Luxury Market report for Palo Alto Bay area April 2023
Palo Alto area
Palo Alto Los Altos
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Redwood City
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Portola Valley
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Menlo Park
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Atherton
Jump to Atherton Report
Jump to Los Altos Report
San Jose
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Mountain View
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San Mateo County
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Santa Clara County
Jump to Santa Clara County
Monterey County
Jump to Monterey County Report
Santa Cruz County
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East Palo Alto
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Sunnyvale
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Santa Clara City
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Jump to Saratoga Report
Saratoga
What’syourhome reallyworthintoday’s market?
That's really the question you should be asking yourself.
Our market is incredibly diverse, and rapidly changing. Values vary not just by neighborhood, but by street. Your home isn't necessarily worth what your neighbors’ home is. At the end of the day, it’s the current market that 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.
HowChangingMortgage RatesCanAffectYou
The 30-year fixed mortgage rate has been bouncing between 6% and 7% this year. If you’ve been on the fence about whether to buy a home or not, it’s helpful to know exactly how a 1%, or even a 0.5%, mortgage rate shift affects your purchasing power.
The chart below helps show the general relationship between mortgage rates and a typical monthly mortgage payment:
Even a 0.5% change can have a big impact on your monthly payment. And since rates have been moving between 6% and 7% for a while now, you can see how it impacts your purchasing power as rates go down.
What This Means for You
You may be tempted to put your homebuying plans on hold in hopes that rates will fall. But that can be risky. No one knows for sure where rates will go from here, and trying to time them for your benefit is tough Lisa Sturtevant, Housing Economist at Bright MLS, explains:
“It is typically a fool’s errand for a homebuyer to try to time rates in this market . . . But volatility in mortgage rates right now can have a real impact on buyers’ monthly payments.”
That’s why it’s critical to lean on your expert real estate advisors to explore your mortgage options, understand what impacts mortgage rates, and plan your homebuying budget around today’s volatility. They’ll also be able to offer advice tailored to your specific situation and goals, so you have what you need to make an informed decision.
Bottom Line
Your ability to buy a home could be impacted by changing mortgage rates. If you’re thinking about making a move, partner with a trusted real estate agent and lender so you have a strong plan in place.
Source: Keeping Current Matters
PaloAlto
What's in the Palo Alto data?
Currently, there are 87 single-family homes for sale, providing 1.6 months of inventory. There were 44 new listings, and 33 homes were sold with a median sale price of $3.4m. The median overbid was 99.8%, and the average time spent on the market was 19 days.
There are currently 26 condo and townhome units for sale, providing 1 8 months of inventory There were 13 new listings for sale, and 8 condos were sold with a median sale price of $1.4m. The median overbid was 100%, and the average time on the market was 38 days.
Single-Family Homes
44 New Listings
33 Sold Listings
1.6 Months of Inventory
$3.4M Median Sale Price
99.8% Median Sale vs List
19 Avg Days on Market
This data was sourced from Broker Metrics on April 3rd, 2023 and includes all singlefamily homes, condos, and townhomes in the California Area above from March 2022 to March 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-Family Homes
The median sales price has decreased from $4 3m last March 2022, to $3 4m as of March 2023
Condos & Townhomes
The median sales price has decreased from $1.9m last March 2022, to $1.4m as of March 2023.
AVGDays OntheMarket
Single-Family Homes
The average days on market went up from 12 days last March 2022, to 19 days as of March 2023
Condos & Townhomes
The average days on market went up from 15 days in March 2022, to 38 days as of March 2023
Overbids
Single-Family Homes
The overbid percentage has decreased from 109 3% last March 2022, to 99 8% a year later
Condos & Townhomes
The overbid percentage has decreased from 111.2% last March 2022, to 100% a year later.
Redwood City
What's in the Redwood City data?
Currently, there are 65 single-family homes for sale, providing 1 month of inventory. There were 34 new listings, and 26 homes were sold with a median sale price of $1.8m. The median overbid was 99 2%, and the average time spent on the market was 19 days.
