June Market Update: Bay Area

Key Takeaways for the Month

Competition has remained strong in the Bay Area real estate market. While COVID-19 caused a drop in demand from buyers, it caused a steeper drop in the number of listings while sellers waited to see what would happen with the pandemic. 

  • At the start of the year, competition was similar to 2019, then fell with the start of COVID, and in June started to again look similar to last year.
  • While Bay Area single family homes and townhomes are selling similarly to last June, condos are slower to rebound post-COVID. It may be a great time to look for a condo. 
  • List prices have been above last year’s trend, but sale-to-list price ratio has dropped. These two data points combined show that buyers are getting homes at a fair value, not overpaying .

Competition snapshot

Our Research Team looked into sales in the hottest zip codes in the South Bay for a snapshot of competitiveness in the local market.

The researched homes are a sample of the resale market for single-family houses and townhomes, excluding new construction, listed for $1,200,000 – $1,800,000 in select zip codes in Santa Clara, Sunnyvale, and Mountain View.

Sale Price

Based on date the property sold.

List Price

Based on date the property was listed.

Sale Price Compared to List Price

Based on date the property sold.

Days on Market

Based on the number of days between the list date and the date the property went pending, except when sold date is earlier than pending (then based on date sold).

Number of Properties Listed

Based on date the property was listed.

Number of Properties Pending Sale

Based on the date the property went pending, except when sold date is earlier than pending (then based on date sold).

Number of Properties Sold

Based on date the property sold.


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