Bay Area housing market, August 2022
By Sean Rossiter. Redfin data for June to August 2022
From June to August 2022, the single-family median sale price rose from a year earlier in 15 of 23 cities and fell in 8. 3,765 homes sold across all 23 cities, and 55.3% sold above list price. Medians ran from $1,089,000 in East Palo Alto to $7,000,000 in Atherton.
Biggest price changes
Single-family median, compared with a year earlier. Cities with at least 20 sales.
Up the most
- East Palo Alto: up 6.2% to $1,089,000
- Santa Clara: up 6.1% to $1,750,000
- San Mateo: up 6.0% to $1,960,000
Down the most
- San Carlos: down 7.0% to $2,325,000
- Palo Alto: down 4.0% to $3,412,000
- Los Altos: down 3.6% to $4,000,000
How fast homes sold
Median days on market for single-family homes. Cities with at least 20 sales.
Fastest
- Los Altos: 10 days
- Foster City: 12 days
- Redwood City: 12 days
Slowest
- Saratoga: 25 days
- East Palo Alto: 24 days
- San Jose: 18 days
All 23 cities
June to August 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 | $1,089,000 | +6.2% | -12.0% | 24 | 57.7% | $800,000 |
| San Jose | $1,490,000 | +2.8% | -6.9% | 18 | 54.9% | $709,000 |
| Santa Clara | $1,750,000 | +6.1% | -3.2% | 14 | 59.5% | $750,000 |
| Campbell | $1,752,500 | +0.1% | -16.5% | 16 | 61.7% | $751,300 |
| San Mateo | $1,960,000 | +6.0% | -2.9% | 13 | 52.9% | $745,000 |
| Redwood City | $2,084,000 | +2.5% | -3.5% | 12 | 66.7% | $911,500 |
| Foster City | $2,270,000 | +0.8% | -4.0% | 12 | 63.5% | $1,017,500 |
| Sunnyvale | $2,315,000 | +5.2% | -5.5% | 14 | 60.3% | $885,250 |
| Belmont | $2,325,000 | +1.1% | -7.6% | 13 | 53.7% | $584,500 |
| San Carlos | $2,325,000 | -7.0% | -11.6% | 13 | 54.1% | $957,500 |
| Redwood Shores | $2,400,000 | +6.0% | -11.9% | 8 | 62.1% | $1,040,000 |
| Mountain View | $2,500,000 | -3.5% | +1.9% | 15 | 57.8% | $770,000 |
| Cupertino | $2,800,000 | -1.8% | -8.8% | 16 | 46.5% | $1,188,000 |
| Menlo Park | $2,825,000 | -0.5% | -19.3% | 14 | 47.9% | $1,312,500 |
| Los Gatos | $2,870,000 | +4.4% | -13.0% | 18 | 44.7% | $1,005,000 |
| Palo Alto | $3,412,000 | -4.0% | -6.1% | 12 | 54.2% | $1,200,000 |
| Portola Valley | $3,550,000 | -4.7% | -24.5% | 36 | 12.5% | n/a |
| Saratoga | $3,750,000 | +5.3% | -6.0% | 25 | 44.1% | $1,028,000 |
| Monte Sereno | $3,915,000 | +4.4% | -11.0% | 28 | 57.1% | n/a |
| Los Altos | $4,000,000 | -3.6% | -5.9% | 10 | 59.1% | $1,315,000 |
| Los Altos Hills | $5,500,000 | +3.8% | -8.3% | 15 | 26.1% | n/a |
| Woodside | $5,700,000 | +26.7% | +0.9% | 24 | 35.3% | n/a |
| Atherton | $7,000,000 | -3.5% | -7.4% | 13 | 41.2% | n/a |
Source: Redfin Data Center, rolling three-month figures for June to August 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 June to August 2022, the single-family median sale price rose from a year earlier in 15 of 23 cities and fell in 8.
Where did prices rise the most?
Among cities with at least 20 single-family sales: East Palo Alto (up 6.2%), Santa Clara (up 6.1%), San Mateo (up 6.0%), compared with a year earlier.
Where do homes sell the fastest?
Los Altos (10 days), Foster City (12 days), Redwood City (12 days), by median days on market for single-family homes from June to August 2022.