BHRE Market report for the San Francisco Bay area September 2022

Market Report 

Market report for the San Francisco Bay area 

September 2022. 

Copyright by KW Advisors 2022

San Francisco 

Bay area 

Alameda 

Jump to Alameda Report 

Contra Costa 

Jump to Contra Costa Report 

Napa 

Jump to Napa Report 


Jump to San Francisco Report

San Mateo 

Jump to San Mateo Report 

Santa Clara 

Jump to Santa Clara Report 

Solano 

Jump to Solano Report 

Sonoma 

Jump to Sonoma Report 

Southern/Central 

Marin 

Jump to Marin Report

Monthly Economic Report 

Young Americans Dominate August's Jobs 

Report 

The Bureau of Labor Statistics (BLS) reported that there were 315,000 jobs 

created in August, coming in just above expectations of 300,000 new jobs. 

Private Payrolls Show a Slowing Trend 

The ADP Employment Report, which measures private sector payrolls, 

showed that there were only 132,000 jobs created in August. 

Initial Jobless Claims Moderate in Recent 

Weeks 

Initial Jobless Claims decreased by 5,000 in the latest week, as 232,000 

people filed for unemployment benefits for the first time.

Home Prices Continue to Rise, Albeit at a Slower 

Pace 

The Case-Shiller Home Price Index, which is considered the "gold 

standard" for appreciation, showed home prices rose 0.6% in June and 

18% year over year. 

Jen Marshall 

NMLS# 308644 

Loan Consultant 

(415) 464-6618 office 

(415) 205-3771 cell 

(833) 523-2760 fax 

jenmarshall@loandepot.com 

https://www.loanDepot.com/jenmarshall 

Icon 700 Larkspur Landing Circle Suite 210 

Larkspur, California 94939

What’s your home 

really worth in 

today’s market? 

That's really the question you should be asking 

yourself. 

Our market is incredibly diverse and changes 

rapidly. Values vary not just by neighborhood, but 

by street. Your home isn't necessarily worth what 

your neighbors is. At the end of the day, the 

current market sets the value of your home. 

So, do you know what your home is worth in 

today's market? 

I can help... 

Contact me for a confidential, no obligation, 

assessment of your home's value.

Expert Forecasts 

on Mortgage 

Rates 

If you’ve been thinking of buying a home, you 

may have been watching what’s happened with 

mortgage rates over the past year. It’s true 

they’ve risen dramatically, but where will they go 

from here, especially as the market continues to 

slow? 

As you think about your homeownership goals 

and decide if now’s the time to make your move, 

the best place to turn to for that information is 

the professionals. Here’s a summary of the latest 

mortgage rate forecasts from housing market 

experts. READ MORE

Alameda 

What's in the Alameda data? 

In Alameda the median sold price for single-family homes 

in August decreased month-over-month to $1.2 million. 

The number of homes sold decreased to 791, and the 

number of new listings increased to 997. The number of 

condo & townhomes sales was static at $717 thousand 

month-over-month with 268 units sold and 384 new 

listings. Buyers are also still being aggressive with their 

offer prices, with the median offer price continuing to be 

about 100%. There is no doubt that higher interest rates 

have impacted demand for homes, especially in June when 

rates had reached their apex. But low inventory continues 

to be a factor as well. A balanced market is considered 

representative of 6 months’ supply of homes. When 

factoring in the amount of completed homes, the month’s 

supply of homes available was really less than a month at 

25 days. This ongoing imbalance of supply and demand 

should continue to be supportive of home prices.

SFH 

Single Family Homes 

997 

New Listings 

791 

Sold Listings 

1.7 

Months of Inventory 

$1.2M 

Median Sale Price 

100% 

Median Sale vs List 

23 

Avg Days on Market 

The data, sourced from Broker Metrics, includes all single-family homes, condos and 

townhomes in the California Area from August 2021 to August 2022. This may include 

preliminary data, and may vary from the time the data was gathered. All data is deemed 

reliable but not guaranteed. Questions may be directed to KW Advisors. 415.483.9285 

DRE# 01995149 | DRE# 01906450 Copyright KW Advisors 2022. Each Office is 

independently owned and operated.