There are currently 26 condo and townhome units for sale, providing 1.8 months of inventory. There were 6 new listings for sale, and 10 condos were sold with a median sale price of $1.4m. The median overbid was 101.8%, and the average time on the market was 11 days
Median SalesPrice
Single-Family Homes
The median sales price has decreased from $2 6m last March 2022, to $1 8m as of March 2023
Condos & Townhomes
The median sales price has increased from $970k last March 2022, to $1.4m as of March 2023.
AVGDays OntheMarket
Single-Family Homes
The average days on market went up from 9 days last March 2022, to 19 days as of March 2023
Condos & Townhomes
The average days on market went down from 26 days in March 2022, to 11 days as of March 2023
Overbids
Single-Family Homes
The overbid percentage has decreased from 118% last March 2022, to 99 2% a year later
Condos & Townhomes
The overbid percentage has decreased from 109.3% last March 2022, to 101.8% a year later.
Portola Valley
What's in the Portola V data?
Currently, there are 13 single-family h sale, providing 2.3 months of invent were 5 new listings, and 4 homes we median sale price of $3.7m. The med was 94 4%, and the average time spe market was 32 days.
There are currently no condos for sa new listings, or condo sales reported January.
4 Sold Listings mes
$3.7M edian Sale Price
32 g Days on Market
April 3rd, 2023 and includes all singlelifornia Area above from March 2022 to and vary from the time the data was guaranteed. Questions may be directed to 01511642 Copyright KW Advisors 2023.
PortolaValley
Median SalesPrice
Single-Family Homes
The median sales price has decreased from $4 6m last March 2022, to $3 7m as of March 2023
Condos & Townhomes
No data for this month.
AVGDays OntheMarket
Single-Family Homes
The average days on market went up from 13 days last March 2022, to 32 days as of March 2023
Condos & Townhomes
No data for this month
Overbids
Single-Family Homes
The overbid percentage has decreased from 108 8% last March 2022, to 94 4% a year later
Condos & Townhomes
No data for this month.
Men
What's in
Currently, there sale, providing were 30 new lis with a median overbid was 97 the market was There are curre for sale, provid were 5 new list sold with a me median overbid on the market w
18 Sold Listings omes
$3.8M
Median Sale Price
18
Avg Days on Market
Metrics on April 3rd, 2023 and includes all singlethe California Area above from March 2022 to preliminary data, and vary from the time the data was not guaranteed. Questions may be directed to DRE# 01511642 Copyright KW Advisors 2023. Each Office is independently owned and operated.
MARCH 2022 - MARCH 2023 er-year.
March2023
Median SalesPrice
Single-Family Homes
The median sales price has increased from $3 3m last March 2022, to $3 8m as of March 2023
Condos & Townhomes
The median sales price has increased from $1.2m last March 2022, to $1.4m as of March 2023.
AVGDays OntheMarket
Single-Family Homes
The average days on market went up from 12 days last March 2022, to 18 days as of March 2023
Condos & Townhomes
The average days on market went up from 14 days in March 2022, to 173 days as of March 2023
Overbids
Single-Family Homes
The overbid percentage has decreased from 109 4% last March 2022, to 97 6% a year later
Condos & Townhomes
The overbid percentage has decreased from 102.1% last March 2022, to 95.5% a year later.
Athert
What's in the Ath
Currently, there are 28 sin sale, providing 7.7 month were 8 new listings, and 4 median sale price of $6.2m was 89.6%, and the averag market was 35 days.
There are currently no con new listings, or condo sale January.
No data for this month
2023
Median SalesPrice
Single-Family Homes
The median sales price has decreased from $16 8m last March 2022, to $6 2m as of March 2023
Condos & Townhomes
No data for this month.
AVGDays OntheMarket
Single-Family Homes
The average days on market went up from 12 days last March 2022, to 35 days as of March 2023
Condos & Townhomes
No data for this month
Overbids
Single-Family Homes
The overbid percentage has decreased from 104 9% last March 2022, to 89 6% a year later
Condos & Townhomes
No data for this month.
