The Cunningham Group - September 2023 Market Report | Palo Alto Area by Procasa Technologies, Inc

September 2023

Palo Alto area

Palo Alto Los Altos

Jump to Palo Alto Report

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

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

Jump to Santa Clara County

Monterey County

Jump to Monterey County Report

Santa Cruz County

Jump to Santa Cruz County Report

East Palo Alto

Jump to East Palo Alto Report

Sunnyvale

Jump to Sunnyvale Report

Santa Clara City

Jump to Santa Clara City Report

Jump to Saratoga Report

Saratoga

What’syourhome reallyworthin today’smarket?

That's 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. 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.

MortgageRates:Past,Present, andPossibleFuture

If you’re hoping to buy a home this year, you’re probably paying close attention to mortgage rates. Since mortgage rates impact what you can afford when you take out a home loan – and affordability is a challenge today – it’s a good time to look at the big picture of where mortgage rates have been historically compared to where they are now. Beyond that, it’s important to understand their relationship with inflation for insights into where mortgage rates might go in the near future.

Giving Context to the Sticker Shock

Freddie Mac has been tracking the 30-year fixed mortgage rate since April of 1971. Every week, they release the results of their Primary Mortgage Market Survey, which averages mortgage application data from lenders across the country (see graph below):

Looking at the right side of the graph, mortgage rates have increased significantly since the start of last year. But even with that rise, today’s rates are still below the 52-year average. While that historical perspective is good context, buyers have gotten used to mortgage rates between 3% and 5%, which is where they’ve been over the past 15 years.

That’s important because it explains why the recent jump in rates might have you feeling sticker shock even though they’re close to their long-term average. While many buyers have adjusted to the elevated rates over the past year, a slightly lower rate would be a welcome sight. To determine if that’s a realistic possibility, it’s important to look at inflation

Where Could Mortgage Rates Go in the Future?

The Federal Reserve has been working hard to lower inflation since early 2022. That’s significant because, historically, there’s been a connection between inflation and mortgage rates (see graph below):

This graph shows a pretty reliable relationship between inflation and mortgage rates. Looking at the left side of the graph, each time inflation moves significantly (shown in blue), mortgage rates follow suit shortly after (shown in green).

The circled portion of the graph points out the most recent spike in inflation, with mortgage rates following closely behind. As inflation has moderated a bit this year, mortgage rates haven’t yet made a similar move. That means, if history is any guide, the market is waiting for mortgage rates to follow inflation and head back down. It’s impossible to accurately predict where mortgage rates will go for sure, but moderating inflation means mortgage rates going down in the near future would fit a well-established trend.

Source: Keeping Current Matters

Home Concierge's secret weapon is our local project directors, who visit and personally manage each of our projects. When the agent reached out with a tight deadline, project director Azary Khalfan took it in stride and immediately called on her local vendors and subcontractors. Our in-house designer, Samantha Black, worked quickly over the holidays to design a new kitchen while Azary ordered finishes for other parts of the home. Ingenuity, strong vendor connections, and hard work transformed the kitchen in 17 days! The home sold for over $400,000 over asking in just one week.

BEFORE AFTER

Tips to Harden Your Home During Wildfires

Source: Cal Fire

ROOF

Build your roof or re-roof with materials such as composition, metal, clay, or tile Remove any vegetative debris from the roof.

VENTS

Remove all openings with 1/16-inch to 1/4-inch metal mesh Do not use fiberglass or plastic mesh because they can melt and burn

EAVES + SOFFITS

Eaves should be boxed in and protected with ignition-resistant or non-combustible materials.

WINDOWS

Install dual-paned windows with one pane of tempered glass to reduce the chance of breakage in a fire.

WALLS

Use ignition-resistant materials, such as stucco, fiber cement, wall siding, fire retardant, treated wood, etc.

DECKS

Create an ember-resistant zone around and under all decks and clear debris from under your deck.

