Portola Valley

Sales are up 55% in the first half of the year compared to last year. While much of last year’s first half was at the height of the pandemic, the impressive number of sales this year outperforms the number of sales in the first half of just about every year that we can recall. In fact, the 51 sales in the first half compares to 55 sales in all of 2019 (long before the pandemic)! It was a very strong first half.

The highest end of the market was not as strong, thus the average and median prices were both down. The record highs are still in 2020. In the first half, there were 4 homes sold for more than $7 million, 25 between $3 million and $5 million, 19 in the $2 million range, and 3 for less than $2 million. Of the 51 sales, only 18 sold for more than list price but 31 sold in 2 weeks or less – a clear indication of demand.

Currently 11 homes are pending sale (8 of which sold in less than 2 weeks) and there are just 9 homes for sale, 6 of which have been on the market for more than 30 days.

Woodside

Sales were up a significant 73% in the first half of the year compared to the same period last year. While much of last year’s first half was at the height of the pandemic, the impressive number of sales this year outperforms the number of sales in the first half of just about every year that we can recall. In fact, the 64 sales in the first half compares to 65 sales in all of 2019 (long before the pandemic)! It was a very strong first half.

The highest end of the market in the first half was strong, thus the average and median prices were both up significantly. The average price in the first half exceeded $5 million for the first time. In the first half, there were 4 homes that sold between $13.5 and $35 million and 3 homes that sold in the $9 million price range. Of the 64 sales, only 23 sold for more than list price but half sold in 2 weeks or less – a clear indication of demand.

Currently 10 homes are pending sale (including one listed at $49 million) and there are just 20 homes for sale, 10 of which have been on the market for more than 100 days.

Atherton

Sales were up a significant 93% in the first half of the year compared to the same period last year. While much of last year’s first half was at the height of the pandemic, the impressive number of sales this year outperforms the number of sales in the first half of just about every year that we can recall. In fact, the 52 sales in the first half compares to 67 sales in all of 2019 (long before the pandemic)! It was a very strong first half.

The highest end of the market in the first half was strong, thus the average and median prices were both up significantly. The average price in the first half reached a record high of almost $9 million. In the first half, there were 14 homes that sold between $10 and $30.5 million and 4 homes that sold in the $9 million price range. Of the 52 sales, only 10 sold for more than list price but half sold in 15 days or less – a clear indication of demand.

Currently 5 homes are pending sale and there are just 25 homes for sale, 11 of which have been on the market for more than 2 months.

Menlo Park

Sales were up a significant 125% in the first half of the year compared to the same period last year. While much of last year’s first half was at the height of the pandemic, the impressive number of sales this year outperforms the number of sales in the first half of just about every year that we can recall. In fact, the 243 sales in the first half compares to 289 sales in all of 2020.

The highest end of the market in the first half was strong, thus the average and median prices were both up. The average price in the first half exceeded $3 million for the first time. In the first half, there were 3 homes that sold for $10 million or more and 11 homes that sold for $6 million to $8.75 million. Of the 243 sales, 147, or 60%, sold for more than list price and 172, or 71%, sold in 2 weeks or less – all indications of demand.

Currently 33 single-family homes are pending sale (22 of which sold in less than 2 weeks) and there are just 42 single-family homes for sale, 10 of which have been on the market for more than 60 days.

Palo Alto

Sales were up a significant 107% in the first half of the year compared to the same period last year. While much of last year’s first half was at the height of the pandemic, the impressive number of sales this year outperforms the number of sales in the first half of just about every year that we can recall. In fact, the 257 sales in the first half compares to 334 sales in all of 2019 (long before the pandemic).

The highest end of the market in the first half was strong, thus the average and median prices were both up. The average price in the first half reached a record-high exceeding $3.8 million. In the first half, there were 3 homes that sold between $10 million and $13.85 million and 3 homes that sold in the $9 million price range. Of the 257 sales, 158, or 61%, sold for more than list price and 185, or 72%, sold in 2 weeks or less – all indications of demand.

Currently 35 single-family homes are pending sale (24 of which sold in 2 weeks or less) and there are 53 single-family homes for sale.

Los Altos and Los Altos Hills

In Los Altos, sales were up a significant 73% in the first half of the year compared to the same period last year. While much of last year’s first half was at the height of the pandemic, the impressive number of sales this year outperforms the number of sales in the first half of just about every year that we can recall. In Los Altos Hills, sales were up 60%.

A record-high average price was reached in Los Altos, exceeding $4 million for the first time, and up 12% compared to all of 2020. The median price also reached a record high at $3.9 million – a 16% increase compared to 2020. The highest end of the market was strong with 6 sales between $6 million and $8.4 million.

Los Altos Hills also reached a record-high average price in the first half at $5,603,059 – a 15% increase over 2020. The median price, also a record high, exceeded $5 million for the first time. There were 3 sales for more than $10 million and 8 sales between $7 million and $10 million.

Currently 6 single-family homes are pending sale in Los Altos and there are only 18 single-family homes for sale. In Los Altos Hills, there are 13 homes pending sale and 21 homes for sale.