LosAltos
What's in the Los Altos data?
Currently, there are 37 single-family homes for sale, providing 1.1 months of inventory. There were 24 new listings, and 19 homes were sold with a median sale price of $4m. The median overbid was 98.7%, and the average time spent on the market was 14 days.
There are currently 13 condo and townhome units for sale, providing 0 months of inventory There were 6 new listings for sale, and 3 condos were sold with a median sale price of $1.8m. The median overbid was 98.7%, and the average time on the market was 7 days.
24 w Listings
Homes
19 Sold Listings
1.1 onths of Inventory $4M Median Sale Price
98.7% edian Sale vs List
14 Avg Days on Market
This data was sourced from Broker Metrics on April 3rd, 2023 and includes all singlefamily homes, condos, and townhomes in the California Area above from March 2022 to March 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 Advisors. 415.483.9285. Palo Alto | DRE# 01511642 Copyright KW Advisors 2023. Each Office is independently owned and operated.
6 New Listings
3 Sold Listings
0 Months of Inventory
$1.8M Median Sale Price 98.7%
Median Sale vs List
7 Avg Days on Market
LosAltos
Median SalesPrice
Single-Family Homes
The median sales price has decreased from $4 5m last March 2022, to $4m as of March 2023
Condos & Townhomes
The median sales price has increased from $1.2m last March 2022, to $1.8m as of March 2023.
AVGDays OntheMarket
Single-Family Homes
The average days on market went up from 8 days last March 2022, to 14 days as of March 2023
Condos & Townhomes
The average days on market went down from 16 days in March 2022, to 7 days as of March 2023
Overbids
Single-Family Homes
The overbid percentage has decreased from 117 3% last March 2022, to 98 7% a year later
Condos & Townhomes
The overbid percentage has decreased from 110% last March 2022, to 98.7% a year later.
SanJos
What's in the San
Currently, there are 616 sing sale, providing 0.8 months were 382 new listings, and with a median sale price of overbid was 99.2%, and the the market was 19 days.
There are currently 286 con units for sale, providing 0 8 There were 173 new listings condos were sold with a me $819k. The median overbid average time on the market
173
SanJose
Single-Family Homes
The median sales price has decreased from $1 7m last March 2022, to $1 5m as of March 2023
Condos & Townhomes
The median sales price has decreased from $906k last March 2022, to $819k as of March 2023
Single-Family Homes
The average days on market went up from 10 days last March 2022, to 19 days as of March 2023.
Condos & Townhomes
The average days on market went up from 11 days in March 2022, to 27 days as of March 2023
Overbids
Single-Family Homes
The overbid percentage has decreased from 118 1% last March 2022, to 99 2% a year later
Condos & Townhomes
The overbid percentage has decreased from 112.5% last March 2022, to 100.4% a year later.
Wha data
Current sale, p were 14 a media was 10 market
There a for sale were 24 sold wi median on the
Mce includes all singleMarch 2022 to time the data was may be directed to Advisors 2023.
rket
24 New Listings
1.2 Months of Inventory
Median Sale vs List
Avg Days on Market 19 Sold Listings
Median SalesPrice
Single-Family Homes
The median sales price has decreased from $3 4m last March 2022, to $2 7m as of March 2023
Condos & Townhomes
The median sales price has remained from $1.3m last March 2022, to $1.3m as of March 2023.
AVGDays OntheMarket
Single-Family Homes
The average days on market went up from 11 days last March 2022, to 26 days as of March 2023
Condos & Townhomes
The average days on market went up from 17 days in March 2022, to 22 days as of March 2023
Overbids
Single-Family Homes
The overbid percentage has decreased from 119 6% last March 2022, to 100 7% a year later
Condos & Townhomes
The overbid percentage has decreased from 112.4% last March 2022, to 100% a year later.
Sa Co
What' data?
