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Market report for Palo Alto area January 2023

Page 1


Palo

Alto area

Palo Alto

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Redwood City

Jump to Redwood City Report

Portola Valley

Jump to Portola Valley Report

Menlo Park

Jump to Menlo Report

Atherton

Jump to Atherton Report

Los Altos

Jump to Los Altos

San Jose

Jump to San Jose

Mountain View

Jump to Mountain View

San Mateo County

Jump to San Mateo County

Santa Clara County

Jump to Santa Clara County

Monterey County

Jump to Monterey County Report

Santa Cruz County

Jump to Santa Cruz County Report

Jump to East Palo Alto Report East Palo Alto

Sunnyvale

Jump to Sunnyvale 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?

Icanhelp...

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

WhatAreYourGoals intheHousingMarket ThisYear?

If buying or selling a home is one of your New Year’s resolutions, it’s essential for you to understand today’s housing market. Define your goals, and work with industry experts to bring your home ownership vision for the new year into focus.

MonthlyMarketUpdate

January 2023

Slower Wage Growth Data Boosts Bonds

The Bureau of Labor Statistics (BLS) reported that there were 223,000 jobs created in December, which was stronger than expectations of 200,000 job gains

Stronger Than Expected Private Sector Job Growth in December

The ADP Employment Report, which measures private sector payrolls, showed that there were 235,000 jobs created in December.

Jobless Claims Decline But Holidays Likely Skewed

Data

The number of people filing for unemployment benefits for the first time fell by 19,000 in the latest week, as 204,000 Initial Jobless Claims were reported

Home Prices Still Expected to Appreciate This Year

CoreLogic released their Home Price Index report for November, showing that home prices fell by 0 2% from October but they were 8 6% higher when compared to November of last year

IMF Issues Recession Warning

The International Monetary Fund (IMF) issued a recession warning for this year, with Managing Director Kirstalina Georgieva, saying, "We expect one third of the world economy to be in recession " While the IMF did not include the U S in recession, she said that 2023 will be a "tougher" year than 2022 because "the three big economies, US, EU, and China, are all slowing down simultaneously "

If the U S does end up in a recession, we will likely have much more than a third of the globe in a recession, as the U S makes up a huge part of global GDP

PaloAlto

What's in the Palo Alto data?

Palo Alto's single-family housing market saw a decrease to a $2.9 million median sold price. There were 13 units sold and 4 new listings. The condo & townhome market declined month-over-month with 2 new listings, and 8 sales totaling approximately $1.3 million. Buyers have remained aggressive with their offer prices remaining at around 100%. Due to only 6% of home purchases being completed, the market has seen a decrease in supply. Combine these factors with the surging demand, and the cost of buying continues being pushed up. This is creating an imbalance between the pricing range and active options in the marketplace.

mily Homes

Median Sale Price % st 57 13 Sold Listings

$2.9M

ory

Avg Days on Market

The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from December 2021 to December 2022. 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.

2 New Listings

8 Sold Listings

6.5 Months of Inventory

$1.3M Median Sale Price 95.1% Median Sale vs List 135 Avg Days on Market

Single Family Homes

The median sales price has decreased from $3.9m last year's December to $2.9m this year.

Condos & Townhomes

The median sales price has decreased from $1 5m last December 2021 to $1.3m by December 2022.

AVGDays OntheMarket

Single Family Homes

The average days on market has increased from 28 days last December to 57 days this year.

Condos & Townhomes

The average days on market has gone up from 61 days last December, to 135 days this year

Overbids

Single Family Homes

The overbid percentage has decreased from 102.1% last year's December, to 91.8% this year.

Condos & Townhomes

The overbid percentage decreased from 97 4% of December 2021, to 95 1% a year later

Redwood City

What's in the Redwood City data?

Redwood City's single-family housing market saw an increase to a $2.1 million median sold price. There were 28 units sold and 12 new listings. The condo & townhome market declined month-over-month with 3 new listings, and 2 sales totaling approximately $928k. Buyers have remained aggressive with their offer prices remaining at around 100%. Due to only 6% of home purchases being completed, the market has seen a decrease in supply. Combine these factors with the surging demand, and the cost of buying continues being pushed up. This is creating an imbalance between the pricing range and active options in the marketplace.

3

2 New Listings Sold Listings

0.9 Months of Inventory $928K Median Sale Price 90.4%

Median Sale vs List 51 Avg Days on Market

Median SalesPrice

Single Family Homes

The median sales price has increased from $1 9m last year's December to $2 1m this year

Condos & Townhomes

The median sales price has decreased from $1.1m last December 2021 to $928k by December 2022.