FENCES

Separate your fences from your house or upgrade the last 5 feet of the fence to a non-combustible material.

GUTTERS

Keep rain gutters clear or enclose rain gutters to prevent accumulation of plant debris

DRIVEWAY

Driveways should be built and maintained in accordance with state and local codes to allow fire and emergency vehicles to reach

CHIMNEY

Close the fireplace during fire season when the chimney is not being used.

PATIO COVER

Use the same ignitionresistant materials for patio coverings as a roof

DECKS

Have a fire extinguisher and tools such as a shovel, rake, bucket, and hose available for fire

BroughtToYouBy:

PaloAlto

What's in the Palo Alto data

There were 81 single-family homes for sale, providing 1.7 months of inventory. There we new listings and 29 homes sold at a median of $3.9m. The median overbid percentage w 98.5%, with an average of 19 days on the ma

There were 22 condo and townhome units fo sale, providing 1.1 months of inventory. Ther were 6 new listings and 5 units sold at a med sale price of $1.6m. The median overbid percentage was 97.6%, with an average of 19 on the market.

e-Family Homes

ngs

29 Sold Listings

7 f Inventory

$3.9M Median Sale Price .5% ale vs List

19 Avg Days on Market

sourced from InfoSparks and Broker Metrics, includes all single-family homes, townhomes in the California Area above from August 2022 to August 2023. include preliminary data, and may vary from the time the data was gathered. deemed reliable but not guaranteed. DRE# 01511642. Copyright KW Advisors Palo Alto 2023. Each office is independently owned and operated.

6 New Listings

5 Sold Listings

1.1 Months of Inventory

$1.6M Median Sale Price 97.6% Median Sale vs List 19 Avg Days on Market

Median SalesPrice

Single-Family Homes

The median sales price has increased from $3 4m last August 2022, to $3 9m as of August 2023

Condos & Townhomes

The median sales price has remained at $1.6m since last August 2022.

AVGDays OntheMarket

Single-Family Homes

The average time spent on the market went down from 31 days last August 2022, to 19 days as of August 2023

Condos & Townhomes

The average time spent on the market went down from 34 days in August 2022, to 19 days as of August 2023

Overbids

Single-Family Homes

The overbid percentage has decreased from 100 8% last August 2022, to 98 5% a year later

Condos & Townhomes

The overbid percentage has decreased from 100.4% last August 2022, to 97.6% a year later.

Redwood City

What's in the Redwood City data?

There were 81 single-family homes for sale, providing 1.3 months of inventory. There were 41 new listings and 34 homes sold at a median price of $2.1m. The median overbid percentage was 102 4%, averaging 38 days on the market

There were 36 condo and townhome units for sale, providing 4.3 months of inventory. There were 6 new listings and 8 units sold at a median sale price of $1.2m. The median overbid percentage was 102.4%, with an average of 15 days on the market.

6 New Listings

8 Sold Listings

4.3 Months of Inventory

102.4%

Median Sale vs List 15 Avg Days on Market

RedwoodCity

AUGUST 2022 - AUGUST 2023

Single-Family Homes

Last 12 months, year-over-year.

Condos & Townhomes

Last 12 months, year-over-year

Median SalesPrice

Single-Family Homes

The median sales price has decreased from $2 2m last August 2022, to $2 1m as of August 2023

Condos & Townhomes

The median sales price has decreased from $1.4m last August 2022, to $1.2m as of August 2023.

AVGDays OntheMarket

Single-Family Homes

The average time spent on the market went up from 25 days last August 2022, to 38 days as of August 2023

Condos & Townhomes

The average time spent on the market went up from 11 days in August 2022, to 15 days as of August 2023

Overbids

Single-Family Homes

The overbid percentage has increased from 97 9% last August 2022, to 102 4% a year later

Condos & Townhomes

The overbid percentage has increased from 99.6% last August 2022, to 102.4% a year later.

Portola Valley

What's in the Portola Valley data?