Currently sale, pro were 334 with a me overbid w the mark
There are units for There we condos w $1m. The average t
Msingle-family 2022 to March was gathered. directed to KW 2023. Each et
SanMateo
Median SalesPrice
Single-Family Homes
The median sales price has decreased from $2m last March 2022, to $1 7m as of March 2023
Condos & Townhomes
The median sales price has increased from $938k last March 2022, to $1m as of March 2023.
AVGDays OntheMarket
Single-Family Homes
The average days on market went up from 12 days last March 2022, to 28 days as of March 2023
Condos & Townhomes
The average days on market went up from 16 days in March 2022, to 36 days as of March 2023
Overbids
Single-Family Homes
The overbid percentage has decreased from 114 4% last March 2022, to 100% a year later
Condos & Townhomes
The overbid percentage has decreased from 105.3% last March 2022, to 99.9% a year later.
Santa Coun
What's in the S County data?
Currently, there are 61 sale, providing 1 mon 813 new listings, and median sale price of $ was 100 9%, and the a market was 25 days.
There are currently 26 units for sale, providin
There were 352 new li condos were sold with $940k. The median ov average time on the m
641 Sold Listings mily Homes
ory
$1.6M Median Sale Price
9% st
25 Avg Days on Market
InfoSparks on April 3rd, 2023 and includes all single-family townhomes in the California Area above from March 2022 to March preliminary data, and vary from the time the data was gathered. able but not guaranteed. Questions may be directed to KW Palo Alto | DRE# 01511642 Copyright KW Advisors 2023. Each Office is independently owned and operated.
Median SalesPrice
Single-Family Homes
The median sales price has decreased from $1 9m last March 2022, to $1 6m as of March 2023
Condos & Townhomes
The median sales price has decreased from $1m last March 2022, to $940k as of March 2023.
Single-Family Homes
The average days on market went up from 12 days last March 2022, to 25 days as of March 2023
Condos & Townhomes
The average days on market went up from 11 days in March 2022, to 27 days as of March 2023
Overbids
Single-Family Homes
The overbid percentage has decreased from 116% last March 2022, to 100 9% a year later
Condos & Townhomes
The overbid percentage has decreased from 110.5% last March 2022, to 100% a year later.
Monterey County
What's in the Monterey County data?
Currently, there are 438 single-family homes for sale, providing 1.7 months of inventory. There were 156 new listings, and 147 homes were sold with a median sale price of $900k. The median overbid was 94 1%, and the average time spent on the market was 43 days.
There are currently 63 condo and townhome units for sale, providing 0.9 months of inventory. There were 37 new listings for sale, and 27 condos were sold with a median sale price of $640k. The median overbid was 96%, and the average time on the market was 25 days
ingle-Family Homes
156 w Listings
147 Sold Listings
1.7 onths of Inventory
$900K Median Sale Price
94.1% edian Sale vs List
43 Avg Days on Market
This data was sourced from Broker Metrics on April 3rd, 2023 and includes all singlefamily homes, condos, and townhomes in the California Area above from March 2022 to March 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 Advisors. 415.483.9285. Palo Alto | DRE# 01511642 Copyright KW Advisors 2023. Each Office is independently owned and operated.
37
Listings
MontereyCounty
Median SalesPrice
Single-Family Homes
The median sales price has decreased from $912k last March 2022, to $900k as of March 2023
Condos & Townhomes
The median sales price has decreased from $750 last March 2022, to $640 as of March 2023.
Single-Family Homes
The average days on market went up from 17 days last March 2022, to 43 days as of March 2023
Condos & Townhomes
The average days on market went up from 22 days in March 2022, to 25 days as of March 2023
Overbids
Single-Family Homes
The overbid percentage has decreased from 99 4% last March 2022, to 94 1% a year later
Condos & Townhomes
The overbid percentage has decreased from 101.1% last March 2022, to 96% a year later.
SantaCruz County
What's in the Santa Cruz County data?
