South Bay - Weekly Market Report: DEC 20 - 27, 2023

Check out this DEC 20 - 27, 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

Market Dynamics: The real estate market in Campbell shows a stable yet limited inventory with 5 active listings. The absence of new listings indicates a stagnant market in terms of new properties.
Sales Activity: With 4 properties sold recently, the sales volume is relatively high compared to the inventory.
Pricing Trends: The median sold price is $1,657,500, suggesting a high-value market.
Market Velocity: Properties spend an average of 26 days on the market, indicating a fairly quick turnover.

Market Dynamics: Cupertino’s market, with 9 active listings, shows more availability than Campbell. No new listings signify a similar stagnation.
Sales Activity: A lower sales volume with just 2 sold, possibly indicating less buyer activity.
Pricing Trends: The high median sold price of $2,821,093 reflects a premium property market.
Market Velocity: The median of 8 days on the market is remarkably quick, suggesting high demand.

Market Dynamics: With 12 active listings, Los Altos presents a more varied market. The absence of new listings suggests a pause in new properties entering the market.
Sales Activity: With 3 properties sold, the sales volume is moderate.
Pricing Trends: The median sold price at $1,210,000 is comparatively lower, possibly indicating more affordable options.
Market Velocity: Properties are taking longer to sell, with a median of 32 days on the market.

Market Dynamics: A significantly larger inventory with 60 active listings indicates a very active market in Los Gatos.
Sales Activity: The low sales number (2 sold) compared to listings suggests a slower-moving market.
Pricing Trends: A median sold price of $1,550,000 indicates a market with high-value properties.
Market Velocity: The longest median days on the market (62 days) in this group signals a slower sale pace.

Market Dynamics: With 281 active listings, San Jose’s market is the most populated, indicating a wide range of options.
Sales Activity: 37 properties sold reflects a healthy sales volume.
Pricing Trends: The median sold price of $1,270,000 is moderate, offering diverse property values.
Market Velocity: The median of 16 days on the market shows a very active market with quick sales.

Market Dynamics: Santa Clara, with 23 active listings, shows a moderately active market.
Sales Activity: The sale of 4 properties indicates a steady but not brisk sales pace.
Pricing Trends: A median sold price of $1,285,000 suggests a market with moderately high-value properties.
Market Velocity: An average of 10 days on the market indicates a relatively quick turnover.

Market Dynamics: Saratoga, with 20 active listings, offers a variety of choices.
Sales Activity: 3 properties sold indicates a moderate sales pace.
Pricing Trends: The high median sold price of $2,920,000 suggests a luxury market segment.
Market Velocity: Properties here take longer to sell, with a median of 49 days on the market.

Overall Analysis
Trend Summary: The data shows a varied real estate landscape across these cities. High-value markets like Cupertino, Saratoga, and Los Altos cater to premium segments, whereas cities like San Jose and Santa Clara offer more diverse pricing.
Market Activity: Most cities are experiencing a stagnation in new listings, which could lead to a scarcity of options and potentially drive prices up.
Sales Velocity: Cupertino, Santa Clara, and San Jose show quicker sales, indicating higher demand, whereas Los Gatos and Saratoga experience slower market movement.
Pricing Patterns: There's a clear distinction between high-end markets (Cupertino, Saratoga) and more moderate ones (Los Altos, San Jose), reflecting the varied demographic and economic landscapes of these areas.

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