Bay Area housing market, October 2022
By Sean Rossiter. Redfin data for August to October 2022
From August to October 2022, the single-family median sale price rose from a year earlier in 5 of 23 cities and fell in 17. 3,575 homes sold across all 23 cities, and 41.3% sold above list price. Medians ran from $970,000 in East Palo Alto to $6,800,000 in Atherton.
Biggest price changes
Single-family median, compared with a year earlier. Cities with at least 20 sales.
Up the most
- Redwood City: up 3.2% to $2,005,000
- Saratoga: up 2.7% to $3,750,000
- Santa Clara: up 0.9% to $1,620,000
Down the most
- Menlo Park: down 21.6% to $2,650,000
- San Carlos: down 7.7% to $2,262,500
- Los Altos: down 7.4% to $3,890,000
How fast homes sold
Median days on market for single-family homes. Cities with at least 20 sales.
Fastest
- Mountain View: 12 days
- Redwood City: 13 days
- Palo Alto: 14 days
Slowest
- San Jose: 27 days
- Saratoga: 27 days
- Menlo Park: 26 days
All 23 cities
August to October 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 | $970,000 | -11.7% | +0.0% | 41 | 47.8% | $590,000 |
| San Jose | $1,412,500 | -1.2% | -0.9% | 27 | 39.7% | $694,000 |
| Santa Clara | $1,620,000 | +0.9% | -1.8% | 15 | 47.3% | $735,000 |
| Campbell | $1,700,000 | +0.9% | -0.7% | 15 | 47.9% | $890,000 |
| San Mateo | $1,780,000 | +0.0% | +0.3% | 18 | 41.4% | $740,000 |
| Redwood City | $2,005,000 | +3.2% | -2.9% | 13 | 50.0% | $900,000 |
| Sunnyvale | $2,145,000 | -4.8% | -0.2% | 17 | 44.2% | $900,000 |
| Belmont | $2,150,000 | -4.4% | -7.4% | 20 | 40.0% | $974,000 |
| Foster City | $2,160,000 | -0.7% | -3.1% | 18 | 53.3% | $1,100,000 |
| San Carlos | $2,262,500 | -7.7% | -2.7% | 22 | 36.8% | $949,000 |
| Redwood Shores | $2,419,000 | -8.0% | +0.0% | 6 | 44.1% | $863,500 |
| Mountain View | $2,550,000 | -1.9% | +3.7% | 12 | 48.8% | $890,000 |
| Los Gatos | $2,590,000 | -0.4% | +0.0% | 23 | 35.5% | $765,000 |
| Menlo Park | $2,650,000 | -21.6% | +1.9% | 26 | 31.9% | $1,303,000 |
| Cupertino | $2,700,000 | -3.9% | -1.1% | 16 | 42.7% | $1,050,000 |
| Palo Alto | $3,368,500 | -6.4% | +1.5% | 14 | 48.6% | $1,387,500 |
| Monte Sereno | $3,590,000 | -4.9% | -1.4% | 29 | 42.9% | n/a |
| Saratoga | $3,750,000 | +2.7% | -0.4% | 27 | 28.8% | $1,100,500 |
| Los Altos | $3,890,000 | -7.4% | +0.7% | 16 | 34.2% | $1,650,000 |
| Portola Valley | $4,200,000 | -2.9% | +20.0% | 20 | 23.1% | n/a |
| Los Altos Hills | $4,400,000 | -21.6% | +0.2% | 40 | 15.4% | n/a |
| Woodside | $5,325,000 | +26.8% | -0.2% | 41 | 20.0% | n/a |
| Atherton | $6,800,000 | -28.4% | -2.9% | 23 | 36.8% | n/a |
Source: Redfin Data Center, rolling three-month figures for August to October 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, no. From August to October 2022, the single-family median sale price rose from a year earlier in 5 of 23 cities and fell in 17.
Where did prices rise the most?
Among cities with at least 20 single-family sales: Redwood City (up 3.2%), Saratoga (up 2.7%), Santa Clara (up 0.9%), compared with a year earlier.
Where do homes sell the fastest?
Mountain View (12 days), Redwood City (13 days), Palo Alto (14 days), by median days on market for single-family homes from August to October 2022.