A Tale of Two Markets

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October was a month of polar opposites for home and condo sales in San Mateo County. While home sales bumped up 1% from one year ago, sales prices increased 8%, and homes are spending less time on the market.

Meanwhile, condo sales dropped 14% from 2022, prices fell 8% YOY, and properties are sitting on the market for two weeks longer than last year at this time.

Cookies & Clients

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Thanks to everyone who joined us at the 47th Annual Los Altos Festival of Lights parade. We were overjoyed to see many friends and clients stop by a reception at the Los Altos Compass office to share the warm and cozy holiday spirit over drinks, tea, and of course, cookies!

CHIC (Pearl)

I love entertaining. That’s why it’s been so invigorating to get back to live events and interact face-to-face with friends, family, clients, and neighbors. But we also know illness lurks around every corner, so this is a friendly reminder to get your flu shot and COVID vaccine!

GEEK (Kevin)

In case you missed this year’s parade, you can save the date for the next one on December 1, 2024. No one knows what the next year will bring, but if it’s anything like recent history, it’s sure to be exciting and unpredictable. So hold onto your hats and buckle up for a wild ride!

Buyers in Brief

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Last week, we shared a snapshot of sellers on the market in 2023 from the California Association of Realtors. Now it’s time to take a look at buyers braving the waters.

Contrary to what you might guess, it’s the Millennial Generation in the driver's seat on the buyer bandwagon, with nearly half the buyers coming from that age bracket. All told, it’s also an experienced cohort. Buyers have a median age of 45, nearly two in three are married, and 64% are repeat buyers.

See the infographic below for more numbers.