Month-over-Month Changes

In November 2023, the Woodside real estate market experienced the following changes compared to October 2023:

  • Homes Sold: There was a significant decrease, with only 1 home sold in November compared to previous months.
  • Median Sale Price: There was a decrease in the median sale price, from $2,550,000 in October 2023 to $2,325,000 in November 2023, marking a 9% drop.
  • Days on Market (DOM): The DOM decreased to 23 days in November from 30 days in October 2023.
  • Percentage of List Price Received: Sellers received 97% of their asking price in November, a slight decrease from 99% in October 2023.

Analysis

The month-over-month data indicates a cooling in the Woodside real estate market. The significant decrease in homes sold and the drop in median sale price suggest a potential shift in market dynamics. However, the decrease in DOM indicates that properties that do sell are moving relatively quickly.

Year-over-Year Comparison

Comparing November 2023 to November 2022, the following changes were observed:

  • Homes Sold: There was an 86% decrease in homes sold, from 7 in November 2022 to 1 in November 2023.
  • Median Sale Price: The median sale price decreased from $5.35M in November 2022 to $2.32M in November 2023.
  • Days on Market: Increased to 23 days in November 2023 from 13 days in November 2022.
  • Percentage of List Price Received: Dropped slightly from 100% in November 2022 to 97% in November 2023.
  • Months of Inventory: Increased significantly from 4.4 in November 2022 to 7.4 in November 2023.
  • Average Dollar per Sq. Ft.: Decreased from $1,481 in November 2022 to $884 in November 2023.

Analysis

Year-over-year, the Woodside market has experienced a notable decrease in the number of homes sold and a significant drop in the median sale price. The increase in DOM and the decrease in the percentage of list price received indicate a shift towards a buyer’s market.

Price Points and Quadrants

The sales details for November 2023 in Woodside were as follows:

  • Top Quadrant: No data available for homes sold in the top quadrant.
  • Second Quadrant: No data available for homes sold in the second quadrant.
  • Third Quadrant: No data available for homes sold in the third quadrant.
  • Bottom Quadrant: No data available for homes sold in the bottom quadrant.

Analysis

Due to the limited number of sales in November 2023, a detailed breakdown by quadrants is not available. This lack of data itself is indicative of the current market conditions in Woodside.

Conclusion

The Woodside market in November 2023 showed a significant decrease in homes sold and a decrease in median sale price compared to the previous year. The market dynamics indicate a potential shift towards a buyer’s market, with properties staying longer on the market and selling for less than the listed price. This trend is crucial for both buyers and sellers to consider in their real estate strategies.

Data provided by MLS Listings and is deemed reliable but not guaranteed.