Contrary to the popular belief that sales lag in the summer, the real estate market in our local areas performed quite well in July. Check out the individual cities and towns below.

We anticipate inventory to increase even more after Labor Day with sellers wanting to get their home sold before the holidays and end of year. We continue to represent many sellers and buyers in local areas and it would be our pleasure to represent you as well, whether buying or selling a home here or anywhere in the area. Please contact us for a personal consultation or just to catch up on the market.

Portola Valley

There were 6 homes that closed escrow, half for more than list price, and 5 additional homes that went into contract in July and are pending sale. The average price of homes sold this year through July was $4,147,643, down 5.5% from last year. The median price was $3,900,000, up 4% from last year however, still not to the record high of $4,200,000 reached in 2022. Currently, there are 21 homes actively for sale in Portola Valley ranging from $1,500,000 to $40,000,000. 

Woodside

There were 8 homes that closed escrow, 2 for more than list price, and 5 additional homes that went into contract in July and are pending sale. The average price of homes sold this year through July was $5,163,565, down 24% from last year’s record high (when there was a particularly large sale that skewed the average). On the other hand, the median price of $4,425,000 was up 11% from last year yet still not to the record high of $4,875,000 reached in 2022. Currently, there are 32 homes actively for sale in Woodside ranging from $1,799,999 to $36,000,000. 

Atherton

There were 7 homes that closed escrow, 2 for more than list price, and 3 additional homes that went into contract in July and are pending sale (including one listed at $35 million). The average price of homes sold this year through July was $10,083,765, a new record high and up 8% from last year. The median price also reached a record high of $7,900,000, up 1% from last year. Currently, there are 25 homes actively for sale in Atherton ranging from $4,788,000 to $33,375,000. 

Menlo Park

There were 32 single-family homes that closed escrow, half for more than list price, and 20 additional homes that went into contract in July and are pending sale. The average price of homes sold this year through July was $3,674,055, a new record high and up 3% from last year. The median price was $3,217,500, down 3% from last year’s record high. Currently, there are just 23 single-family homes actively for sale in Menlo Park ranging from $1,599,000 to $11,280,000.

Palo Alto

There were 27 single-family homes that closed escrow, 14 for more than list price, and 13 additional homes that went into contract in July and are pending sale. The average price of homes sold this year through July was $4,204,024, a new record high and up 10% from last year. The median price was $3,600,000, up 9% from last year and almost to the record high of $3,606,500 set in 2022. Currently, there are 32 single-family homes actively for sale in Palo Alto ranging from $1,875,000 to $29,880,000. 

Los Altos & Los Altos Hills

There were 32 single-family homes that closed escrow in Los Altos and in Los Altos Hills, 10 homes closed escrow. In both cities, the median and average prices reached new record highs. In the combined cities, 26 of the 42 sales, or 62%, were for more than list price, a clear indication of demand. Currently, there are just 20 single-family homes for sale in Los Altos and 17 for sale in Los Altos Hills.