Currently, there are 279 single-family homes for sale, providing 1.9 months of inventory. There were 123 new listings, and 94 homes were sold with a median sale price of $1.2m. The median overbid was 96 2%, and the average time spent on the market was 40 days.
There are currently 52 condo and townhome units for sale, providing 1.6 months of inventory. There were 18 new listings for sale, and 20 condos were sold with a median sale price of $880k. The median overbid was 99%, and the average time on the market was 44 days
Single-Family Homes
123 New Listings
94 Sold Listings
1.9 Months of Inventory
$1.2M Median Sale Price
96.2% Median Sale vs List
40 Avg Days on Market
This data was sourced from Broker Metrics on April 3rd, 2023 and includes all singlefamily homes, condos, and townhomes in the California Area above from March 2022 to March 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.
18 New Listings
Median Sale vs List
Avg Days on Market 20 Sold Listings
SantaCruzCounty
Median SalesPrice
Single-Family Homes
The median sales price has decreased from $1 6m last March 2022, to $1 2m as of March 2023
Condos & Townhomes
The median sales price has increased from $805k last March 2022, to $880k as of March 2023.
AVGDays OntheMarket
Single-Family Homes
The average days on market went up from 14 days last March 2022, to 40 days as of March 2023
Condos & Townhomes
The average days on market went up from 17 days in March 2022, to 44 days as of March 2023
Overbids
Single-Family Homes
The overbid percentage has decreased from 107 4% last March 2022, to 96 2% a year later
Condos & Townhomes
The overbid percentage has decreased from 108.2% last March 2022, to 99% a year later.
East PaloAlto
What's in the East Palo Alto data?
Currently, there are 15 single-family homes for sale, providing 1.6 months of inventory. There were 7 new listings, and 3 homes were sold with a median sale price of $961k. The median overbid was 100 1%, and the average time spent on the market was 12 days.
There are currently 3 condo and townhome units for sale, providing 1 month of inventory. There was 1 new listing for sale, and 1 unit was sold with a median sale price of $455k. The median overbid was 98.9%, and the average time on the market was 6 days
Single-Family Homes
7 New Listings
3 Sold Listings
1.6 Months of Inventory
$961K Median Sale Price
100.1%
Median Sale vs List
12 Avg Days on Market
This data was sourced from Broker Metrics on April 3rd, 2023 and includes all singlefamily homes, condos, and townhomes in the California Area above from March 2022 to March 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.
1 New Listings
1 Sold Listings
1 Months of Inventory $455K
Sale Price 98.9% Median Sale vs List 6 Avg Days on Market
EastPaloAlto
Median SalesPrice
Single-Family Homes
The median sales price has decreased from $1m last March 2022, to $961k as of March 2023
Condos & Townhomes
The median sales price has decreased from $792k last March 2022, to $455k as of March 2023.
AVGDays
Single-Family Homes
The average days on market went up from 6 days last March 2022, to 12 days as of March 2023
Condos & Townhomes
The average days on market went down from 7 days in March 2022, to 6 days as of March 2023
Overbids
Single-Family Homes
The overbid percentage has decreased from 103 3% last March 2022, to 100 1% a year later
Condos & Townhomes
The overbid percentage has decreased from 105.2% last March 2022, to 98.9% a year later.
Sunnyvale
What's in the Sunnyvale data?
Currently, there are 82 single-family homes for sale, providing 0.5 months of inventory. There were 50 new listings, and 42 homes were sold with a median sale price of $2.3m. The median overbid was 104.5%, and the average time spent on the market was 17 days.
There are currently 30 condo and townhome units for sale, providing 1 month of inventory There were 19 new listings for sale, and 13 condos were sold with a median sale price of $1.1m. The median overbid was 102.9%, and the average time on the market was 14 days.
