Your Bay Area Real Estate Update
Single Family Home Market in January 2023
In San Mateo County, the median Single Family home cost $1,480,000 and sold in 29 days for 99% of the list price based on 160 sales in January 2023 ● Inventory was 313 up 15% from December 2022 and up 33% from January 2022 ● Number of new listings for the month of January was up 83% over December, down -29% from January of last year ● Closed sales decreased -35% from December from 247 to 160, Closed sales down -27% from January 2022
In Santa Clara County, the median Single Family home cost $1,509,000 and sold in 22 days for 99% of the list price based on 298 sales in January 2023 ● Inventory was 557 up 12% from December 2022 and up 46% from January 2022 ● Number of new listings for the month of January was up 88% over December, and down -33% from January of last year ● Closed sales were down -35% from December from 461 to 298, Closed sales down -40% from January 2022 In Santa Cruz County, the median Single Family home cost $1,160,000 and sold in 35 days for 96% of the list price based on 62 sales in January 2023 ● Inventory was 173 down -14% from December 2022 and up 41% from January 2022 ● Number of new listings for the month of January was down -14% from December, down -58% from January of last year ● Closed sales were down -27% from December from 85 to 62, Closed sales down -28% from January 2022
In Monterey County, the median Single Family home cost $849,500 and sold in 37 days for 98% of the list price based on 98 sales in January 2023 ● Inventory was 347 up 4% from December 2022 and up 38% from January 2022 ● Number of new listings for the month of January was up 46% over December, and down -32% from January of last year ● Closed sales were down -15% from December from 115 to 98, Closed sales were down -40% from January 2022
In San Benito County, the median Single Family home cost $745,000 and sold in 29 days for 99% of the list price based on 22 sales in January 2023 ● Inventory was 104 up 4% from December 2022 and up 55% from January 2022 ● Number of new listings for the month of January was up 75% over December, and up 26% from January of last year ● Closed sales were down -50% from December from 44 to 22, Closed sales down -44% from January 2022
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