Stefan Walker - Q4 2025 Market Report

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KW Bay Area Estates

Santa Clara County

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San Mateo County

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Alameda County

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Contra Costa County

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Santa Cruz County

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Monterey County

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Jump to Almaden Valley (San Jose) Report Almaden Valley (San Jose)

Alum Rock (San Jose)

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Berryessa (San Jose)

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Jump to Blossom Valley (San Jose) Report Blossom Valley (San Jose)

Jump to Cambrian (San Jose) Report Cambrian (San Jose)

Jump to Campbell Report Campbell

Jump to Central San Jose Report Central San Jose

Jump to Cupertino Report Cupertino

Jump to Evergreen (San Jose) Report Evergreen (San Jose)

Jump to Los Altos Report Los Altos

Jump to Los Altos Hills Report Los Altos Hills

Los Gatos Mountains

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Los Gatos/Monte Sereno

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Milpitas

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Morgan Hill/Gilroy/San Martin

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Mountain View

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Palo Alto

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Santa Clara City

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Santa Teresa (San Jose)

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Saratoga

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South San Jose

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Sunnyvale

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Willow Glen (San Jose)

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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 today's market?

Momentum is quietly building in the housing market. New data from NerdWallet shows more Americans are starting to think about buying a home again. Last year, 15% of respondents said they planned to buy a home in the next 12 months. This year, that number rose to 17%.

That 2% increase might not sound like a big jump, but in a market where buyer demand has been cooling for the past few years, it’s a sign things are starting to shift. More people are feeling ready (or at least closer to ready) to take the leap and buy a home in 2026.

And if you’re in that camp and buying a home is on your goal sheet this year, this is your nudge to connect with a local agent and a trusted lender to start laying the groundwork now.

Santa Clara County

What's in the Santa Clara County data?

The latest data from the housing market indicates a resilient and active landscape across Single Family Homes, Condos, and Townhomes. With 2,615 closed sales recorded during the reporting period, the market continues to exhibit robust performance, demonstrating sustained demand among buyers. The median price for these properties stands impressively at $1.5 million, underscoring their desirability and the overall strength of the market, especially in serving upscale clientele.

Moreover, the market saw a total of 2,449 new listings, indicating healthy inventory levels and providing buyers with a diverse range of options to consider. This influx of listings reflects positively on the market's capacity to accommodate varying preferences, contributing to its dynamism and attractiveness.

A particularly notable metric is the average duration properties spend on the market before sale, which stands at 30 days without price reduction. This indicates a swift turnaround time for properties, suggesting high buyer interest and competitive conditions within the market.

Additionally, the average price per square foot remains high at $1,061, emphasizing the premium nature of the properties available and attracting buyers seeking upscale residences with superior features and amenities.

Overall, these indicators paint a picture of resilience and continued vitality in the housing market. Despite external factors, the market for Single Family Homes, Condos, and Townhomes appears well-positioned for sustained growth and stability in the foreseeable future.

New Listings

2,449

$1,061

Average Price Per SqFt +0.3% Year-over-Year +0.0% Year-over-Year

2,615

$1.5M Closed Sales

Year-over-Year

Year-over-Year

30

$5.1B Average Days-on-Market Total Volume +20.0% Year-over-Year -9.5% Year-over-Year

Data includes all single family, townhome, and condominium sales in Santa Clara County sourced from MLS Listings. The most recent month’s data is based on available numbers, but may change with late reported activity Data from sources deemed reliable but may contain errors and are subject to revision

Santa Clara County

Single Family Homes

The market for Single Family Homes saw 1,850 closed sales at a median price of $1 8M There was a total of 1,601 new listings with an average of 26 days on the market without price reduction and with an average price per square foot of $1,183. With a total volume of $4.3B.

Santa Clara County

Townhomes & Condominiums

The market for Townhomes & Condominiums saw 765 closed sales at a median price of $950K There was a total of 847 new listings with an average of 39 days on the market without price reduction and with an average price per square foot of $768. With a total volume of $809M.

