How is the real estate market performing in February 2024? The KathyWangHomes team has selected five cities from the East Bay, Tri-Valley, South Bay, and Peninsula regions, namely Union City, Danville, San Jose, Morgan Hill, and San Carlos. We will provide detailed transaction data analysis from different zip code areas for you.

First, let's start with San Jose in the Silicon Valley. This city encompasses several zip code areas, and we've selected four areas to analyze: 95129, 95132, 95131, and 95124. We will analyze them one by one for you.

In the 95129 area of San Jose, in February 2024, a total of 10 single-family homes were sold. The median sale price was $2.2 million, with an average sale price to list price of 109%. Single-family homes in this area stayed on the market for an average of 12 days. There were no townhouse transactions in this area for the month.

In the 95132 area of San Jose, in February 2024, a total of 14 single-family homes were sold. The median sale price was $1.65 million, with an average sale price to list price of 108%. Single-family homes in this area stayed on the market for an average of 14 days. Additionally, there were 2 townhouse sold in this area, with a home price of $0.84 million, and an average sale price to list price of 112%. Townhouses in this area stayed on the market for an average of 7 days.

In the 95131 area of San Jose, in February 2024, a total of 2 single-family homes were sold. The median sale price was $1.88 million, with an average sale price to list price of 108%. Single-family homes in this area stayed on the market for an average of 3 days. Additionally, there were 7 townhouse sold in this area, with a home price of $1.1 million, and a sale price to list price of 112%. Townhouses in this area stayed on the market for an average of 8 days.

In the 95124 area of San Jose, in February 2024, a total of 26 single-family homes were sold. The median sale price was $1.95 million, with an average sale price to list price of 107%. Single-family homes in this area stayed on the market for an average of 8 days. There were no townhouse transactions in this area for the month.

  

 

Now, let's take a look at the transaction trends in the East Bay city of Union City (94587), tri-valley city of Danville (94506, 94526) , south bay city of Morgan Hill (95037) , and the Peninsula city of San Carlos (94070) in January 2024.

In Union City (94587) in February 2024, there were a total of 19 single-family home transactions. The median home price was $1.43million, with an average sale price to list price ratio of 107%. Single-family homes in this area stayed on the market for an average of 15 days. Additionally, there were 3 townhouse transactions in this area, with a median home price of $0.82 million, and an average sale price to list price ratio of 106%. Townhouses in this area stayed on the market for an average of 27 days.

In the 94506 area of Danville, in February 2024, there were a total of 10 single-family home transactions. The median home price was $2.2 million, with an average sale price to list price ratio of 102%. Single-family homes in this area stayed on the market for an average of 17 days. Additionally, there were 3 townhouse transactions in this area, with a median home price of $1.32 million, and an average sale price to list price ratio of 104%. Townhouses in this area stayed on the market for an average of 5 days.

In the 94526 area of Danville, in February 2024, there were a total of 12 single-family home transactions. The median home price was $1.76 million, with an average sale price to list price ratio of 101%. Single-family homes in this area stayed on the market for an average of 32 days. Additionally, there were 2 townhouse transactions in this area, with a median home price of $1.1 million, and an average sale price to list price ratio of 98%. Townhouses in this area stayed on the market for an average of 0 days.

 

In San Carlos in February 2024, there were a total of 10 single-family home transactions. The median home price was $2.5 million, with an average sale price to list price ratio of 105%. Single-family homes in this area stayed on the market for an average of 15 days. Additionally, there were 3 townhouse transactions in this area, with a median home price of $2 million, and an average sale price to list price ratio of 99%. Townhouses in this area stayed on the market for an average of 17 days.

In Morgan Hill (95037) in February 2024, there were a total of 18 single-family home transactions. The median home price was $1.38million, with an average sale price to list price ratio of 103%. Single-family homes in this area stayed on the market for an average of 28 days. Additionally, there were 2 townhouse transactions in this area, with a median home price of $1 million, and an average sale price to list price ratio of 105%. Townhouses in this area stayed on the market for an average of 10 days.

The above analysis provides a detailed overview of the real estate market trends in several cities in the Silicon Valley region for February 2024, as analyzed by the KathyWangHomes team. If you would like to learn more about the real estate market in additional cities or areas in the San Francisco Bay Area, please feel free to contact us.