale over ask percentage was 85.5% and the average days on the market was 92. In comparison to December, 1 home was sold with a median sale price of $850,000 and the average days on the market was 79. The median sale over ask percentage was 85.2%. The market for single family homes in East Palo Alto is currently showing moderate changes. The condo market has been too slow to report.

This data was sourced from Broker Metrics on February 1st, 2023 and includes all singlefamily homes, condos, and townhomes in the California Area from January 2022 - January 2023. This may include preliminary data, and vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. Palo Alto DRE# 01511642 Copyright KW Advisors 2023. Each Office is

CONDO

Condo & Townhomes

1 New Listings

0 Sold Listings

0 Months of Inventory

$0 Median Sale Price

0% Median Sale vs List

0 Avg Days on Market

Single Family Homes

Last 12 months, month-over-month.

Single Family Homes

Last 12 months, month-over-month

Median SalesPrice

Single Family Homes

The median sales price decreased, from $1 2m in January 2022, to $1m in January 2023

Condos & Townhomes

There is no sold listing for Condos & Townhouses on the month of January 2023.

Overbids

Single Family Homes

The overbid percentage decreased, from 101% last January 2022, to 85.5% a year later.

Condos & Townhomes

There is no sold listing for Condos & Townhouses on the month of January 2023.

Single Family Homes

The average days on market increased, from 14 days last January 2022 to 92 days by January 2023.

Condos & Townhomes

There is no sold listing for Condos & Townhouses on the month of January 2023

Sunnyvale

What's in the Sunnyvale data?

The real estate market in Sunnyvale is showing signs of growth and increased demand. The single family homes market currently has a total of 48 homes for sale, providing the market with 1.9 months of inventory. In January, there were 33 new listings and 16 homes were sold with a median sale price of $2,205,500. The median sale over ask percentage was 94.6% and the average days on the market was 33. In comparison, during December 24 single family homes sold with a median sale price of $1,956,000, an average of 28 days on the market, and a median sale over ask percentage of 96.4%.

The condo market in Sunnyvale is also showing similar trends, with 25 units for sale, providing 1.4 months of inventory. In January, there were 14 new listings and 12 condos were sold with a median sale price of $1,155,000, and a median sale over ask percentage of 99.6%. During December, 13 condos were sold with a median sale price of $1,120,000, 26 days on the market, and a median sale over ask percentage of 97.2%.

SFH Single Family Homes

33 New Listings

16 Sold Listings

1.9 Months of Inventory

$2.2M Median Sale Price

94.6% Median Sale vs List

33

Avg Days on Market

This data was sourced from Broker Metrics on February 1st, 2023 and includes all singlefamily homes, condos, and townhomes in the California Area from January 2022 - January 2023. This may include preliminary data, and 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 Palo Alto DRE# 01511642 Copyright KW Advisors 2023. Each Office is independently owned and operated.

CONDO

Condo & Townhomes

14 New Listings

12 Sold Listings

1.4 Months of Inventory

$1.2M Median Sale Price

99.6% Median Sale vs List

30 Avg Days on Market

Median SalesPrice

Single Family Homes

The median sales price slightly increased from $2 15m in January 2022, to $2 2m in January 2023

Condos & Townhomes

The median sales price decreased from $1 4m in January 2022 and $1.2m in January 2023.

Overbids

Single Family Homes

The overbid percentage decreased, from 117.4% last January 2022 to 94.6% a year later.

Condos & Townhomes

The overbid percentage decreased, from 105.7% last January 2022, to 99.6% a year later.

Single Family Homes

The average days on market increased, from 9 days last January 2022, to 33 days by January 2023.

Condos & Townhomes

The average days on market increased, from 9 days in January 2022, to 30 days this year

Saratoga City

What's in the Saratoga data?

The real estate market in Saratoga City for both single family homes and condos showed changes from December to January. In the single family homes market, there were 26 homes for sale in January, giving the market a 5.2 month supply of inventory. In January, 7 new homes were listed and 7 homes were sold with a median sale price of $3,500,000, a median sale over ask percentage of 99.2%, and an average days on the market of 22. In comparison, 10 single family homes sold in December with a median sale price of $3,200,000, an average days on the market of 41, and a median sale over ask percentage of 95.7%.

The market for condos in Saratoga City had a 2 month supply of inventory in January with 6 units for sale. There were 2 new listings and 1 condo was sold with a median sale price of $1,950,000, a median sale over ask percentage of 88.6%, and an average days on the market of 122. In December, 2 condos were sold with a median sale price of $1,035,000, an average days on the market of 89, and a median sale over ask percentage of 94.5%.

SFH Single Family Homes

7 New Listings

7 Sold Listings

5.2 Months of Inventory

$3.5M Median Sale Price

99.2% Median Sale vs List

22

Avg Days on Market

This data was sourced from Broker Metrics on February 1st, 2023 and includes all singlefamily homes, condos, and townhomes in the California Area from January 2022 - January 2023. This may include preliminary data, and 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 Palo Alto DRE# 01511642 Copyright KW Advisors 2023. Each Office is independently owned and operated.

CONDO

Condo & Townhomes

2 New Listings

1 Sold Listings

2 Months of Inventory

$1.95M Median Sale Price

88.6% Median Sale vs List

122 Avg Days on Market

Single

Last 12 months,

Single

Last 12 months,

Median SalesPrice

Single

The median sales price decreased, from $4 2m in January 2022, to $3 5m in January 2023

Condos

The median sales price increased from $813k in January 2022 and $1.95m in January 2023.

Overbids

Single Family Homes

The overbid percentage decreased, from 113.4% last January 2022, to 99.2% a year later.

Condos & Townhomes

The overbid percentage decreased, from 98.8% last January 2022, to 88.6% a year later.

Single Family Homes

The average days on market decreased, from 45 days last January 2022, to 22 days by January 2023.

Condos & Townhomes

The average days on market peaked from 19 days in January 2022, to 122 days this year