Month-over-Month Changes

The Woodside real estate market experienced some changes in July 2023 compared to June 2023. Here’s a summary:

  • Homes Sold: 5 homes were sold, a 17% decrease from 6 sales the previous month.
  • Median Sale Price: There was a 50% increase, from $4,341,225 in June to $6,500,000 in July.
  • Days on Market (DOM): The DOM rose to 93 from 37 in June.
  • Percentage of List Price Received: Sellers received 92% of their asking price, a decrease from 97% in June.

These changes suggest a market with fewer sales but significantly higher prices.

Year-over-Year Comparison

Comparing July 2023 to July 2022, the following year-over-year changes were noted:

  • Homes Sold: Decreased by 17%, from 6 to 5.
  • Homes Listed: Increased by 43%, from 7 to 10.
  • Median Sale Price: Increased by 9%, from $5.95M to $6.50M.
  • Average Dollar per Square Foot: Increased by 2%, from $1757 to $1794.
  • Median Days on Market: Increased by 389%, from 19 to 93.
  • Months of Inventory: No change, remaining at 4.1.

These statistics indicate a market with fewer sales but higher prices and longer selling times compared to the previous year.

Price Points and Quadrants

The July 2023 sales details were broken down by quadrants:

  • Top Quadrant: 2 homes sold, Median Sale Price: $13,125,000, Median DOM: 98, Avg. $/Sq.Ft.: $2,563.
  • Second Quadrant: 1 home sold, Median Sale Price: $6,500,000, Median DOM: 95, Avg. $/Sq.Ft.: $1,213.
  • Third Quadrant: 1 home sold, Median Sale Price: $4,975,000, Median DOM: 23, Avg. $/Sq.Ft.: $1,594.
  • Bottom Quadrant: 1 home sold, Median Sale Price: $2,198,000, Median DOM: 26, Avg. $/Sq.Ft.: $961.

These details provide insights into the segments of the market that are most active, with a focus on the top quadrant.

Conclusion

The Woodside market in July 2023 showed a decrease in sales but an increase in prices compared to both the previous month and year. The breakdown by quadrants offers valuable insights for buyers and sellers, highlighting the competitive nature of the market.

Data provided by MLSListings and is deemed reliable but not guaranteed.