There were 13 single-family homes for sale, providing 0 months of inventory. There were 2 new listings, and 3 homes sold at a median price of $7.4m. The median overbid percentage was 87 9%, with an average of 0 days on the market

There is no data for condos and townhomes this month.

Single-Family Homes

2 New Listings

3 Sold Listings

0 Months of Inventory

$7.4M Median Sale Price

87.9%

Median Sale vs List

0 Avg Days on Market

The data, sourced from InfoSparks and Broker Metrics, includes all single-family homes, condos and townhomes in the California Area above from August 2022 to August 2023. This may include preliminary data, and may vary from the time the data was gathered. All data is deemed reliable but not guaranteed. DRE# 01511642. Copyright KW Advisors Palo Alto 2023. Each office is independently owned and operated.

CONDO

Condo & Townhomes

No Data For This Month.

Median SalesPrice

Single-Family Homes

The median sales price has increased from $3 4m last August 2022, to $7 4m as of August 2023

Condos & Townhomes No Data For This Month.

AVGDays OntheMarket

Single-Family Homes

The average time spent on the market went down from 36 days last August 2022, to 0 days as of August 2023

Condos & Townhomes No Data For This Month

Overbids

Single-Family Homes

The overbid percentage has decreased from 95 3% last August 2022, to 87 9% a year later

Condos & Townhomes No Data For This Month.

Wha There w providi new lis of $2.8 97.3%, There w sale, pr 10 new price o was at market

Single-Family Homes

36 New Listings

24 Sold Listings

2.1 Months of Inventory

$2.8M Median Sale Price

97.3% Median Sale vs List

26 Avg Days on Market

Median SalesPrice

Single-Family Homes

The median sales price has increased from $2 7m last August 2022, to $2 8m as of August 2023

Condos & Townhomes

The median sales price has increased from $920k last August 2022, to $950k as of August 2023.

AVGDays OntheMarket

Single-Family Homes

The average time spent on the market went down from 28 days last August 2022, to 26 days as of August 2023

Condos & Townhomes

The average time spent on the market went down from 22 days in August 2022, to 12 days as of August 2023

Overbids

Single-Family Homes

The overbid percentage has increased from 95 8% last August 2022, to 97 3% a year later

Condos & Townhomes

The overbid percentage has decreased from 96.2% last August 2022, to 91% a year later.

Atherton

What's in the Atherton data?

There were 31 single-family homes for sale, providing 1.5 months of inventory. There were 6 new listings and 12 homes sold at a median price of $8.2m. The median overbid percentage was 89.1%, with an average of 88 days on the market.

There were 0 condo and townhome units for sale, providing 0 months of inventory. There were 0 new listings, and 1 unit sold at a median sale price of $1.5m. The median overbid percentage was 0%, with an average of 0 days on the market.

Single-Family Homes

6 New Listings

6 Sold Listings

1.5 Months of Inventory

$8.2M Median Sale Price

89.1% Median Sale vs List

88 Avg Days on Market

New Listings

1 Sold Listings

Months of Inventory

$1.5M

Median Sale Price 0%

Median Sale vs List 0 Avg Days on Market

AUGUST 2022 - AUGUST 2023

mily Homes onths, year-over-year.

Townhomes onths, year-over-year

Median SalesPrice

Single-Family Homes

The median sales price has increased from $7m last August 2022, to $8 2m as of August 2023

Condos & Townhomes

The median sales price has increased from $0 last August 2022, to $1.5m as of August 2023.

AVGDays OntheMarket

Single-Family Homes

The average time spent on the market went up from 59 days last August 2022, to 88 days as of August 2023

Condos & Townhomes

The average time spent on the market has remained at 0 days since August 2022

Overbids

Single-Family Homes

The overbid percentage has decreased from 91 3% last August 2022, to 89 1% a year later

Condos & Townhomes

The overbid percentage has increased from 0% last August 2022, to 100.1% a year later.

