Bay Area housing market, May 2022
By Sean Rossiter. Redfin data for March to May 2022
From March to May 2022, the single-family median sale price rose from a year earlier in 21 of 23 cities and fell in 2. 5,071 homes sold across all 23 cities, and 86.8% sold above list price. Medians ran from $1,085,000 in East Palo Alto to $8,750,000 in Portola Valley.
Biggest price changes
Single-family median, compared with a year earlier. Cities with at least 20 sales.
Up the most
- Belmont: up 32.9% to $2,790,000
- San Carlos: up 30.9% to $3,075,000
- Los Gatos: up 27.1% to $3,400,000
Down the most
- Atherton: down 7.7% to $7,550,000
- East Palo Alto: up 5.5% to $1,085,000
- Redwood Shores: up 8.3% to $2,555,000
How fast homes sold
Median days on market for single-family homes. Cities with at least 20 sales.
Fastest
- San Mateo: 8 days
- San Carlos: 8 days
- Los Altos: 8 days
Slowest
- East Palo Alto: 18 days
- Los Altos Hills: 10 days
- Atherton: 10 days
All 23 cities
March to May 2022. Sorted by single-family median.
| City | Single-family median | vs. a year earlier | vs. last month | Days on market | Sold above list | Condo median |
|---|---|---|---|---|---|---|
| East Palo Alto | $1,085,000 | +5.5% | +0.9% | 18 | 79.2% | $774,000 |
| San Jose | $1,728,000 | +21.7% | +0.2% | 8 | 88.9% | $750,000 |
| Santa Clara | $1,919,000 | +17.7% | -0.1% | 8 | 89.6% | $800,000 |
| San Mateo | $2,100,000 | +20.0% | -4.5% | 8 | 78.3% | $908,000 |
| Campbell | $2,155,000 | +24.8% | -0.2% | 9 | 89.5% | $1,005,000 |
| Redwood City | $2,425,000 | +18.6% | +0.0% | 9 | 86.2% | $970,000 |
| Foster City | $2,475,000 | +12.5% | -6.8% | 9 | 92.1% | $1,015,000 |
| Redwood Shores | $2,555,000 | +8.3% | +1.4% | 9 | 83.9% | $988,000 |
| Sunnyvale | $2,598,500 | +23.7% | +0.7% | 8 | 88.5% | $971,000 |
| Belmont | $2,790,000 | +32.9% | +7.3% | 9 | 95.7% | $915,000 |
| Mountain View | $2,817,500 | +17.7% | +0.1% | 9 | 88.9% | $965,000 |
| San Carlos | $3,075,000 | +30.9% | +2.5% | 8 | 87.9% | $1,118,000 |
| Cupertino | $3,229,000 | +19.1% | -2.4% | 9 | 88.9% | $1,136,000 |
| Menlo Park | $3,325,000 | +10.8% | +5.5% | 9 | 70.2% | $1,430,000 |
| Los Gatos | $3,400,000 | +27.1% | +3.8% | 8 | 85.2% | $747,500 |
| Palo Alto | $4,011,500 | +16.9% | -2.2% | 9 | 77.0% | $1,550,000 |
| Saratoga | $4,025,000 | +15.0% | +3.1% | 8 | 91.3% | $930,000 |
| Monte Sereno | $4,250,000 | +11.8% | +0.0% | 10 | 88.2% | $2,270,000 |
| Los Altos | $4,425,000 | +14.9% | -1.7% | 8 | 86.1% | $1,285,000 |
| Woodside | $4,975,000 | -4.3% | +19.7% | 14 | 55.6% | n/a |
| Los Altos Hills | $5,630,000 | +8.3% | -2.6% | 10 | 77.8% | n/a |
| Atherton | $7,550,000 | -7.7% | +0.7% | 10 | 55.6% | n/a |
| Portola Valley | $8,750,000 | +123.6% | +0.0% | 10 | 54.5% | n/a |
Source: Redfin Data Center, rolling three-month figures for March to May 2022. "vs. last month" compares with the three months ending one month earlier. Sold above list covers all home types. Small cities have few sales, so their numbers swing more. Redwood Shores uses ZIP code 94065. Deemed reliable but not guaranteed.
FAQs
Are Bay Area home prices going up?
In most cities, yes. From March to May 2022, the single-family median sale price rose from a year earlier in 21 of 23 cities and fell in 2.
Where did prices rise the most?
Among cities with at least 20 single-family sales: Belmont (up 32.9%), San Carlos (up 30.9%), Los Gatos (up 27.1%), compared with a year earlier.
Where do homes sell the fastest?
San Mateo (8 days), San Carlos (8 days), Los Altos (8 days), by median days on market for single-family homes from March to May 2022.