We would love to know what you are hearing about the market and what questions it raises for you. We know that each individual situation is unique – whether selling or buying – and we encourage you to get answers from professionals with years of experience. We are those agents and we invite you to call us any time to chat. There is never any obligation. It would be our pleasure to be your real estate advisors. In the meantime, check out what's been happening in the local real estate market.
Portola Valley
In the first half of the year, Portola Valley's real estate market was up. The average home price during this period was $4,093,354, almost 1% higher than the first half of last year, and the median price, at $3,900,000 was 7% higher.
There were 35 sales in the first half, with 21 below $4 million, a contributing factor to the average price not being even higher. In comparison, last year there were just 26 sales in the first half. Homes sold much faster this year with a median days on market of just 9, compared to 25 in the first half of last year.
Currently, there are 20 homes for sale on the Multiple Listing Service, priced between $1,500,000 and $40,000,000. Only 9 have been on the market for less than 30 days.
Woodside
In the first half of the year, Woodside’s median price was up 1% to $4,125,000, compared to the same period last year. The average home price of $4,791,684 was down significantly due to the sale of a $40+ million home in the first half of last year, which brought the average up. This year, there have only been two sales for more than $10 million; it’s the lower end of the market that has been particularly strong.
There were 38 sales in the first half, compared to 31 in the first half last year; a 23% increase. Homes sold much faster this year with median days on market of 13 compared to 23 in the same period last year.
Currently, there are 29 homes publicly for sale on the Multiple Listing Service, priced between $1,799,950 and $110,000,000. All but 4 homes have been on the market for more than 30 days.
Atherton
In the first half of the year, Atherton’s real estate market was very strong, particularly in the high end, resulting in a record-breaking average price. The average home price during this period (per sales only reported on the Multiple Listing Service) was $10,641,568, a 10% increase compared to $9,717,337 in the same period last year. The median price also reached a record high of $9,000,000, a 20% increase.
There were 45 sales in the first half, with 21 for $10 million or more contributing to the increase. In comparison, last year there were 38 sales in the first half. Homes sold much faster this year with a median days on market of just 18 compared to 33 last year.
Currently, there are 25 homes publicly for sale on the Multiple Listing Service, priced between $3,488,000 and $33,375,000. All but 3 homes have been on the market for more than 30 days.
Menlo Park
In the first half of the year, Menlo Park’s real estate market was strong, resulting in a 1% increase in average price to a new record high. The average single-family home price during this period was $3,720,646 compared to $3,678,652 in the same period last year. The median price, however, was down 4% to $3,300,000.
There were 150 sales in the first half compared to 126 sales in the first half last year; a 19% increase. Homes sold slightly faster than last year with median days on market of 11 compared to 12.
Currently, there are 30 single-family homes publicly for sale on the Multiple Listing Service, priced between $1,148,000 and $9,995,000. All but 17 homes have been on the market for more than 30 days.
Palo Alto
In the first half of the year, Palo Alto’s real estate market was strong, resulting in a 7% increase in average price to a new record high. The average single-family home price during this period was $4,185,711 compared to $3,904,834 in the same period last year. The median price, at $3,600,000, increased 6% to a record high.
There were 200 sales in the first half compared to 167 sales in the first half last year; a 20% increase. Homes sold faster than last year with median days on market of only 8 compared to 11.
Currently, there are 44 single-family homes publicly for sale on the Multiple Listing Service, priced between $1,875,000 and $29,880,000. All but 25 homes have been on the market for more than 30 days.
Los Altos and Los Altos Hills
In the first half of the year, Los Altos' real estate market was strong, resulting in a 3% increase in average price to a new record high. The average single-family home price during this period was $4,475,340 compared to $4,352,320 in the same period last year. The median price, at $4,251,613, increased 6% to a record high. There were 124 sales in the first half compared to 103 sales in the first half last year; a 20% increase. Homes sold faster than last year with median days on market of only 8 compared to 9.
In Los Altos Hills, the average price in the first half was $6,518,663, a 7% increase from the first half of last year and a new record high. The median price also reached a record high of $6,100,000. There were 33 sales in the first half compared to 28 in the first half of last year. There were 4 sales for more than $10 million.
Currently, there are 27 single-family homes publicly for sale on the Multiple Listing Service in Los Altos, priced between $1,990,000 and $12,500,000, and 21 homes in Los Altos Hills priced between $4,395,000 and $16,750,000.