Los

What's in th

There were 43 sin providing 0.7 mon new listings and 2 of $4.3m. The me 98.4%, with an av

There were 14 co sale, providing 0. were 8 new listing sale price of $1.5 percentage was 1 days on the mark

gle-Family Homes

0 Listings

20 Sold Listings

.7 hs of Inventory

$4.3M Median Sale Price

8.4% an Sale vs List

30 Avg Days on Market

ta, sourced from InfoSparks and Broker Metrics, includes all single-family homes, and townhomes in the California Area above from August 2022 to August 2023. may include preliminary data, and may vary from the time the data was gathered. is deemed reliable but not guaranteed. DRE# 01511642. Copyright KW Advisors Palo Alto 2023. Each office is independently owned and operated.

Condo &

New Listings

0.8

Months of Inventory

109.2%

Median Sale vs List

AUGUST 2022 - AUGUST 2023

mes year-over-year.

omes year-over-year

Median SalesPrice

Single-Family Homes

The median sales price has increased from $3 8m last August 2022, to $4 3m as of August 2023

Condos & Townhomes

The median sales price has increased from $1.2m last August 2022, to $1.5m as of August 2023.

AVGDays OntheMarket

Single-Family Homes

The average time spent on the market went up from 23 days last August 2022, to 30 days as of August 2023

Condos & Townhomes

The average time spent on the market went down from 25 days in August 2022, to 21 days as of August 2023

Overbids

Single-Family Homes

The overbid percentage has increased from 97 8% last August 2022, to 98 4% a year later

Condos & Townhomes

The overbid percentage has increased from 97.3% last August 2022, to 109.2% a year later.

Homes

320 Sold Listings

$1.6M

Median Sale Price

Avg Days on Market

and Broker Metrics, includes all single-family homes, California Area above from August 2022 to August 2023. and may vary from the time the data was gathered. guaranteed. DRE# 01511642. Copyright KW Advisors Palo Alto 2023. Each office is independently owned and operated.

170

SanJose

AUGUST 2022 - AUGUST 2023

Single-Family Homes

Last 12 months, year-over-year.

Condos & Townhomes

Last 12 months, year-over-year

Median SalesPrice

Single-Family Homes

The median sales price has increased from $1 4m last August 2022, to $1 6m as of August 2023

Condos & Townhomes

The median sales price has increased from $751k last August 2022, to $855k as of August 2023.

AVGDays OntheMarket

Single-Family Homes

The average time spent on the market went up from 29 days last August 2022, to 20 days as of August 2023

Condos & Townhomes

The average time spent on the market went up from 28 days in August 2022, to 20 days as of August 2023

Overbids

Single-Family Homes

The overbid percentage has increased from 96 3% last August 2022, to 104 4% a year later

Condos & Townhomes

The overbid percentage has increased from 97.5% last August 2022, to 103.2% a year later.

Moun View

What's in the data?

There were 42 single providing 0.5 months new listings, and 26 h of $2.6m. The media 106 3%, with an avera

There were 48 condo sale, providing 0.9 m were 28 new listings sale price of $1.3m. T percentage was 101. days on the market.

2.6M n Sale Price

6 Listings s includes all single-family homes, from August 2022 to August 2023. the time the data was gathered. 01511642. Copyright KW Advisors Palo Alto 2023. Each office is independently owned and operated.

1 ays on Market

28 New Listings

30 Sold Listings

0.9 Months of Inventory

101.6% Median Sale vs List 25 Avg Days on Market

Median SalesPrice

Single-Family Homes

The median sales price has decreased from $2 8m last August 2022, to $2 6m as of August 2023

Condos & Townhomes

The median sales price has remained at $1.3m since August 2022.

AVGDays OntheMarket

Single-Family Homes

The average time spent on the market went down from 18 days last August 2022, to 11 days as of August 2023

Condos & Townhomes

The average time spent on the market went down from 28 days in August 2022, to 25 days as of August 2023

Overbids

Single-Family Homes

The overbid percentage has increased from 99 2% last August 2022, to 106 3% a year later

Condos & Townhomes

The overbid percentage has increased from 97.5% last August 2022, to 101.6% a year later.