Listings vs. Closed Sales

San Mateo County

What's in the San Mateo County data?

The latest data from the housing market indicates a resilient and active landscape across Single Family Homes, Condos, and Townhomes. With 1,331 closed sales recorded during the reporting period, the market continues to exhibit robust performance, demonstrating sustained demand among buyers. The median price for these properties stands impressively at $1.6 million, underscoring their desirability and the overall strength of the market, especially in serving upscale clientele.

Moreover, the market saw a total of 1,131 new listings, indicating healthy inventory levels and providing buyers with a diverse range of options to consider. This influx of listings reflects positively on the market's capacity to accommodate varying preferences, contributing to its dynamism and attractiveness.

A particularly notable metric is the average duration properties spend on the market before sale, which stands at 39 days without price reduction. This indicates a swift turnaround time for properties, suggesting high buyer interest and competitive conditions within the market.

Additionally, the average price per square foot remains high at $1,081, emphasizing the premium nature of the properties available and attracting buyers seeking upscale residences with superior features and amenities.

Overall, these indicators paint a picture of resilience and continued vitality in the housing market. Despite external factors, the market for Single Family Homes, Condos, and Townhomes appears well-positioned for sustained growth and stability in the foreseeable future.

1,131

Average Price Per SqFt +15.6% Year-over-Year

$1,081 New Listings

Year-over-Year

1,331

Year-over-Year

$1.6M

Year-over-Year

39

$3B Average Days-on-Market Total Volume +18.2% Year-over-Year +17.4% Year-over-Year

Data includes all single family, townhome, and condominium sales in San Mateo County sourced from MLS Listings. The most recent month’s data is based on available numbers, but may change with late reported activity Data from sources deemed reliable but may contain errors and are subject to revision

San Mateo County

Single Family Homes

The market for Single Family Homes saw 1,030 closed sales at a median price of $1 9M There was a total of 852 new listings with an average of 29 days on the market without price reduction and with an average price per square foot of $1,179. With a total volume of $2.7B.

San Mateo County

Townhomes & Condominiums

The market for Townhomes & Condominiums saw 301 closed sales at a median price of $850k There was a total of 278 new listings with an average of 74 days on the market without price reduction and with an average price per square foot of $745. With a total volume of $294M.

Alameda County

What's in the Alameda County data?

The latest data from the housing market indicates a resilient and active landscape across Single Family Homes, Condos, and Townhomes. With 2,493 closed sales recorded during the reporting period, the market continues to exhibit robust performance, demonstrating sustained demand among buyers. The median price for these properties stands impressively at $1 million, underscoring their desirability and the overall strength of the market, especially in serving upscale clientele.

Moreover, the market saw a total of 2,423 new listings, indicating healthy inventory levels and providing buyers with a diverse range of options to consider. This influx of listings reflects positively on the market's capacity to accommodate varying preferences, contributing to its dynamism and attractiveness.

A particularly notable metric is the average duration properties spend on the market before sale, which stands at 32 days without price reduction. This indicates a swift turnaround time for properties, suggesting high buyer interest and competitive conditions within the market.

Additionally, the average price per square foot remains high at $703, emphasizing the premium nature of the properties available and attracting buyers seeking upscale residences with superior features and amenities.

Overall, these indicators paint a picture of resilience and continued vitality in the housing market. Despite external factors, the market for Single Family Homes, Condos, and Townhomes appears well-positioned for sustained growth and stability in the foreseeable future.

2,423

Average Price Per SqFt +5.6% Year-over-Year

$703 New Listings

Year-over-Year

$1M Closed Sales

2,493

Year-over-Year

Year-over-Year

32 $3B Average Days-on-Market Total Volume +6.7% Year-over-Year -3 5% Year-over-Year

Data includes all single family, townhome, and condominium sales in Alameda County sourced from MLS Listings. The most recent month’s data is based on available numbers, but may change with late reported activity Data from sources deemed reliable but may contain errors and are subject to revision

Alameda County

Single Family Homes

The market for Single Family Homes saw 1,913 closed sales at a median price of $1 2M There was a total of 1,758 new listings with an average of 28 days on the market without price reduction and with an average price per square foot of $745. With a total volume of $2.6B.