AVGDays OntheMarket

Single Family Homes

The average days on market has increased from 23 days last December to 32 days this year.

Condos & Townhomes

The average days on market has gone up from 22 days last December to 51 days this year

Overbids

Single Family Homes

The overbid percentage has decreased from 108.7% last year's December, to 90.60% this year.

Condos & Townhomes

The overbid percentage has decreased from 104% of December 2021, to 90 4% a year later

Portola Valley

What's in the Portola Valley data?

Portola Valley's single-family housing market saw a decreased to a $3 million median sold price. There were 2 units sold and 0 new listings. The condo & townhome market declined month-over-month with 0 new listings, and 0 sales totaling approximately $0. Buyers have remained aggressive with their offer prices remaining at around 100%. Due to only 6% of home purchases being completed, the market has seen a decrease in supply. Combine these factors with the surging demand, and the cost of buying continues being pushed up. This is creating an imbalance between the pricing range and active options in the marketplace.

Single Family Homes

0 New Listings

2 Sold Listings

2 Months of Inventory

$3M Median Sale Price

66.5%

Median Sale vs List

64

Avg Days on Market

The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from December 2021 to December 2022. 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.

Single Family Homes

The median sales price has decreased from $5 9m last December, to $3m this year

Condos & Townhomes

The median sales price remained the same as last December at $0.

AVGDays OntheMarket

Single Family Homes

The average amount of time spent on market has decreased from 68 days last December to 64 days this December.

Condos & Townhomes

The average days on market is almost the same from December last year's 0 days to 0 days this year

Overbids

Single Family Homes

The overbid percentage has decreased from 97.2% of last year's December, to 66.5% this year.

Condos & Townhomes

The overbid percentage is same from last year's December of 0% to this year's 0%

Menlo Park

What's in the Menlo Park data?

Menlo Park's single-family housing market saw a decreased to a $2.6 million median sold price. There were 18 units sold and 10 new listings. The condo & townhome market inclined monthover-month with 0 new listings, and 1 sale totaling approximately $2.1 million. Buyers have remained aggressive with average offer prices remaining at around 100%. Due to only 6% of home purchases being completed, the market has seen a decrease in supply. Combine these factors with the surging demand, and the cost of buying continues being pushed up. This is creating an imbalance between pricing range and active options in the marketplace.

0

New Listings

1 Sold Listings

5 Months of Inventory

$2.1M

Median Sale Price 91.3%

Median Sale vs List

43 Avg Days on Market

Median SalesPrice

Single Family Homes

The median sales price has decreased from $3 1m last December to $2 6m this year

Condos & Townhomes

The median sales price has increased from $1.5m last December 2021 to $2.1m a year later.

AVGDays OntheMarket

Single Family Homes

The average amount of time on the market has decreased from 38 days in December 2021 to 28 days this December 2022.

Condos & Townhomes

The average time spent on the market has increased from 33 days in December 2021 to 43 days this December 2022

Overbids

Single Family Homes

The overbid percentage has decreased from 105.1% last year's December, to 97.8% this year.

Condos & Townhomes

The overbid percentage has decreased from 96 2% last year's December, to 91 3% this year

Atherton

What's in the Atherton data?

Atherton's single-family housing market saw an increased to an $8.5 million median sold price. There were 2 units sold, and 0 new listing. The condo & townhome market declined month-over-month with 0 new listings and 0 sales. Buyers remain aggressive with average offer prices remaining at around 100%. Due to only 6% of home purchases being completed, the market has seen a decrease in supply. Combine these factors with the surging demand, and the cost of buying continues being pushed up. This is creating an imbalance between the pricing range and active options in the marketplace.

8.5M

415.483.9285 Palo Alto DRE# 01511642 Copyright KW Advisors 2023. Each Office is ys on Market

The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from December 2021 to December 2022. 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.

ngle Family Homes ast 12 months, year-over-year.

ondos & Townhomes ast 12 months, year-over-year

Single Family Homes

The median sales price increased from $7 5m in December 2021 to $8 5m in December 2022

Condos & Townhomes

The median sales price has remained at $0, since last December

AVGDays OntheMarket

Single Family Homes

The average time spent on market decreased from 108 days last December 2021 to 50 days by December 2022.

Condos & Townhomes

The average days on market has remained at 0 since last December

Overbids

Single Family Homes

The overbid percentage decreased from 101.5% last December 2021 to 92.5% a year later.

Condos & Townhomes

The overbid percentage has remained at 0%, since last December

LosAltos

What's in the Los Altos data?