SanMateo County

What's in the San Mateo Cou data?

There were 513 single-family homes for sale, providing 2 months of inventory. There were 3 new listings, and 143 homes sold at a median price of $1.6m. The median overbid percentag was 101 2%, with an average of 27 days on th market.

There were 206 condo and townhome units fo sale, providing 2.4 months of inventory. There were 121 new listings and 44 units sold at a median sale price of $995k. The median overb percentage was 100%, with an average of 35 d on the market

e-Family

Homes

6 tings of Inventory

143 Sold Listings

$1.6M Median Sale Price

1.2% Sale vs List

27 Avg Days on Market

SanMateo

AUGUST 2022 - AUGUST 2023

Single-Family Homes

Last 12 months, year-over-year.

Condos & Townhomes

Last 12 months, year-over-year

Median SalesPrice

Single-Family Homes

The median sales price has decreased from $1 8m last August 2022, to $1 6m as of August 2023

Condos & Townhomes

The median sales price has increased from $900k last August 2022, to $995k as of August 2023.

AVGDays OntheMarket

Single-Family Homes

The average time spent on the market went up from 25 days last August 2022, to 27 days as of August 2023

Condos & Townhomes

The average time spent on the market has remained at 35 days since August 2022

Overbids

Single-Family Homes

The overbid percentage has increased from 100% last August 2022, to 101 2% a year later

Condos & Townhomes

The overbid percentage has remained at 100% since last August 2022.

SantaC County

What's in the Santa County data?

There were 846 single-family h providing 1.5 months of inven new listings, and 278 homes s price of $1.7m. The median ov was 103 7%, with an average o market.

398 condo and townhome uni providing 1.6 months of inven new listings and 95 units sold price of $950k. The median ov was 102.3%, with an average o market

rice s single-family homes, 2022 to August 2023. data was gathered. Copyright KW Advisors

362 New Listings

1.6

SantaClaraCounty

AUGUST 2022 - AUGUST 2023

Single-Family Homes

Last 12 months, year-over-year.

Condos & Townhomes

Last 12 months, year-over-year

Median SalesPrice

Single-Family Homes

The median sales price has increased from $1 6m last August 2022, to $1 7m as of August 2023

Condos & Townhomes

The median sales price has increased from $900k last August 2022, to $950k as of August 2023.

AVGDays OntheMarket

Single-Family Homes

The average time spent on the market went down from 25 days last August 2022, to 20 days as of August 2023

Condos & Townhomes

The average time spent on the market went down from 25 days last August 2022, to 18 days as of August 2023

Overbids

Single-Family Homes

The overbid percentage has increased from 99 4% last August 2022, to 103 7% a year later

Condos & Townhomes

The overbid percentage has increased from 100% last August 2022, to 102.3% a year later.

Monterey County

What's in the Monterey County data?

There were 520 single-family homes for sale, providing 1.6 months of inventory. There were 209 new listings and 167 homes sold at a median price of $899k. The median overbid percentage was 96 6%, with an average of 39 days on the market.

There were 54 condo and townhome units for sale, providing 2.3 months of inventory. There were 28 new listings and 20 units sold at a median sale price of $812k. The median overbid percentage was 100.4%, with an average of 23 days on the market

Single-Family Homes

209 New Listings

167 Sold Listings

1.6 Months of Inventory

$899K Median Sale Price

96.6%

Median Sale vs List

39 Avg Days on Market

28 New Listings

Listings

MontereyCounty

AUGUST 2022 - AUGUST 2023

Single-Family Homes

Last 12 months, year-over-year.

Condos & Townhomes

Last 12 months, year-over-year

Median SalesPrice

Single-Family Homes

The median sales price has increased from $840k last August 2022, to $890k as of August 2023

Condos & Townhomes

The median sales price has increased from $532k last August 2022, to $812k as of August 2023.