Alameda County

Townhomes & Condominiums

The market for Townhomes & Condominiums saw 580 closed sales at a median price of $675K There was a total of 665 new listings with an average of 46 days on the market without price reduction and with an average price per square foot of $565. With a total volume of $420M.

Contra Costa County

What's in the Contra Costa County data?

The latest data from the housing market indicates a resilient and active landscape across Single Family Homes, Condos, and Townhomes. With 2,398 closed sales recorded during the reporting period, the market continues to exhibit robust performance, demonstrating sustained demand among buyers. The median price for these properties stands impressively at $790k, underscoring their desirability and the overall strength of the market, especially in serving upscale clientele.

Moreover, the market saw a total of 2,377 new listings, indicating healthy inventory levels and providing buyers with a diverse range of options to consider. This influx of listings reflects positively on the market's capacity to accommodate varying preferences, contributing to its dynamism and attractiveness.

A particularly notable metric is the average duration properties spend on the market before sale, which stands at 40 days without price reduction. This indicates a swift turnaround time for properties, suggesting high buyer interest and competitive conditions within the market.

Additionally, the average price per square foot remains high at $534, emphasizing the premium nature of the properties available and attracting buyers seeking upscale residences with superior features and amenities.

Overall, these indicators paint a picture of resilience and continued vitality in the housing market. Despite external factors, the market for Single Family Homes, Condos, and Townhomes appears well-positioned for sustained growth and stability in the foreseeable future.

2,377

Average Price Per SqFt -1.9% Year-over-Year

$534 New Listings

Year-over-Year

2,398

$790K Closed Sales

Year-over-Year

Year-over-Year

40 $2.4B

Average Days-on-Market Total Volume +25.0% Year-over-Year -0.6% Year-over-Year

Data includes all single family, townhome, and condominium sales in Santa Clara County sourced from MLS Listings. The most recent month’s data is based on available numbers, but may change with late reported activity Data from sources deemed reliable but may contain errors and are subject to revision

Contra Costa County

Single Family Homes

The market for Single Family Homes saw 1,891 closed sales at a median price of $850K There was a total of 1,785 new listings with an average of 37 days on the market without price reduction and with an average price per square foot of $544. With a total volume of $2.1B.

vs.

Contra Costa County

Townhomes & Condominiums

The market for Townhomes & Condominiums saw 507 closed sales at a median price of $545k There was a total of 592 new listings with an average of 49 days on the market without price reduction and with an average price per square foot of $495. With a total volume of $321M.

Santa Cruz County

What's in the Santa Cruz County data?

The latest data from the housing market indicates a resilient and active landscape across Single Family Homes, Condos, and Townhomes. With 415 closed sales recorded during the reporting period, the market continues to exhibit robust performance, demonstrating sustained demand among buyers. The median price for these properties stands impressively at $1.1 million, underscoring their desirability and the overall strength of the market, especially in serving upscale clientele.

Moreover, the market saw a total of 397 new listings, indicating healthy inventory levels and providing buyers with a diverse range of options to consider. This influx of listings reflects positively on the market's capacity to accommodate varying preferences, contributing to its dynamism and attractiveness.

A particularly notable metric is the average duration properties spend on the market before sale, which stands at 54 days without price reduction. This indicates a swift turnaround time for properties, suggesting high buyer interest and competitive conditions within the market.

Additionally, the average price per square foot remains high at $803, emphasizing the premium nature of the properties available and attracting buyers seeking upscale residences with superior features and amenities.

Overall, these indicators paint a picture of resilience and continued vitality in the housing market. Despite external factors, the market for Single Family Homes, Condos, and Townhomes appears well-positioned for sustained growth and stability in the foreseeable future.

