The July numbers painted an interesting picture across the cities we specialize in, with almost all cities showing an increase in the number of sales. Summer vacations have been in full swing, with families focused on travel and children out of school, yet real estate activity has remained stronger than normal. Limited inventory has helped fuel demand, along with continued strength in the stock market, particularly in the AI sector. 

For sellers, the timing remains favorable, with less competition and a strong pool of buyers. For buyers, opportunities remain across a range of neighborhoods and price points.

At The Kavanaugh Group, we closely track the market every day, and someone from our team is always available to connect, answer questions, and discuss your options. Please reach out to us any time.

Portola Valley

There were 8 sales in July compared to just 1 in July of last year. On August 4, Portola Valley recorded its highest sale this year at $20,500,000 on Westridge Drive – a home that sold over list price in just 7 days.

Median prices in Portola Valley are down slightly for the year. However, the number of sales at $7 million or more is unchanged from the same period last year. The average price is down 7%, largely due to a $25 million sale last year that pushed the average higher. This year’s highest sale to date is $14.5 million.

There are just 14 homes publicly for sale right now in Portola Valley, 9 of which have been on the market for 30 days or more, plus another 3 homes that have been privately marketed for more than 40 days each. 

Woodside

In Woodside, there were 8 sales in July compared to 5 in July of last year. 

A notable sale in July was one for $16 million, which sold for less than the list price of $16.9 million. There have been 5 other sales this year for this price or more, with the highest being $27.85 million.

Median prices in Woodside are up just slightly for the year. The average price is up a significant 27%, largely due to 11 sales for more than $10 million that have pushed the average higher this year. Last year in this same time period, there were just 6 sales for more than $10 million. 

There are 24 homes publicly for sale right now in Woodside, 18 of which have been on the market for 30 days or more, plus another 5 homes that have been privately marketed for more than 15 days each. 

Atherton 

In Atherton, sales were up sharply with 12 sales compared to just 3 in July of last year. 

A notable sale in July was one for $16 million, which sold for less than the list price of $16.9 million. There have been 5 other sales this year for this price or more, with the highest being $27.85 million.

Median prices in Woodside are up just slightly for the year. The average price is up a significant 27%, largely due to 11 sales for more than $10 million that have pushed the average higher this year. Last year in this same time period, there were just 6 sales for more than $10 million. 

There are 24 homes publicly for sale right now in Woodside, 18 of which have been on the market for 30 days or more, plus another 5 homes that have been privately marketed for more than 15 days each.

Menlo Park

There were just 22 sales compared to 38 in July of last year. For the year, however, sales are up 2%. 

A notable sale in July was one for $11,495,000, which sold for list price in just 9 days. There have been 5 other sales this year for more than $11 million, with the highest price being $13,500,000.

Median prices for single-family homes in Menlo Park are up 4% compared to the same period last year. The average price is up 9%, largely due to 6 sales for $10 million or more that have pushed the average higher this year. Last year in this same time period, there were just 2 sales for $10 million or more.

There are only 21 single-family homes publicly for sale right now in Menlo Park, only 4 of which have been on the market for more than 30 days, plus another 4 homes that have been privately marketed. 

Palo Alto

In Palo Alto, sales were up with 31 single-family home sales compared to 29 in July of last year. For the year, sales are up 7%. 

A notable sale in July was one for $21,775,000, which was the second-highest price this year. There have been 3 sales this year for more than $20 million.

Median prices for single-family homes in Palo Alto are up 6% compared to the same period last year. The average price is up 11%, largely due to 15 sales for $10 million or more that have pushed the average higher this year. Last year in this same time period, there were just 7 sales for $10 million or more.

There are 36 single-family homes publicly for sale right now in Palo Alto, 13 of which have been on the market for more than 30 days, plus another 4 homes that have been privately marketed. 

Los Altos & Los Altos Hills

In Los Altos, sales were up with 26 single-family home sales compared to 20 in July of last year. In Los Altos Hills, there were 10 compared to 8 last year. 

A notable sale in July was one for $9,300,000, which was the second highest price this year. In Los Altos Hills, there was a sale for $30 million that closed on July 10, making this the highest price ever recorded (on MLS) for Los Altos Hills. The previous high was $25 million.

Median prices for single-family homes in Los Altos are down slightly compared to the same period last year and the average is up just 1%. In Los Altos Hills, the median price is unchanged, but the average price is up 6%. 

There are just 19 single-family homes publicly for sale right now in Los Altos and 14 in Los Altos Hills.