AVGDays OntheMarket

Single-Family Homes

The average time spent on the market went up from 34 days last August 2022, to 39 days as of August 2023

Condos & Townhomes

The average time spent on the market went down from 31 days in August 2022, to 23 days as of August 2023

Overbids

Single-Family Homes

The overbid percentage has increased from 93 8% last August 2022, to 96 6% a year later

Condos & Townhomes

The overbid percentage has increased from 96.6% last August 2022, to 100.4% a year later.

SantaC County

What's in the Santa County data?

There were 400 single-family h providing 1.9 months of inven new listings, and 122 homes s price of $1.2m. The median ov was 98 3%, with an average of market.

There were 106 condo and tow sale, providing 1.7 months of i were 51 new listings and 29 un sale price of $805k. The media percentage was 99.8%, with an on the market

omes

122

Sold Listings

$1.2M

Median Sale Price

Avg Days on Market

Broker Metrics, includes all single-family homes, Area above from August 2022 to August 2023. may vary from the time the data was gathered. guaranteed. DRE# 01511642. Copyright KW Advisors Palo Alto 2023. Each office is independently owned and operated.

New Listings

1.7

Months of Inventory

99.8%

Median Sale vs List

ruzCounty

AUGUST 2022 - AUGUST 2023

Median SalesPrice

Single-Family Homes

The median sales price has decreased from $1 3m last August 2022, to $1 2m as of August 2023

Condos & Townhomes

The median sales price has remained at $805k since last August 2022.

AVGDays OntheMarket

Single-Family Homes

The average time spent on the market went up from 30 days last August 2022, to 37 days as of August 2023

Condos & Townhomes

The average time spent on the market went up from 18 days in August 2022, to 21 days as of August 2023

Overbids

Single-Family Homes

The overbid percentage has increased from 95 5% last August 2022, to 98 3% a year later

Condos & Townhomes

The overbid percentage has increased from 97.3% last August 2022, to 99.8% a year later.

East PaloAlto

What's in the East Palo Alto data?

There were 15 single-family homes for sale, providing 0.9 months of inventory. There were 8 new listings, and 6 homes sold at a median price of $1m. The median overbid percentage was 104 7%, with an average of 19 days on the market

There were 2 condo and townhome units for sale, providing 1 month of inventory. There was 1 new listing and 2 units sold at a median sale price of $820k. The median overbid percentage was 97.2%, with an average of 1 day on the market.

Single-Family Homes

8 New Listings

6 Sold Listings

0.9 Months of Inventory

$1M Median Sale Price

104.7% Median Sale vs List

19 Avg Days on Market

1 New Listings

2 Sold Listings

Median SalesPrice

Single-Family Homes

The median sales price has increased from $972k last August 2022, to $1m as of August 2023

Condos & Townhomes

The median sales price has decreased from $890k last August 2022, to $820k as of August 2023.

AVGDays OntheMarket

Single-Family Homes

The average time spent on the market went down from 33 days last August 2022, to 19 days as of August 2023

Condos & Townhomes

The average time spent on the market went up from 0 days in August 2022, to 1 day as of August 2023

Overbids

Single-Family Homes

The overbid percentage has increased from 104 2% last August 2022, to 104 7% a year later

Condos & Townhomes

The overbid percentage has decreased from 100.1% last August 2022, to 97.2% a year later.

Sunnyvale

What's in the Sunnyvale data?

There were 61 single-family homes for sale, providing 0.3 months of inventory. There were 43 new listings, and 43 homes sold at a median price of $2.1m. The median overbid percentage was 107.4%, with an average of 15 days on the market.

There were 38 condo and townhome units for sale, providing 0.7 months of inventory. There were 25 new listings and 22 units sold at a median sale price of $1.2m. The median overbid percentage was 100.8%, with an average of 20 days on the market.