CONDO 

Condo & Townhomes 

384 

New Listings 

268 

Sold Listings 

1.8 


$717K 


100% 


25 

Avg Days on Market

Alameda 

AUGUST 2021 - AUGUST 2022 

LISTINGS FOR SALE VS SOLD LISTINGS 

3,000 

2,000 

1,000 

0 

August 2022 

September 2022 

October 2022 

November 2022 

December 2022 

January 2022 

February 2022 

March 2022 

April 2022 

May 2022 

June 2022 

July 2022 



Last 12 months, year-over-year. 

1,250 

1,000 

750 

500 

250 

0 














Condos & Townhomes 

Last 12 months, year-over-year.

Median 

Sales Price 

$2,000,000 

$1,500,000 


The median sales price slightly 

decreased from $1.29m last 

year's August to $1.21m this 

year. 

$1,000,000 

$500,000 


The median sales price has 

slightly increased from $715k 

last August 2021 to $717k by 

August 2022. 

$0 

August 2021 

September 2021 

October 2021 

November 2021 

December 2021 









30 

AVG Days 

On the Market 

20 


10 

The average days on market has 

increased from 14 days of the same 

month last year, to 23 days this 

year. 

0 

August 2021 


October 2021 

November 2021 

December 2021 











gone up from last year's August 

with 18 days, to 25 days this year. 

Overbids 

125% 


The overbid percentage has 

decreased from 110.60% last 

year's August, to 100% this year. 

100% 

75% 

50% 


The overbid percentage steadily 

decreased from 104.80% of 

August 2021, 100% a year later. 

25% 

0% 

August 2021 


October 2021 

November 2021 

December 2021 








August 2022

Contra 

Costa 

What's in the Contra Costa data? 

In Contra Costa the median sold price for single-family homes 

in August decreased month-over-month to $855 thousand. The 

number of homes sold decreased to 749, and the number of 

new listings increased to 980. The number of condo & 

townhomes sales was static at $598 thousand month-overmonth 

with 242 units sold and 260 new listings. Buyers are 

also still being aggressive with their offer prices, with the 

median offer price continuing to be about 100%. There is no 

doubt that higher interest rates have impacted demand for 

homes, especially in June when rates had reached their apex. 

But low inventory continues to be a factor as well. A balanced 

market is considered representative of 6 months’ supply of 

homes. When factoring in the amount of completed homes, 

the month’s supply of homes available was really less than a 

month at 25 days. This ongoing imbalance of supply and 

demand should continue to be supportive of home prices.

SFH 


980 

New Listings 

749 

Sold Listings 

1.8 


$855K 


98% 


24 








CONDO 


260 

New Listings 

242 

Sold Listings 

1.4 


$598K 


99.7% 


21 


Contra Costa 



3,000 

2,000 

1,000 

0 
















750 

500 

250 

0 
















Median 

Sales Price 

$1,000,000 

$750,000 


The median sales slightly 

decreased from $870k of last 

year's August, to $855k this year. 

$500,000 

$250,000 


The median sales price rose 

from $584k last August 2021 

to $598k by August 2022. 

$0 














25 

20 

15 

AVG Days 


10 

5 

0 
















increased from 13 days last year's 

August, to 24 days a year later. 



increased from 16 days last year's 

August, to 21 days a year later. 

Overbids 

125% 


The overbid percentage goes 

down from 106.20% of last 


100% 

75% 

50% 


The overbid percentage goes 

down from 102.50% of last 

year's August, to 99.70% this 

year. 

25% 

0% 














Napa 

What's in the Napa data? 

In Napa the median sold price for single-family homes in 

August decreased month-over-month to $1 million. The 

number of homes sold decreased to 49, and the number of 

new listings increased to 85. The number of condo & 

townhomes sales was static at $700 thousand month-overmonth 

with 3 units sold and 10 new listings. Buyers are 

also still being aggressive with their offer prices, with the 

median offer price continuing to be about 100%. There is 

no doubt that higher interest rates have impacted demand 

for homes, especially in June when rates had reached their 

apex. But low inventory continues to be a factor as well. A 

balanced market is considered representative of 6 months’ 

supply of homes. When factoring in the amount of 

completed homes, the month’s supply of homes available 

was really less than a month at 25 days. This ongoing 

imbalance of supply and demand should continue to be 

supportive of home prices.

SFH 


85 

New Listings 

49 

Sold Listings 

3.6 


$1M 


95.8% 


49 








CONDO 


10 

New Listings 

3 

Sold Listings 

2.3 


$700K 


93.6% 


124 


Napa 



750 

500 

250 

0 
















75 

50 

25 

0 
















Median 

Sales Price 

$1,250,000 

$1,000,000 


$750,000 


increased from $897k last year's 

August to $1m this year. 

