Bright Homes Real Estate | July 2023 Market Report Palo Alto Area
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Median<br />
Sales Price<br />
$2,000,000<br />
Single-Family <strong>Homes</strong><br />
$1,500,000<br />
The median sales price has<br />
increased from $1.5m last<br />
June 2022, to $1.6m as of<br />
June <strong>2023</strong>.<br />
$1,000,000<br />
Condos & Townhomes<br />
The median sales price has<br />
increased from $845k last<br />
June 2022, to $865k as of<br />
June <strong>2023</strong>.<br />
$500,000<br />
$0<br />
Jun 2022<br />
Jul 2022<br />
Aug 2022<br />
Sep 2022<br />
Oct 2022<br />
Nov 2022<br />
Dec 2022<br />
Jan <strong>2023</strong><br />
Feb <strong>2023</strong><br />
Mar <strong>2023</strong><br />
Apr <strong>2023</strong><br />
May <strong>2023</strong><br />
Jun <strong>2023</strong><br />
50<br />
AVG Days<br />
On the <strong>Market</strong><br />
40<br />
Single-Family <strong>Homes</strong><br />
30<br />
20<br />
The average time spent on<br />
the market has remained at<br />
20 days since last June.<br />
10<br />
0<br />
Jun 2022<br />
Jul 2022<br />
Aug 2022<br />
Sep 2022<br />
Oct 2022<br />
Nov 2022<br />
Dec 2022<br />
Jan <strong>2023</strong><br />
Feb <strong>2023</strong><br />
Mar <strong>2023</strong><br />
Apr <strong>2023</strong><br />
May <strong>2023</strong><br />
Jun <strong>2023</strong><br />
Condos & Townhomes<br />
The average time spent on<br />
the market remained at 19<br />
days since last June.<br />
Overbids<br />
125%<br />
Single-Family <strong>Homes</strong><br />
100%<br />
The overbid percentage has<br />
decreased from 104.6% last<br />
June 2022, to 104.5% a year<br />
later.<br />
75%<br />
50%<br />
Condos & Townhomes<br />
The overbid percentage has<br />
decreased from 105.2% last<br />
June 2022, to 103.5% a year<br />
later.<br />
25%<br />
0%<br />
Jun 2022<br />
Jul 2022<br />
Aug 2022<br />
Sep 2022<br />
Oct 2022<br />
Nov 2022<br />
Dec 2022<br />
Jan <strong>2023</strong><br />
Feb <strong>2023</strong><br />
Mar <strong>2023</strong><br />
Apr <strong>2023</strong><br />
May <strong>2023</strong><br />
Jun <strong>2023</strong><br />
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