Single-Family Homes

43 New Listings

43 Sold Listings

0.3 Months of Inventory

$2.1M Median Sale Price

107.4% Median Sale vs List

15 Avg Days on Market

25 New Listings

22 Sold Listings

0.7 Months of Inventory

100.8% Median Sale vs List 20 Avg Days on Market

Sunnyvale

AUGUST 2022 - AUGUST 2023

Single-Family Homes

Last 12 months, year-over-year.

Condos & Townhomes

Last 12 months, year-over-year

Median SalesPrice

Single-Family Homes

The median sales price has increased from $2m last August 2022, to $2 1m as of August 2023

Condos & Townhomes

The median sales price has increased from $1.4m last August 2022, to $1.2m as of August 2023.

AVGDays OntheMarket

Single-Family Homes

The average time spent on the market went down from 16 days last August 2022, to 15 days as of August 2023

Condos & Townhomes

The average time spent on the market went down from 27 days in August 2022, to 20 days as of August 2023

Overbids

Single-Family Homes

The overbid percentage has increased from 97 2% last August 2022, to 107 4% a year later

Condos & Townhomes

The overbid percentage has increased from 99.1% last August 2022, to 100.8% a year later.

SantaClara City

What's in the Santa Clara City data?

There were 63 single-family homes for sale, providing 0.7 months of inventory. There were 45 new listings and 34 homes sold at a median price of $1.9M. The median overbid percentage was 110 5%, with an average of 10 days on the market

39 condo and townhome units were for sale, providing 1.6 months of inventory. There were 28 new listings and 17 units sold at a median sale price of $915k. The median overbid percentage was 104%, with an average of 12 days on the market.

Single-Family Homes

45 New Listings

34 Sold Listings

0.7 Months of Inventory

$1.9M Median Sale Price

110.5% Median Sale vs List

10 Avg Days on Market

SantaClaraCity

AUGUST 2022 - AUGUST 2023

Single-Family Homes

Last 12 months, year-over-year.

Condos & Townhomes

Last 12 months, year-over-year

Median SalesPrice

Single-Family Homes

The median sales price has increased from $1 6m last August 2022, to $1 9m as of August 2023

Condos & Townhomes

The median sales price has increased from $895k last August 2022, to $915k as of August 2023.

AVGDays OntheMarket

Single-Family Homes

The average time spent on the market went down from 22 days last August 2022, to 10 days as of August 2023

Condos & Townhomes

The average time spent on the market went down from 27 days in August 2022, to 12 days as of August 2023

Overbids

Single-Family Homes

The overbid percentage has increased from 98 9% last August 2022, to 110 5% a year later

Condos & Townhomes

The overbid percentage has increased from 100% last August 2022, to 104.0% a year later.

Sa

What'

There we providing new listin of $4.2m 98.1%, wi

There we providing new listin of $1.2m 96.8%, wi

Msingle-family homes, August 2023. was gathered. KW Advisors et

New Listings

2 Sold Listings

0.3

Months of Inventory

$1.2M

Median Sale Price 96.8%

Median Sale vs List

12 Avg Days on Market

Saratoga

AUGUST 2022 - AUGUST 2023

Single-Family Homes

Last 12 months, year-over-year.

Condos & Townhomes

Last 12 months, year-over-year

Median SalesPrice

Single-Family Homes

The median sales price has increased from $3 7m last August 2022, to $4 2m as of August 2023

Condos & Townhomes

The median sales price has decreased from $1.8m last August 2022, to $1.2m as of August 2023.

AVGDays OntheMarket

Single-Family Homes

The average time spent on the market went down from 28 days last August 2022, to 22 days as of August 2023

Condos & Townhomes

The average time spent on the market went down from 14 days in August 2022, to 12 days as of August 2023

Overbids

Single-Family Homes

The overbid percentage has increased from 94 4% last August 2022, to 98 1% a year later

Condos & Townhomes

The overbid percentage has increased from 89.6% last August 2022, to 96.8% a year later.