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March 2024 San Francisco Bay Area housing stats

By
Real Estate Agent with (408) 425-1601 CA bre 1519182

                             San Francisco Bay Area Real Estate Summary-Q1 2024                                                                       Sam Shueh (408) 425-1601  SsHueh@gmail.com

Santa Clara County:

Very low inventory of having 0.8 month. Many wonder if they sell now how they can get another 2.5-3.5% mortgage interst rates on next home. They are waiting for interest to come down and are on hold for home sales. With a few homes on the market it is no secret every listing has ton of offers. This result in a home that are being bid up by a crowd of buyers. The sold vs asked ratio is ~105% with a marketing time of less than 2 weeks on the average. 

The other counties also look still bleak for home buyers.

There has been a series of layoffs especially in high technology. All claimed they overhired and are trying to reduce cost.  A lot of companies in Silicon Valley are benefitted from Artificial intelligence presence.

Below is the summary by county. 

Enjoy,

Sam Shueh 408-425-1601 

Housing Inventory Snapshot  
County Avg List Price 30 Day Trend Avg Sold Price 30 Day Trend Avg DOM: active/sold 30 Day Trend No Active Listings 30 Day Trend
Alameda County, CA
Single Family $948,568 +0.20% $1,069,792 -3.0% 41 / 22 -5 / 0 392 37
Luxury Single Family $2,835,416 +0.3% $2,258,548 +5.0% 39 / 14 -1 / -2 127 10
Condo/Town $558,941 -2.1% $605,013 -0.9% 52 / 25 -3 / -4 246 10
Luxury Condo/Town $1,127,543 -3.2% $1,139,722 +0.6% 26 / 14 -9 / -6 80 5
Contra Costa County, CA
Single Family $910,899 +2.3% $952,706 +9.5% 45 / 19 -2 / -7 456 79
Luxury Single Family $3,900,181 +9.2% $2,600,923 +6.7% 50 / 14 -6 / -5 147 26
Condo/Town $469,766 -3.7% $510,726 +3.1% 48 / 28 -2 / -13 215 13
Luxury Condo/Town $1,099,617 +1.1% $1,066,349 -7.8% 48 / 34 -1 / 12 71 9
Monterey County, CA
Single Family $1,415,633 +10.3% $1,040,756 +172% 70 / 36 -5 / 5 184 3
Luxury Single Family $7,827,426 +1.6% $4,690,556 -6.9% 107 / 40 -10 / -6 54 -1
Condo/Townhome $754,537 +1.7% $899,417 -3.8% 80 / 12 7 / -37 32 2
San Mateo County, CA
Single Family $2,685,018 +16.4% $2,223,106 +10.2% 81 / 17 7 / -3 225 -6
Luxury Single Family $12,560,186 +14.9% $9,014,875 +29.0% 145 / 27 -14 / -14 70 4
Condo/Town $803,513 +1.11% $890,176 -3.0% 91 / 58 -20 / 19 119 20
Luxury Condo/Town $1,941,142 -2.37% $1,826,462 -4.9% 57 / 9 7 / -6 35 6
Santa Clara County, CA
Single Family $1,935,303 -2.62% $1,937,402 +4.9% 51 / 13 -6 / -4 420 76
Luxury Single Family $7,120,865 -4.79% $4,724,277 -3.0% 139 / 22 -18 / -21 130 25
Condo/Town $831,257 -2.17% $841,117 -1.7% 41 / 22 -5 / 0 232 34
Luxury Condo/Town $1,849,925 +0.21% $1,572,259 -3.9% 54 / 11 2 / 0 73 10
Santa Cruz County, CA
Single Family $1,258,227 +7.32% $1,135,907 -0.2% 65 / 30 -7 / -24 132 23
Luxury Single Family $4,293,168 +13.6% $2,491,111 -6.0% 77 / 36 -9 / 16 35 7
Condo/Town $695,347 +11.4% $715,675 +4.1% 69 / 22 -14 / -41 33 -2

Comments(4)

Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

It has been ages Sam Shueh  glad you are posting again, were you on vacation?:) Endre

Apr 06, 2024 10:32 PM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

So very true about not wanting to give up a great mortgage rate. Thanks for sharing, make it a great Sunday and enjoy your

weekend!

Bill Salvatore, Realtor- Arizona Elite Properties

Apr 07, 2024 05:03 AM
George Souto
George Souto NMLS #65149 - Middletown, CT
Your Connecticut Mortgage Expert

Sam Shueh this is good information for both Buyers and Sellers in your area.

Apr 07, 2024 04:45 PM
Roy Kelley
Retired - Gaithersburg, MD

Thank you very much for your comments on my recent post. 

Have a productive spring.

May 28, 2024 08:30 AM