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August 2021 Real Estate Update

Last August, our report to you said: “As the new school year begins, the pandemic is particularly at the forefront as cities struggle with how to handle the education of our children.” Here we are one year later and we are still facing the same issues. We need to continue to be aware, stay safe, and take care of one another.

In the meantime, we feel like a broken record month after month as we report on the state of the real estate market. It just couldn’t be any hotter! Check out the details below for individual stats for our local markets.

This brings us to a short discussion on offers – and the ever-so-important word: experience. We can’t over-emphasize how important experience is in this market. A seasoned agent is well-equipped to handle the complexities involved with receiving as many as 20 offers, sometimes even more, on a property. Being able to negotiate is critical, the relationship with the buyer’s agent is essential, and ensuring that a deal will close is of utmost importance. Reverse the situation when we are representing a buyer and the same things are true for our offer to win. We consistently rank among the top small realtor teams, and this year is no different as we are in the top 1.5% nationwide. Our experience makes a difference.

So, what are you in need of? We are sure we can find it and we can certainly sell your property. We are just a phone call away. Call us anytime and in the meantime, stay well and be safe.

Portola Valley

In Portola Valley, 18 homes closed escrow in July and 13 of those sold over list price – that’s 72%! One home sold for $1.3 million over list and several sold for more than half a million over list.

Woodside

In Woodside, 18 homes closed escrow in July and 9 of those sold over list price – that’s 50%! One home sold for $2,262,000 over list and several sold for more than $200,000 over list.

Atherton

Atherton sales continue to be strong despite the fact that there were just 5 closed sales in July, 3 of which were over $15 million. There are also 10 homes that are currently in contract. The vast majority of Atherton homes do not sell over list price, in fact, only 15% this year have so far

Menlo Park

In Menlo Park, 52 homes closed escrow in July and 28 of those sold over list price. One home sold for $802,000 over list and several sold for more than half a million over list

Palo Alto

In Palo Alto, 47 homes closed escrow in July and 34 of those sold over list price – that’s 72%! One home sold for $1,142,000 over list and several sold for more than half a million over list.

Los Altos

In Los Altos, 48 homes closed escrow in July and 36 of those sold over list price – that’s 75%! One home sold for $3,900,000 over list (in an auction situation), another sold for more than $1 million over list, and many sold for more than half a million over list.

Los Altos Hills

In Los Altos Hills, 14 homes closed escrow in July and 8 of those sold over list price – that’s 57%! Four homes sold for more than $800,000 over list and several sold for more than $300,000 over list.

Ginny Kavanaugh

Top Agent
Ginny is a top producing agent with more than 25 years of experience. She ranks amongst the top 1%...

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John Kavanaugh: 415.377.2924 Joe Kavanaugh: 650.400.5312 Ginny Kavanaugh: 650.400.8076