Our outlook for 2022 remains bullish on real estate as people continue to look for larger spaces and ensure they have exactly what they need for a new live/work environment. The strength of the stock market and continuing historic low interest rates are also fueling the market, despite the ongoing pandemic.

If you have been thinking about buying or selling in 2022, it would be our pleasure to represent you. If you have any questions about Woodside real estate, or the surrounding Peninsula communities, please reach out by phone or email.

There were 110 homes sold, the highest number on records dating back to 2005, and 20% more than in 2020.

The median price of a home reached a record high, although only by $5,000. At $3,505,000, half of the homes sold above this price and half sold for less than this price. The average price remained over $4 million after crossing that threshold for the first time in 2020. However, it was down 3% compared to 2020. There were 14 sales for more than $6 million, including one at $14.6 million and one at $16 million; only 3 sales were for less than $2 million. The majority of the homes, 33%, sold between $3 million and $4 million.

For the year 2021, the median price for a home (on the Multiple Listing Service) in Atherton increased 25% to $7,934,500. The average price also reached a record high, increasing 23% to $9,668,347. This is the first time the average has ever exceeded $9 million. The number of sales for the year rose dramatically from 85 in 2020 to 104 in 2021. Homes sold much more quickly as well with half of the homes selling in 12 days or less, compared to 20 days the previous year.

In December, there were 9 closed escrows compared to 7 the year before. 5 homes sold for more than list price and 5 homes sold for more than $10 million. For the year, there were 36 sales in excess of $10 million compared to 23 in 2020.

For the year 2021, the median price for a single-family home in Menlo Park increased 14% and the average price reached a record high at $3,275,421 – a 10% increase compared to 2020. This is appreciation of way more than double since 2012. The number of sales dramatically increased with a 73% gain and half of the homes sold in just 9 days or less.

In December, sales were surprisingly strong with 30 closed escrows compared to 28 in the previous year. 16 of the homes sold for more than list price and 2 sales were in excess of $7 million.

For the year 2021, the median price for a single-family home in Palo Alto increased 19% to $3,558,553, while the average price increased 13% to almost $4 million at $3,916,148. This is appreciation of more than double since 2012. The number of sales was up a dramatic 54% and half of the homes sold in just 8 days or less.

In December, sales were surprisingly strong with 36 closed escrows compared to 29 the previous December. 21 of the homes sold for more than list price and 2 homes sold between $7 million and $10 million. For the year, there was just 1 sale between $15 million and $20 million compared to 5 in 2020.

For the year 2021 in Los Altos, the median price for a single-family home increased 22% exceeding $4 million for the first time. The average price was even higher at $4,288,922. In Los Altos Hills, the median price was up 26% for the year to a record high of $5,162,500 and the average price was up 19% to $5,794,390. There was a significant increase in the number of sales in both cities between 27% and 28%.

In December, sales were down in Los Altos to just 19 and in Los Altos Hills there were 10 sales. 17 homes sold for more than list price, and there was one sale for $7.1 million in Los Altos Hills and one for $6.7 million in Los Altos. For the year, 14 homes sold for $7 million to $11.15 million in Los Altos and 9 homes in Los Altos Hills sold for $10 million to $21 million.