South Bay - Weekly Market Report: DEC 6 - 12, 2023

Check out this DEC 6 - 12, 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

With 24 active listings and 6 new listings, Campbell shows a stable market. The number of sold properties (5) relative to active and new listings indicates a balanced demand-supply scenario. The median sold price of $1,199,250 and median days on market at 11 days suggest a moderately paced market, which is neither too hot nor too slow.

Cupertino's market, with a high median sold price of $2,604,000 and 12 median days on the market, indicates a premium segment with consistent demand. The lower number of new listings (3) compared to active listings (24) suggests limited new inventory entering the market, possibly maintaining the high price point.

This area shows the highest median sold price among the cities at $3,880,000, with only 20 active listings and 1 new listing. The quick median days on market (5 days) indicate a highly competitive market, possibly driven by the desirability of the location and the scarcity of available properties.

With 75 active listings and 7 sold properties, Los Gatos presents a more varied market. The relatively high median sold price of $3,089,000, combined with a median of 13 days on the market, suggests a high-value market where properties may take slightly longer to sell due to pricing.

As the city with the highest number of active listings (363) and sold properties (94), San Jose’s market is active and diverse. The median sold price at $1,250,000 and 11 median days on the market reflect a dynamic market with a good balance of supply and demand.

This city shows a balance with 25 active listings and 13 sold properties. The median sold price of $1,708,000 and 11 median days on the market indicate a healthy market with steady demand and a relatively high price point.

With 29 active listings and only 4 sold properties, Saratoga's market is less active. The high median sold price of $3,250,000 and 7 median days on the market suggest a niche market where high-value properties sell relatively quickly.

Overall Analysis: The collective analysis of these cities indicates a vibrant and diverse real estate market in the region. High median sold prices in cities like Los Altos, Los Gatos, and Saratoga reflect a strong luxury market. Cupertino and Santa Clara show signs of premium markets with consistent demand, while San Jose, with its larger volume of transactions, indicates a more varied and dynamic market. Campbell represents a more balanced and moderately paced market. The absence of significant price changes across most cities suggests market stability, with demand keeping pace with supply. The varied median days on market across cities indicate that while some markets are very fast-paced, others offer more breathing room for buyers and sellers. This diversity in market dynamics makes the region attractive to a wide range of buyers and investors.

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