Bay Area housing market, December 2022
By Sean Rossiter. Redfin data for October to December 2022
From October to December 2022, the single-family median sale price rose from a year earlier in 4 of 23 cities and fell in 19. 2,664 homes sold across all 23 cities, and 35.0% sold above list price. Medians ran from $987,500 in East Palo Alto to $8,220,000 in Atherton.
Biggest price changes
Single-family median, compared with a year earlier. Cities with at least 20 sales.
Up the most
- Mountain View: up 4.0% to $2,600,000
- Campbell: down 4.1% to $1,715,000
- Menlo Park: down 4.2% to $2,885,000
Down the most
- Belmont: down 25.1% to $1,855,000
- San Carlos: down 15.7% to $2,194,500
- Los Altos: down 11.5% to $3,940,000
All 23 cities
October to December 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 | $987,500 | -3.2% | +14.8% | 56 | 13.3% | $405,000 |
| San Jose | $1,388,000 | -4.3% | -1.6% | 25 | 34.1% | $672,500 |
| Santa Clara | $1,587,500 | -6.2% | -3.8% | 11 | 49.2% | $680,000 |
| San Mateo | $1,710,000 | -5.0% | +0.6% | 20 | 35.4% | $800,000 |
| Campbell | $1,715,000 | -4.1% | -0.9% | 19 | 40.8% | $652,500 |
| Belmont | $1,855,000 | -25.1% | -5.6% | 29 | 34.2% | $1,017,500 |
| Foster City | $1,875,000 | -16.7% | -18.1% | 21 | 20.6% | $950,000 |
| Redwood City | $1,902,000 | -4.9% | +0.6% | 24 | 33.1% | $842,000 |
| San Carlos | $2,194,500 | -15.7% | -5.6% | 26 | 29.9% | $965,000 |
| Sunnyvale | $2,200,000 | -4.3% | -0.3% | 11 | 43.6% | $900,000 |
| Redwood Shores | $2,312,500 | -19.3% | +0.6% | 23 | 35.7% | $845,000 |
| Mountain View | $2,600,000 | +4.0% | +12.3% | 16 | 37.8% | $860,000 |
| Cupertino | $2,612,000 | -9.9% | -3.3% | 10 | 44.8% | $937,000 |
| Los Gatos | $2,622,500 | -8.0% | +0.9% | 28 | 26.1% | $669,000 |
| Menlo Park | $2,885,000 | -4.2% | +6.9% | 18 | 28.8% | $1,150,000 |
| Palo Alto | $3,300,000 | -10.8% | -0.1% | 13 | 35.6% | $1,059,000 |
| Saratoga | $3,450,000 | -7.3% | -5.1% | 49 | 24.3% | $1,059,000 |
| Monte Sereno | $3,574,000 | -22.5% | -0.7% | 30 | 33.3% | n/a |
| Los Altos | $3,940,000 | -11.5% | -1.5% | 14 | 32.1% | $1,425,000 |
| Portola Valley | $4,600,000 | -12.6% | +0.0% | 20 | 18.2% | n/a |
| Los Altos Hills | $5,250,000 | +5.5% | -16.6% | 18 | 21.4% | n/a |
| Woodside | $5,500,000 | +38.4% | +2.8% | 19 | 25.0% | n/a |
| Atherton | $8,220,000 | +3.1% | -2.1% | 51 | 30.8% | n/a |
Source: Redfin Data Center, rolling three-month figures for October to December 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 October to December 2022, the single-family median sale price rose from a year earlier in 4 of 23 cities and fell in 19.
Where did prices rise the most?
Among cities with at least 20 single-family sales: Mountain View (up 4.0%), Campbell (down 4.1%), Menlo Park (down 4.2%), compared with a year earlier.
Where do homes sell the fastest?
Cupertino (10 days), Sunnyvale (11 days), Santa Clara (11 days), by median days on market for single-family homes from October to December 2022.