Bay Area housing market, January 2023
By Sean Rossiter. Redfin data for November to January 2023
From November to January 2023, the single-family median sale price rose from a year earlier in 4 of 23 cities and fell in 19. 2,128 homes sold across all 23 cities, and 31.7% sold above list price. Medians ran from $865,000 in East Palo Alto to $10,000,000 in Atherton.
Biggest price changes
Single-family median, compared with a year earlier. Cities with at least 20 sales.
Up the most
- Los Gatos: up 1.4% to $2,762,500
- San Mateo: down 4.4% to $1,660,000
- Redwood City: down 4.7% to $1,940,000
Down the most
- Belmont: down 29.2% to $1,787,500
- San Carlos: down 18.3% to $2,157,500
- Menlo Park: down 18.0% to $2,460,000
All 23 cities
November to January 2023. 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 | $865,000 | -10.8% | -12.4% | 67 | 10.0% | $432,500 |
| San Jose | $1,350,000 | -8.2% | -2.7% | 25 | 32.7% | $666,500 |
| Santa Clara | $1,570,000 | -13.3% | -1.1% | 15 | 43.3% | $664,500 |
| San Mateo | $1,660,000 | -4.4% | -2.9% | 25 | 29.3% | $712,500 |
| Campbell | $1,700,000 | -5.6% | -0.9% | 23 | 32.2% | $567,500 |
| Belmont | $1,787,500 | -29.2% | -3.6% | 31 | 28.1% | $557,000 |
| Foster City | $1,860,000 | -19.5% | -0.8% | 18 | 22.6% | $947,500 |
| Redwood City | $1,940,000 | -4.7% | +2.0% | 27 | 27.2% | $828,750 |
| Sunnyvale | $2,140,000 | -9.9% | -2.7% | 12 | 38.4% | $905,000 |
| San Carlos | $2,157,500 | -18.3% | -1.7% | 30 | 32.3% | $965,000 |
| Mountain View | $2,348,000 | -10.4% | -9.7% | 25 | 30.2% | $730,000 |
| Redwood Shores | $2,455,000 | -18.2% | +6.2% | 35 | 30.0% | $767,500 |
| Menlo Park | $2,460,000 | -18.0% | -14.7% | 22 | 28.6% | $902,000 |
| Cupertino | $2,540,000 | -14.7% | -2.8% | 9 | 42.9% | $890,000 |
| Los Gatos | $2,762,500 | +1.4% | +5.3% | 50 | 25.0% | $680,000 |
| Palo Alto | $3,180,000 | -16.8% | -3.6% | 26 | 22.9% | $1,048,000 |
| Monte Sereno | $3,250,000 | -33.6% | -9.1% | 62 | 16.7% | n/a |
| Saratoga | $3,500,000 | -9.1% | +1.4% | 38 | 24.1% | $1,035,000 |
| Los Altos | $3,912,500 | -12.6% | -0.7% | 20 | 24.4% | $1,200,000 |
| Los Altos Hills | $4,950,000 | +2.6% | -5.7% | 18 | 20.0% | n/a |
| Woodside | $5,425,000 | +44.7% | -1.4% | 46 | 18.2% | n/a |
| Portola Valley | $5,465,000 | -10.4% | +18.8% | 28 | 25.0% | n/a |
| Atherton | $10,000,000 | +29.0% | +21.7% | 50 | 11.1% | n/a |
Source: Redfin Data Center, rolling three-month figures for November to January 2023. "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 November to January 2023, 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: Los Gatos (up 1.4%), San Mateo (down 4.4%), Redwood City (down 4.7%), compared with a year earlier.
Where do homes sell the fastest?
Cupertino (9 days), Sunnyvale (12 days), Santa Clara (15 days), by median days on market for single-family homes from November to January 2023.