397

Year-over-Year

Average Price Per SqFt

$803 New Listings

Year-over-Year

415

$1.1M

Year-over-Year

54 $553M Average Days-on-Market

Year-over-Year

Data includes all single family, townhome, and condominium sales in Santa Clara County sourced from MLS Listings. The most recent month’s data is based on available numbers, but may change with late reported activity Data from sources deemed reliable but may contain errors and are subject to revision

Santa Cruz County

Single Family Homes

The market for Single Family Homes saw 338 closed sales at a median price of $1.2M. There was a total of 318 new listings with an average of 52 days on the market without price reduction and with an average price per square foot of $830. With a total volume of $494M.

Santa Cruz County

Townhomes & Condominiums

The market for Townhomes & Condominiums saw 77 closed sales at a median price of $750K There was a total of 78 new listings with an average of 62 days on the market without price reduction and with an average price per square foot of $689. With a total volume of $59M.

Monterey County

What's in the Monterey County data?

The latest data from the housing market indicates a resilient and active landscape across Single Family Homes, Condos, and Townhomes. With 568 closed sales recorded during the reporting period, the market continues to exhibit robust performance, demonstrating sustained demand among buyers. The median price for these properties stands impressively at $899k, underscoring their desirability and the overall strength of the market, especially in serving upscale clientele.

Moreover, the market saw a total of 525 new listings, indicating healthy inventory levels and providing buyers with a diverse range of options to consider. This influx of listings reflects positively on the market's capacity to accommodate varying preferences, contributing to its dynamism and attractiveness.

A particularly notable metric is the average duration properties spend on the market before sale, which stands at 55 days without price reduction. This indicates a swift turnaround time for properties, suggesting high buyer interest and competitive conditions within the market.

Additionally, the average price per square foot remains high at $710, emphasizing the premium nature of the properties available and attracting buyers seeking upscale residences with superior features and amenities.

Overall, these indicators paint a picture of resilience and continued vitality in the housing market. Despite external factors, the market for Single Family Homes, Condos, and Townhomes appears well-positioned for sustained growth and stability in the foreseeable future.

525

$710 New Listings

Average Price Per SqFt +1.9% Year-over-Year -6.2% Year-over-Year

568

$899K Closed Sales

Year-over-Year

Average Days-on-Market

55

Year-over-Year

Year-over-Year

$754M

Year-over-Year

Data includes all single family, townhome, and condominium sales in Monterey County sourced from MLS Listings. The most recent month’s data is based on available numbers, but may change with late reported activity Data from sources deemed reliable but may contain errors and are subject to revision

Monterey County

Single Family Homes

The market for Single Family Homes saw 483 closed sales at a median price of $910K. There was a total of 446 new listings with an average of 56 days on the market without price reduction and with an average price per square foot of $720. With a total volume of $684M.

Monterey County

Townhomes & Condominiums

The market for Townhomes & Condominiums saw 85 closed sales at a median price of $719K There was a total of 79 new listings with an average of 55 days on the market without price reduction and with an average price per square foot of $658. With a total volume of $69M.

Almaden Valley (San Jose)

Alum Rock (San Jose)

Jose)

Cambrian (San Jose)

Central San Jose

(San Jose)

Los Altos Hills

Los Gatos/ Monte Sereno

Santa Teresa (San Jose)

South San Jose

Willow Glen (San Jose)

$8.6M $3,127

Dedicated to Success

Being an independently owned and operated franchise of Keller Williams, KW Bay Area Estates has the position as the Bay Area’s foremost luxury real estate services firm with the execution of best-in-class customer service. KWBAE’s unparalleled team consists of more than 250 associates and professionals strategically located in Los Gatos and Saratoga. Under the same ownership, we have our division of KW South Bay Commercial.

With uncompromising principles, KW Bay Area Estates has established a new standard of excellence within the industry. The company’s growth has been strategic and exciting. Since its inception, the team has successfully represented more than 10,000 transactions, totalling more than $13 billion in closed sales volume.

Dedicated to upholding unparalleled standards for integrity and client care, they strive to create a culture where agents thrive while developing their own businesses to their maximum potential. KW Bay Area Estates has distributed to their associates over $2.7 million in profit share.

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