Overview

• Home sales in June remained slow across the nine-county region, extending a three-year downward trend.
• The median sale price for an existing single-family home held at $1.4 million, sustaining the market’s elevated cost base.
• Homes now spend a median of 20 days on the market, compared with 14 days a year earlier, reflecting growing buyer patience.
• In Contra Costa and Alameda counties one in three listings saw price cuts in June, while half of the homes in San Mateo and Santa Clara counties were discounted.
• Buyers are leveraging the abundant supply to negotiate concessions and turning to strategies like joint purchasing to tackle high mortgage rates above 6.5%.