Bay Area housing market, May 2024
By Sean Rossiter. Redfin data for March to May 2024
From March to May 2024, the single-family median sale price rose from a year earlier in 21 of 23 cities and fell in 2. 3,878 homes sold across all 23 cities, and 74.3% sold above list price. Medians ran from $1,050,000 in East Palo Alto to $7,900,000 in Atherton.
Biggest price changes
Single-family median, compared with a year earlier. Cities with at least 20 sales.
Up the most
- San Mateo: up 26.5% to $2,201,500
- Santa Clara: up 24.9% to $2,100,000
- Los Gatos: up 22.9% to $3,225,000
Down the most
- Atherton: down 19.0% to $7,900,000
- Foster City: down 0.5% to $2,392,500
- Menlo Park: up 0.4% to $3,412,500
How fast homes sold
Median days on market for single-family homes. Cities with at least 20 sales.
Fastest
- Foster City: 8 days
- Belmont: 8 days
- San Carlos: 8 days
Slowest
- Atherton: 19 days
- East Palo Alto: 13 days
- Menlo Park: 12 days
All 23 cities
March to May 2024. 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 | $1,050,000 | +18.6% | -0.9% | 13 | 75.0% | $547,500 |
| San Jose | $1,750,000 | +15.7% | +2.9% | 9 | 77.3% | $750,000 |
| Redwood City | $2,100,000 | +5.8% | +2.4% | 9 | 68.6% | $1,030,000 |
| Santa Clara | $2,100,000 | +24.9% | +6.3% | 8 | 81.3% | $800,000 |
| Campbell | $2,125,500 | +7.3% | +2.3% | 8 | 76.2% | $660,000 |
| San Mateo | $2,201,500 | +26.5% | +13.1% | 10 | 65.8% | $805,000 |
| Foster City | $2,392,500 | -0.5% | +4.0% | 8 | 75.4% | $1,100,000 |
| Redwood Shores | $2,447,500 | +0.3% | +5.0% | 7 | 75.0% | $1,200,000 |
| San Carlos | $2,460,000 | +11.8% | +1.7% | 8 | 70.6% | $1,030,000 |
| Belmont | $2,500,000 | +6.6% | +0.0% | 8 | 72.3% | $906,000 |
| Sunnyvale | $2,600,000 | +12.3% | +4.5% | 8 | 83.0% | $862,500 |
| Mountain View | $2,715,000 | +3.2% | +4.2% | 9 | 73.3% | $785,000 |
| Los Gatos | $3,225,000 | +22.9% | +0.0% | 10 | 65.1% | $785,000 |
| Cupertino | $3,410,000 | +21.8% | -0.1% | 8 | 78.7% | $1,270,000 |
| Menlo Park | $3,412,500 | +0.4% | +11.9% | 12 | 56.2% | $1,487,500 |
| Palo Alto | $3,600,000 | +8.2% | +0.0% | 9 | 68.4% | $1,252,500 |
| Portola Valley | $4,147,750 | +9.2% | +1.2% | 10 | 57.1% | n/a |
| Saratoga | $4,150,000 | +8.9% | -1.2% | 9 | 78.0% | $1,150,000 |
| Los Altos | $4,192,000 | +4.0% | +0.3% | 11 | 59.1% | $2,575,000 |
| Woodside | $5,747,500 | +19.7% | +8.4% | 17 | 27.8% | n/a |
| Monte Sereno | $5,750,000 | +91.7% | +23.1% | 9 | 63.6% | n/a |
| Los Altos Hills | $6,050,000 | +20.6% | +7.7% | 16 | 57.1% | n/a |
| Atherton | $7,900,000 | -19.0% | +22.0% | 19 | 43.5% | n/a |
Source: Redfin Data Center, rolling three-month figures for March to May 2024. "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 2024, 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: San Mateo (up 26.5%), Santa Clara (up 24.9%), Los Gatos (up 22.9%), compared with a year earlier.
Where do homes sell the fastest?
Foster City (8 days), Belmont (8 days), San Carlos (8 days), by median days on market for single-family homes from March to May 2024.