Los Altos' single-family housing market saw a decrease to a $3.7 million median sold price. There were 11 units sold and 4 new listings. The condo & townhome market inclined month-over-month with 1 new listing and 1 sale, totaling approximately $2.4 million. Buyers have remained aggressive with average offer prices at around 100%. Due to only 6% of home purchases being completed, the market has seen a decrease in supply. Combine these factors with the surging demand, and the cost of buying only continues being pushed up. This 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 December 2021 to December 2022. This may 415.483.9285 Palo Alto DRE# 01511642 Copyright KW Advisors 2023. Each Office is

1 New Listings

1 Sold Listings

6 Months of Inventory

$2.4M Median Sale Price 94%

Median Sale vs List 153 Avg Days on Market

Single Family Homes

The median sales price decreased from $4 2m in December 2021 to $3 7m in December 2022

Condos & Townhomes

The median sales price increased from $1.8m in December 2021 and $2.4m in December 2022.

AVGDays OntheMarket

Single Family Homes

The average time spent on market increased from 14 days last December 2021 to 53 days by December 2022

Condos & Townhomes

The average time spent on market increased from 20 days in December 2021 to 153 days this year

Overbids

Single Family Homes

The overbid rate increased from 94% December 2021 to 100% in December 2022

Condos & Townhomes

The overbid rate decreased from 100 2% last December 2021 to 94% a year later

SanJose

What's in the San Jose data?

San Jose's single-family housing market saw a decrease to a $1.3 million median sold price. There were 226 units sold and 118 new listings. The condo & townhome market declined month-over-month with 58 new listings and 93 sales, totaling approximately $675k. Buyers have remained aggressive with average offer prices remaining at around 100%. Due to only 6% of home purchases being completed, the market has seen a decrease in supply. Combine these factors with the surging demand, and the cost of buying continues being pushed up. This is creating an imbalance between the pricing range and active options in the marketplace.

26 stings s

1.3M Sale Price

5

415.483.9285 Palo Alto DRE# 01511642 Copyright KW Advisors 2023. Each Office is ys on Market

The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from December 2021 to December 2022. 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.

58 New Listings 1.3

Listings

Single Family Homes

The median sales price decreased from $1 4m in December 2021 to $1 3m in December 2022

Condos & Townhomes

The median sales price decreased from $805k in December 2021 to $675k in December 2022.

AVGDays OntheMarket

Single Family Homes

The average time spent on market increased from 13 days last December 2021 to 35 days by December 2022.

Condos & Townhomes

The average time spent on market increased from 22 days in December 2021 to 42 days this year

Overbids

Single Family Homes

The overbid percentage decreased from 111.9% last December 2021 to 95% a year later.

Condos & Townhomes

The overbid percentage decreased from 104 2% last December 2021 to 97 7% a year later.

Mountain View

What's in the Mountain View data?

Mountain View's single-family housing market saw a decrease to a $2.3 million median sold price. There were 14 units sold, and 7 new listings. The condo & townhome market inclined month-over-month with 9 new listings, and 18 sale, totaling approximately $1.2 million. Buyers have remained aggressive with average offer prices remaining at around 100%. Due to only 6% of home purchases being completed, the market has seen a decrease in supply. Combine these factors with the surging demand, and the cost of buying continues being pushed u. This is creating an imbalance between the pricing range and active options in the marketplace.

mily Homes

ory

14 Sold Listings

$2.3M Median Sale Price

% st 47 Avg Days on Market

The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from December 2021 to December 2022. 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.

9 New Listings

1.4 Months of Inventory

18 Sold Listings

Single Family Homes

The median sales price has gone down from $2 6m last December 2021, to $2 3m by December 2022

Condos & Townhomes

The median sales price has slightly increased from $1.1m of December 2021 to $1.2m by December 2022.

AVGDays OntheMarket

Single Family Homes

The average time spent on market increased from 30 days in December 2021 to 47 days this year

Condos & Townhomes

The average time spent on market significantly decreased from 31 days last December to 24 days this year

Overbids

Single Family Homes

The overbid percentage has decreased from 114.9% last year to 91.2% this year.

Condos & Townhomes

The overbid percentage has slightly decreased from 102 7% last year to 97 4% this year.

SanMateo County

What's in the San Mateo County data?

San Mateo's single-family housing market saw a decrease to a $1.7 million median sold price. There were 196 units sold and 101 new listings. The condo & townhome market declined month-over-month with 29 new listings and 41 sales, totaling approximately $825k. Buyers have remained aggressive with average offer prices remaining at around 100%. Due to only 6% of home purchases being completed, the market has seen a decrease in supply. Combine these factors with the surging demand, and the cost of buying continues being pushed up. This is creating an imbalance between the pricing range and active options in the marketplace.

