South Bay - Weekly Market Report: MAR 6 -12, 2024

Check out this MAR 6 - 12, 2024 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 shows a moderate level of activity with a relatively low number of active listings and new listings. The swift median days on the market indicate a fast-moving market where properties are quickly being sold, suggesting a high demand relative to supply. The median sold price presents Campbell as an accessible option compared to its more expensive neighbors, making it an attractive market for a wide range of buyers.

Cupertino, known for its strong ties to the tech industry, displays a higher median sold price, which is reflective of the premium property values in this area. The number of active and new listings, combined with a slightly longer median days on the market than Campbell, suggests a more balanced market. Cupertino's real estate market is characterized by its stability and the consistent demand for properties, attributed to its desirable location and high-quality school districts.

Los Altos stands out with the highest median sold price among the cities analyzed, underscoring its status as a premium residential area. Despite a higher number of active listings, the quick turnover rate, as indicated by the low median days on the market, reveals a strong buyer interest in high-end properties. Los Altos represents a pinnacle of luxury living, attracting affluent buyers seeking exclusive homes.

Los Gatos, with a substantial number of active listings and the highest number of new listings, indicates a vibrant market with a diverse range of properties available. The median sold price positions Los Gatos as a high-end market, but with more variety in pricing compared to Los Altos. The slightly longer median days on the market could suggest a more discerning buyer pool or a broader range of property types.

San Jose, the largest city in the analysis, shows the highest number of active and new listings, reflecting its size and diversity. The median sold price is relatively accessible, considering the city's vast amenities and economic opportunities. The quick median days on the market across a large inventory suggest a highly competitive market, driven by San Jose's appeal to a wide demographic, from first-time homebuyers to investors.