$500,000 

$250,000 


The median sales price 

increased from $672k last 

August 2021 to $700k a year 

later. 

$0 














125 

100 

AVG Days 


75 


50 

25 

The average days on the market has 

decreased from 50 days of August 

2021 to 49 days this August 2022. 

0 















Huge difference is seen on the 

average days on the Market as the 

83 days from last year's becomes 

124 days only a year later. 

Overbids 

125% 

100% 



decreased from 100% record last 

year's August to 95.80% this year. 

75% 

50% 



decreased from 100% last 

year's August, to 93.60% this 

year. 

25% 

0% 














San 

Francisco 

What's in the San Francisco 

data? 

In San Francisco, the median sold price for single-family 

homes in August decreased month-over-month to $1.6 

million. The number of homes sold decreased to 183 and the 

number of new listings also decreased to 238. The number of 

condo and townhome sales decreased month-over-month to 

$1 million with 216 units sold and 266 new listings. Buyers 

are also still being aggressive with their offer prices, with the 

median offer price continuing to be about 100%. There is no 

doubt that higher interest rates have impacted demand for 

homes. But low inventory continues to be a factor as well. A 

balanced market is considered representative of 6 months’ 

supply of homes. When factoring in the number of completed 

homes, the month’s supply of homes available was really less 

than a month at 25 days. This ongoing imbalance of supply 

and demand should continue to be supportive of home 

prices.

SFH 


238 

New Listings 

183 

Sold Listings 

2.3 


$1.6M 


106.5% 


26 








CONDO 


266 

New Listings 

216 

Sold Listings 

2.8 


$1M 


98.4% 


51 





1,000 

750 

500 

250 

0 
















1,500 

1,000 

500 

0 
















Median 

Sales Price 

$2,500,000 

$2,000,000 


$1,500,000 


decreased from $1.8m in August 

2021 to $1.6m in August 2022. 

$1,000,000 

$500,000 




2021 and $1m in August 2022. 

$0 














75 

50 

AVG Days 



25 

The average days on market slightly 

increased from 25 days last August 

2021 to 26 days by August 2022. 

0 















The average days on market 

increased from 36 days in August 

2021 to 51 days this year. 

Overbids 

125% 

100% 


The overbid percentage decreased 

from 115.4% last August 2021 to 

106.5% a year later. 

75% 

50% 


The overbid percentage 


August 2021 to 98.4% a year 

later. 

25% 

0% 














San 

Mateo 

What's in the San Mateo data? 

In San Mateo, the median sold price for single-family 

homes in August 2022 was similar to last year at $1.8 

million. The number of homes sold decreased to 339 and 

the number of new listings also decreased to 406. The 

number of condo & townhomes sales decreased monthover-month 

to $899 thousand with 128 units sold and 144 

new listings. Buyers are also still being aggressive with 

their offer prices, with the median offer price continuing to 

be about 100%. There is no doubt that higher interest rates 

have impacted demand for homes. But low inventory 

continues to be a factor as well. A balanced market is 

considered representative of 6 months’ supply of homes. 

When factoring in the number of completed homes, the 

month’s supply of homes available was less than a month 

at 25 days. This ongoing imbalance of supply and demand 

should continue to be supportive of home prices.

SFH 


406 

New Listings 

339 

Sold Listings 

1.5 


$1.8M 


98.6% 


25 








CONDO 


114 

New Listings 

128 

Sold Listings 

1.8 


$899K 


99.4% 


34 


San Mateo 



1,250 

1,000 

750 

500 

250 

0 
















500 

400 

300 

200 

100 

0 
















Median 

Sales Price 

$2,500,000 

$2,000,000 


$1,500,000 

The median sales price stays at 

$1.850m for August 2021 and 


$1,000,000 

$500,000 



decreased from $984k in August 

2021 and $899k in August 2022. 

$0 














40 

30 

AVG Days 


20 

10 





0 


















Overbids 

125% 

100% 




August 2021 to 98.6% a year 

later. 



decreased from 103% last August 

2021 to 99.4% a year later. 

75% 

50% 

25% 

0% 














Santa 

Clara 

What's in the Santa Clara data? 