01 Listings

196 Sold Listings

.7 hs of Inventory

$1.7M Median Sale Price

2.7% an Sale vs List

39

Avg Days on Market

The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from December 2021 to December 2022. 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.

29

New Listings

41 Sold Listings

2.3

Months of Inventory $825K

Median Sale Price 92.7%

Median Sale vs List 39 Avg Days on Market

Single Family Homes

Last 12 months, year-over-year.

Condos & Townhomes

Last 12 months, year-over-year

Single Family Homes

The median sales price decreased from $1 9m last December 2021, to $1 7m a year later

Condos & Townhomes

The median sales price has slightly decreased from $887k last December, to $825k this year.

AVGDays OntheMarket

Single Family Homes

The average time spent on market increased from 28 days last December to 39 days this year.

Condos & Townhomes

The average time spent on market increased from 39 days to 47 days in the last year

Overbids

Single Family Homes

The overbid percentage has decreased from 103.6% last December, to 92.7% this year.

Condos & Townhomes

The overbid percentage has gone down from 102,2% last year's December, to 95 9% this year

SantaClara County

What's in the Santa Clara County data?

Santa Clara's single-family housing market saw a decrease to a $1.4 million median sold price. There were 417 units sold and 222 new listings. The condo & townhome market inclined month-over-month with 96 new listings and 173 sales, totaling approximately $850k. Buyers have remained aggressive with average offer prices remaining at around 100%. Due to only 6% of home purchases being completed, the market has seen a decrease in supply. Combine these factors with the surging demand, and the cost of buying continues being pushed up. This is creating an imbalance between the pricing range and active options in the marketplace.

Single Family Homes

222 New Listings

417 Sold Listings

1.4 Months of Inventory

$1.4M Median Sale Price

94.4%

Median Sale vs List

38

Avg Days on Market

The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from December 2021 to December 2022. 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.

96

New Listings

173 Sold Listings

1.6

Months of Inventory

$850K

Median Sale Price

97.2%

Median Sale vs List

40 Avg Days on Market

Single Family Homes

The median sales price decreased from $1 7m last December to $1 4m this year

Condos & Townhomes

The median sales price increased from $849k last December to $850k this year.

AVGDays OntheMarket

Single Family Homes

The average time spent on market has significantly increased from 18 days in December 2021 to 38 days this December

Condos & Townhomes

The average time spent on market has gone up, from 26 days last December, to 40 days this year

Overbids

Single Family Homes

The overbid percentage is down, from 109.3% last December 2021, to 94.4% a year later.

Condos & Townhomes

The overbid percentage has decreased, from 103.2% last December 2021, to 97.2% this year.

Monterey County

What's in the Monterey County data?

Monterey County's single-family housing market saw a decreased to $775k median sold price,. There were 111 units sold and 88 new listings. The condo & townhome market declined month-over-month with 11 new listings and 12 sales, totaling approximately $574k. Buyers have remained aggressive aggressive with average offer prices remaining at around 100%. Due to only 6% of homes being completed, the market has seen a decrease in supply. Combine these factors with the surging demand, and the cost of buying continues being pushed up. This is creating an imbalance between the pricing range and active options in the marketplace.

New Listings

12

Sold Listings

4.2

Months of Inventory

$574K

Median Sale Price 99.7%

Median Sale vs List

38

Avg Days on Market

MontereyCounty

ingle Family Homes ast 12 months, year-over-year.

ondos & Townhomes ast 12 months, year-over-year

Single Family Homes

The median sales price decreased, from $871k in December 2021, to $775k in December 2022

Condos & Townhomes

The median sales price decreased, from $680k in December 2021, to $574k in December 2022

AVGDays OntheMarket

Single Family Homes

The average time spent on market increased from 30 days last December 2021 to 62 days by December 2022.

Condos & Townhomes

The average time spent on market increased, from 26 days in December 2021, to 38 days this year

Overbids

Single Family Homes

The overbid percentage decreased, from 101.4% last December 2021, to 85.2% a year later.

Condos & Townhomes

In December 2021, the overbid percentage was 93%, and has remained the same this year

SantaCruz County

What's in the Santa Cruz County data?