Single-Family Homes
50 New Listings
42 Sold Listings
0.5 Months of Inventory
$2.3M Median Sale Price
104.5% Median Sale vs List
17 Avg Days on Market
This data was sourced from Broker Metrics on April 3rd, 2023 and includes all singlefamily homes, condos, and townhomes in the California Area above from March 2022 to March 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 Sale vs List Avg Days o
Median SalesPrice
Single-Family Homes
The median sales price has decreased from $2 8m last March 2022, to $2 3m as of March 2023
Condos & Townhomes
The median sales price has decreased from $1.4m last March 2022, to $1.1m as of March 2023.
AVGDays OntheMarket
Single-Family Homes
The average days on market went up from 10 days last March 2022, to 17 days as of March 2023
Condos & Townhomes
The average days on market went up from 10 days in March 2022, to 14 days as of March 2023
Overbids
Single-Family Homes
The overbid percentage has decreased from 120 7% last March 2022, to 104 5% a year later
Condos & Townhomes
The overbid percentage has decreased from 111.2% last March 2022, to 102.9% a year later.
SantaClara City
What's in the Santa Clara City data?
Currently, there are 59 single-family homes for sale, providing 0.8 months of inventory. There were 33 new listings, and 28 homes were sold with a median sale price of $1.6m. The median overbid was 107 1%, and the average time spent on the market was 14 days.
There are currently 35 condo and townhome units for sale, providing 0.7 months of inventory. There were 18 new listings for sale, and 18 condos were sold with a median sale price of $985k. The median overbid was 103.2%, and the average time on the market was 19 days
Single-Family Homes
33 New Listings
28 Sold Listings
0.8 Months of Inventory
$1.6M Median Sale Price
107.1% Median Sale vs List
14 Avg Days on Market
This data was sourced from Broker Metrics on April 3rd, 2023 and includes all singlefamily homes, condos, and townhomes in the California Area above from March 2022 to March 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.
SantaClaraCity
Median SalesPrice
Single-Family Homes
The median sales price has decreased from $1 9m last March 2022, to $1 6m as of March 2023
Condos & Townhomes
The median sales price has increased from $915k last March 2022, to $985k as of March 2023.
AVGDays OntheMarket
Single-Family Homes
The average days on market went up from 10 days last March 2022, to 14 days as of March 2023
Condos & Townhomes
The average days on market went up from 11 days in March 2022, to 19 days as of March 2023
Overbids
Single-Family Homes
The overbid percentage has decreased from 122 1% last March 2022, to 107 1% a year later
Condos & Townhomes
The overbid percentage has decreased from 113.5% last March 2022, to 103.2% a year later.
Saratoga
What's in the Saratoga data?
Currently, there are 44 single-family homes for sale, providing 1.9 months of inventory. There were 17 new listings, and 17 homes were sold with a median sale price of $4.1m. The median overbid was 96.7%, and the average time spent on the market was 26 days.
There are currently 8 condo and townhome units for sale, providing 0 2 months of inventory There were 5 new listings for sale, and 2 condos were sold with a median sale price of $1.1m. The median overbid was 101.1%, and the average time on the market was 20 days.
Single-Family Homes
17 New Listings
17 Sold Listings
1.9 Months of Inventory
$4.1M Median Sale Price
96.7% Median Sale vs List
26 Avg Days on Market
This data was sourced from Broker Metrics on April 3rd, 2023 and includes all singlefamily homes, condos, and townhomes in the California Area above from March 2022 to March 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.
Months of Inven
Median Sale vs
Median SalesPrice
Single-Family Homes
The median sales price has increased from $3 7m last March 2022, to $4 1m as of March 2023
Condos & Townhomes
The median sales price has decreased from $2m last March 2022, to $1.1m as of March 2023.
AVGDays OntheMarket
Single-Family Homes
The average days on market went up from 11 days last March 2022, to 26 days as of March 2023
Condos & Townhomes
The average days on market went up from 16 days in March 2022, to 20 days as of March 2023
Overbids
Single-Family Homes
The overbid percentage has decreased from 115 1% last March 2022, to 96 7% a year later
Condos & Townhomes
The overbid percentage has decreased from 112.7% last March 2022, to 101.1% a year later.