Following two years of extraordinary growth, we have returned to a more 'normal' real estate market.

While transaction volume is down from the previous two-year peak, with an overall reduction in home sales of 31% compared to 2021, home values on the Peninsula are holding up nicely.  Year over year, the average sales price saw a 14% increase from 2021 while the median sales price increased 4%. In this regard, once again, our market is greatly outperforming most markets across the country.

Please read on for a more detailed look.