Happy New Year and welcome to 2026. Here’s a look at how the local real estate markets performed in 2025 and what we’re seeing ahead. Our outlook for 2026 remains bullish on real estate in the area. A fairly level market is expected, with early signs of optimism already emerging this year, especially with stock market highs.

If you are thinking about buying or selling in 2026, it would be our pleasure to represent you. If you have any questions about local real estate, please reach out by phone or email.

Portola Valley

In 2025, sales declined just 1%. There were 76 sales, and new listings were also just one fewer than the year before. Although activity remained steady, total sales were still well below the 90 to 100 recorded in 2020 and 2021.

Prices were strong, with the median up 4% to $4,250,000 and the average up 13% to $5,573,720 – a new record high. In the first half of the year, the average price was $5,241,865 and rose to $5,888,558 in the second half, influenced by a $56 million sale. The median followed suit, a favorable indicator heading into 2026, with the first half median at $4,200,000 and the second half at $4,275,000. There were 37 sales in the first half and 39 in the second half.

As always, Central Portola Valley had the greatest number of sales at 39, followed by Ladera with 13. Los Trancos recorded 9 sales, Portola Valley Ranch 7, Santa Maria 5, and Brookside/Willowbrook 3.

Demand remained evident, with 37 homes, or 49%, selling over list price by as much as 27%. Homes also sold quickly, with 43 sales, or 57%, closing in two weeks or less. The median days on market was only 13, just one day more than the previous year.

As this report goes to print, only 11 homes are currently for sale (with another 2 not publicly marketed). There are 4 homes currently in contract. 

Woodside

The number of sales reported on the Multiple Listing Service increased by just 3 in 2025. There were 75 sales, which reflected an increase of 4% compared to 2024. The average price increased 15% to $5,863,539. The median price, however, was down 8% to $3,935,000. There were 23 homes, or 32%, that sold over list price. Homes took longer to sell with a median days on market of 40, more than double the previous year.

At the time of this report, there are 12 homes currently for sale (and another 3 that are not being publicly marketed). There are 3 homes that are currently in contract. 

Atherton

The number of sales reported on the Multiple Listing Service declined in 2025. There were 77 sales, which reflected a decline of 10% compared to 2024. Average prices set an all-time record high, rising to $11,953,142, reflecting a 20% increase. The median price was even higher with a 26% increase to $9,650,000. There were 24 homes, or 28%, that sold over list price. Homes sold much faster with a median days on market of 14, a 40% decline compared to the previous year.

At the time of this report, there are only 8 homes currently for sale (and another 7 that are not being publicly marketed). There is just 1 home currently in contract. 

Menlo Park

The number of sales of single-family homes reported on the Multiple Listing Service increased in 2025. There were 303 sales, which reflected an increase of 5% compared to 2024. The average price was just slightly less than it was in 2024. The median price, however, increased 2% to $3,00,000, matching the record high in 2023. There were 165 homes, or 54%, that sold over list price. Homes sold with a median days on market of 11, the same as it was in 2024.

At the time of this report, there are only 13 single-family homes currently for sale (and another 4 that are not being publicly marketed). There are 13 homes that are currently in contract. 

Palo Alto

The number of single-family home sales reported on the Multiple Listing Service increased in 2025. There were 402 sales, which reflected an increase of 4% compared to 2024. The average price reached a record high at $4,662,467, a 10% increase. The median price was also up 6% to $3,870,000. There were 258 homes, or 64%, that sold over list price. Homes took just one day longer than in 2024, with a median days on market of just 9.

At the time of this report, there are just 14 single-family homes currently for sale (and another 10 that are not being publicly marketed). There are 12 homes that are currently in contract.

Los Altos and Los Altos Hills

The number of sales in Los Altos and Los Altos Hills increased in 2025. There were 283 sales, which reflected an increase of 5% in Los Altos. In Los Altos Hills, there were 103 sales, which was a 34% increase. The median price was a record high in Los Altos, rising 10% to $4,850,000. In Los Altos Hills, the median price dipped a slight 2% to $5,500,000. In Los Altos, 190 homes, or 67%, sold over list price; in Los Altos Hills, 49 homes, or 48%, sold over list price. Homes sold faster in Los Altos Hills, with a median days on market of just 11, and there was no change in Los Altos, with a median days on market of 8.

At the time of this report, there are only 12 homes currently for sale in Los Altos and 4 homes for sale in Los Altos Hills.