In Santa Clara, the median sold price for single-family 

homes in August slightly decreased month-over-month to 

$1.6 million. The number of homes sold decreased to 788 

and the number of new listings also decreased to 878. The 

number of condo and townhome sales decreased monthover-month 









month’s supply of homes available was really less than a 



SFH 


878 

New Listings 

788 

Sold Listings 

1.5 


$1.6M 


97.3% 


25 








CONDO 


370 

New Listings 

312 

Sold Listings 

1.4 


$900K 


98.8% 


25 


Santa Clara 



2,500 

2,000 

1,500 

1,000 

500 

0 
















1,500 

1,000 

500 

0 
















Median 

Sales Price 

$2,000,000 

$1,500,000 




2021 to $1.625m in August 2022. 

$1,000,000 

$500,000 



decreased from $915k in August 

2021 and $900k in August 2022. 

$0 














25 

20 

AVG Days 


15 


10 

5 




0 


















Overbids 

125% 

100% 





75% 

50% 





25% 

0% 














Solano 

What's in the Solano data? 

In Solano, the median sold price for single-family homes in 

August slightly decreased month-over-month to $600 

thousand. The number of homes sold decreased to 176 














SFH 


456 

New Listings 

176 

Sold Listings 

3.1 


$600K 


98.2% 


35 








CONDO 


35 

New Listings 

18 

Sold Listings 

2.4 


$380K 


99.10% 


35 


Solano 



1,500 

1,000 

500 

0 
















125 

100 

75 

50 

25 

0 
















Median 

Sales Price 

$750,000 

$500,000 


The median sales price has gone 

up from $575k last August 2021, 

to $600k by August 2022. 

$250,000 



slightly decreased from $405k 

in August 2021 to $380k by 


$0 














40 

30 

AVG Days 


20 

10 



increased from 25 days last year to 

35 days this year 

0 
















significantly increased from 18 days 

last year's August, to 35 days this 

year. 

Overbids 

125% 

100% 



decreased from 102.8% last year 

to 98.2% this year's August. 

75% 

50% 



slightly decreased from 102.7% 

last year to 99.10% this year's 

August. 

25% 

0% 














Sonoma 

What's in the Sonoma data? 

In Sonoma, the median sold price for single-family homes 

in August slightly decreased month-over-month to $830 

thousand. The number of homes sold decreased to 145 














SFH 


265 

New Listings 

145 

Sold Listings 

2.7 


$830K 


100% 


37 








CONDO 


73 

New Listings 

26 

Sold Listings 

2.1 


$487K 


102.9% 


27 


Sonoma 



2,500 

2,000 

1,500 

1,000 

500 

0 
















300 

200 

100 

0 
















Median 

Sales Price 

$1,000,000 

$750,000 


$500,000 


increased from $760k last year's 

August, to $830k this year. 

$250,000 



increased from $475k of 

August 2021 to $487k by 


$0 














60 

40 

AVG Days 



20 


increased from 36 days last year to 

37 days by August this year. 

0 
















significantly decreased from 36 

days last year to 27 days by August 

this year. 

Overbids 

125% 

100% 





75% 

50% 



slightly increased from 102.3% 

last year to 102.9% this year's 

August. 

25% 

0% 














Southern/Central 

Marin 

What's in the Marin data? 

In Marin, the median sold price for single-family homes in 

August slightly decreased month-over-month to $1.8 

million. The number of homes sold decreased to 86 and 

the number of new listings also decreased to 94. The 













SFH 


94 

New Listings 

86 

Sold Listings 

2.1 


$1.8M 


100% 


33 








CONDO 


46 

New Listings 

21 

Sold Listings 

3 


$880K 


100% 


34 


S/C Marin 



800 

600 

400 

200 

0 
















300 

200 

100 

0 
















Median 

Sales Price 

$2,500,000 

$2,000,000 

$1,500,000 



increased from $1.6m last 

August 2021, to $1.8m the 

following year. 



significantly increased from 

$775k last August 2021 to 

$880k on August 2022. 

$1,000,000 

$500,000 

$0 














75 

50 

AVG Days 



25 

The average days on market is 

down from 41 days last August 


0 















The average days on market last 

August 2021 is 41 days down to 34 

days on August 2022. 

Overbids 

125% 

100% 



slightly gone down from 102.7% 

last year's August, to 100% a 

year later. 

75% 

50% 



slightly gone down from 

100.1% last year's August, to 

100% this year. 

25% 

0% 














Christina Hood (& Greg

BHRE Market report for the San Francisco Bay area September 2022

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