Santa Cruz County's single-family housing market saw a decrease to a $1.1 million median sold price. There were 83 units sold, and 56 new listings. The condo & townhome market inclined month-over-month with 12 new listings and 20 sales, totaling approximately $813. Buyers have remained aggressive with their offer prices remaining at around 100%. Due to only 6% of home purchases being completed, the market has seen a decrease in supply. Combine these factors with surging demand, and the cost of buying continues being pushed up. This is creating an imbalance between the pricing range and active options in the marketplace.

entory

$1.1M Median Sale Price

s List

Avg Days on Market

The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from December 2021 to December 2022. 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.

12

New Listings

20

Sold Listings

1.4

Months of Inventory

$813K

Median Sale Price 98.6%

Median Sale vs List

79

Avg Days on Market

Single Family Homes

The median sales price slightly decreased, from $1 2m in December 2021, to $1 1m in December 2022

Condos & Townhomes

The median sales price increased, from $668k in December 2021, to $813k in December 2022.

AVGDays OntheMarket

Single Family Homes

The average time spent on market increased, from 40 days last December 2021, to 55 days by December 2022.

Condos & Townhomes

The average days on market increased, from 16 days in December 2021, to 79 days this year

Overbids

Single Family Homes

The overbid percentage decreased, from 100.5% last December 2021, to 94.6% a year later.

Condos & Townhomes

The overbid percentage decreased, from 100 4% last December 2021, to 98 6% a year later

East PaloAlto

What's in the East Palo Alto data?

East Palo Alto's single-family housing market saw a decrease to an $850k median sold price. There was 1 unit sold and 2 new listings. The condo & townhome market declined month-over-month with 0 new listings and 0 sales. Buyers have remained aggressive with their offer prices remaining at around 100%. Due to only 6% of home purchases being completed, the market has seen a decrease in supply. Combine these factors with the surging demand, and the cost of buying continues being pushed up. This is creating an imbalance between the pricing range and active options in the marketplace.

KThe data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from December 2021 to December 2022. This may include preliminary data, and vary from the time the data was gathered. All data is 415.483.9285 Palo Alto DRE# 01511642 Copyright KW Advisors 2023. Each Office is

Condo & Townhomes

New Listings

Sold Listings

Months of Inventory

Median Sale Price 0%

Median Sale vs List

Avg Days on Market

EastPaloAlto

Single Family Homes

The median sales price decreased, from $925k in December 2021, to $850k in December 2022

Condos & Townhomes

The median sales price decreased, from $795k in December 2021, to $0 in December 2022.

AVGDays OntheMarket

Single Family Homes

The average days on market increased, from 44 days last December 2021, to 79 days by December 2022.

Condos & Townhomes

The average days on market decreased, from 38 days in December 2021 to 0 days this year

Overbids

Single Family Homes

The overbid percentage decreased, from 101.4% last December 2021, to 85.2% a year later.

Condos & Townhomes

The overbid percentage decreased, from 90% last December 2021, to 0% a year later.

Sunnyvale

What's in the Sunnyvale data?

Sunnyvale's single-family housing market saw a decrease to a $2 million median sold price. There were 23 units sold and 9 new listings. The condo & townhome market declined monthover-month with 4 new listings and 13 sales, totaling approximately $1.1 million. Buyers have remained aggressive iwith their offer prices remaining at around 100%. Due to only 6% of home purchases being completed, the market has seen a decrease in supply. Combine these factors with the surging demand, and the cost of buying continues being pushed up. This is creating an imbalance between the pricing range and active options in the marketplace.

Single Family Homes

9 New Listings

23 Sold Listings

0.8 Months of Inventory

$2M Median Sale Price

96.3%

Median Sale vs List

28

Avg Days on Market

The data, sourced from Broker Metrics, includes all single-family homes, condos, and townhomes in the California Area from December 2021 to December 2022. 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.

4

New Listings

13 Sold Listings

0.9

Months of Inventory

$1.1M

Median Sale Price

97.2%

Median Sale vs List

26 Avg Days on Market

Sunnyvale

Single Family Homes

The median sales price decreased, from $2 4m in December 2021, to $2m in December 2022

Condos & Townhomes

The median sales price decreased from $1 4m in December 2021 and $1.1m in December 2022.

AVGDays OntheMarket

Single Family Homes

The average days on market increased, from 16 days last December 2021, to 28 days by December 2022.

Condos & Townhomes

The average days on market increased, from 23 days in December 2021, to 26 days this year

Overbids

Single Family Homes

The overbid percentage decreased, from 119.4% last December 2021, to 96.3% a year later.

Condos & Townhomes

The overbid percentage decreased, from 103.6% last December 2021, to 97.2% a year later.

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Market report for Palo Alto area January 2023 by Procasa Technologies, Inc - Issuu