We want to first acknowledge that we are still in this pandemic together and we seem to be a long way from it being over. As the new school year begins, it’s particularly at the forefront as cities struggle with how to handle the education of our children. We continue to be proud of our community and the respect we see for keeping one another safe. Let’s keep it up.

In the meantime, the real estate market has been incredibly resilient. So what is causing this flurry of activity? We think it’s worth noting that sellers and buyers alike are looking for changes. Priorities have shifted and home has never been more important, particularly as we work from home and need distance-learning space. Here are a few things we keep hearing about:

• Dedicated workspaces (Zoom zones, more space, and more privacy)
• Detached studios and dwellings for offices (not guests)
• Food storage space (larger pantries and Costco rooms)
• Hands-free everything (faucets, doors, keyless entries, trashcans)
• More sinks (for handwashing of course)
• Smart toilets and bidets (the great American toilet-paper shortage)
• Better and bigger yards (along with space for vegetable gardens)

What are you looking for? We are sure we can find it. And, if it involves selling your current home, we know we can help you with that. We are just a phone call away. Call us anytime and in the meantime, stay well and be safe.

Portola Valley

As we reported to you last month, but it’s worth repeating, in current records dating back to 2003, June 2020 had the highest number of monthly sales ever! 19 homes closed escrow; another 13 closed escrow in July.

Woodside

More homes closed escrow in July than in any month since November of last year. Sales have steadily increased each of the past 3 months and more and more high-end homes have been selling this year.

Atherton

More homes closed escrow in July than in July of last year. Sales have steadily increased each of the past 3 months and the high end of the market has been strong this year with 10 sales for more than $10 million.

Menlo Park

The number of sales is down this year but prices are increasing and the majority of sales were over list price in July, a strong indication of demand. In July, the median price was up 55% compared to July last year. Year-to-date, the average price was up 6% compared to all of last year and the median price was up 11%.

Palo Alto

More homes closed escrow in July than in any month since June of 2018. Sales have steadily increased each of the past 3 months and more and homes continue to sell for more than list price.

Los Altos and Los Altos Hills

As of the end of July, the number of sales year-to-date was up a dramatic 50% in Los Altos Hills but down in Los Altos. Median price is down in both areas compared to the same period last year, but July was a strong month and prices were up in both cities.