South Bay - Weekly Market Report: DEC 13 - 19, 2023

Check out this DEC 13 - 19, 2023 market report! Get the best insights on when to place a plan for your new home with this weekly market guide in South Bay.

📍 Campbell 📍 Cupertino 📍 Los Altos 📍 Los Gatos
📍 San Jose 📍 Santa Clara 📍 Saratoga

Campbell showcases a balanced market, indicated by a reasonable number of active listings and a relatively quick median days on the market. The market here seems to be moving at a steady pace, with sold listings keeping up with new listings. The median sold price suggests a moderately high-value market, appealing to a specific segment of buyers.

Cupertino's real estate market is characterized by a higher median sold price, reflecting its desirability and possibly a more upscale housing segment. Despite a low number of new listings, the market doesn't seem overly tight, as evidenced by the median days on the market. This could indicate a balanced demand-supply scenario, maintaining steady prices.

The Los Altos market stands out with the highest median sold price among these cities, hinting at a luxury segment. Its remarkably low median days on the market, combined with a healthy number of active listings, suggest a high demand for premium properties in this area. The market here is likely driven by high-income buyers seeking exclusive homes.

Los Gatos presents an interesting scenario with the highest number of active listings, yet a longer median time on the market. This could imply a slower-moving market, possibly due to pricing or specific buyer preferences. The market here might be more challenging for sellers, requiring more strategic pricing and marketing efforts.

As the largest city in the list, San Jose shows a vibrant market with the highest number of new listings and sold properties. However, the median sold price is lower than most other cities, suggesting a more diverse and accessible housing market. The median days on the market indicate a relatively quick turnover, aligning with its dynamic nature.

Santa Clara's real estate market is moderately paced, evident from the median days on the market and the number of active and sold listings. The median sold price points to a mid-range housing market. This city might be attracting a mix of first-time buyers and those looking for upgrades, balancing the demand across different housing types.

Saratoga shows a high median sold price, indicating a market skewed towards luxury properties. Despite a lower number of new listings, the market doesn't seem stagnant, as reflected by the median days on the market and the balance between active and sold listings. This suggests a consistent demand for high-end homes.

Overall Analysis
Across these cities, the real estate market exhibits varied characteristics, from high-demand luxury segments in Los Altos and Saratoga to more dynamic and diverse markets like San Jose and Santa Clara. The absence of price changes indicates stable markets across the board. High median sold prices in certain areas reflect their exclusivity and desirability. The varying median days on the market across cities highlight different market paces and buyer behaviors. Overall, the region presents a healthy mix of opportunities for different types of buyers and investors, with specific trends and dynamics characterizing each city.

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