We hope this note finds you well and enjoying the holiday season with family and friends. We are so fortunate to live in this wonderful area and we wish you all much happiness and continued health.

This year, two prominent factors have shaped the market: 1) a scarcity of homes for sale, and 2) escalating interest rates. The number of new listings this year is the lowest on records dating back to 1999! Buyer demand remains resilient, and we expect a surge in pent-up demand in 2024. On the mortgage front, rates are at their lowest in 4 months, which should contribute to the demand.

While the holidays are typically slow for sellers and buyers, the spring market really kicks off in January. Even though the holidays are on our minds, if you are thinking of selling, now is the time to be preparing your home for sale to get a jump on the competition next year. For buyers, without as much competition at the holidays, opportunities await.

Having sold many homes in the area, we know exactly what it takes to set your home apart both in physical presentation and in marketing – and how to find you the perfect home at terms that are right for you. Throughout the holidays, we remain dedicated and accessible via call, text, or email.

We wish you and your family very happy holidays!

Portola Valley

Portola Valley witnessed notable activity last month. There were 6 new listings and 7 closed escrows, including our Blue Oaks listing at $7.8 million and our Old Spanish Trail listing that sold for 9% over asking.

Woodside

There was just one closed escrow and five new listings, the lowest number since March of this year. There are 30 homes publicly for sale right now in Woodside, and only one has been on the market for less than 30 days.

Atherton

Atherton witnessed notable activity last month. There were 7 new listings and 8 closed escrows. There are just 17 homes publicly for sale right now in Atherton, and only two have been on the market for less than 30 days.

Menlo Park

There were 19 new listings and 28 closed escrows. There are just 25 homes publicly for sale right now in Menlo Park, and only three have been on the market for less than 30 days.

Palo Alto

There were 22 new listings and 19 closed escrows. There are 33 homes publicly for sale right now in Palo Alto, 11 of which have been on the market for less than 30 days.

Los Altos & Los Altos Hills

In Los Altos, there were 21 new listings and 18 closed escrows. Los Altos Hills on the other hand was slow with just 4 new listings and 4 closed sales. There are currently just 12 homes publicly for sale in Los Altos and 15 in Los Altos Hills.