Living in the heart of Silicon Valley, it is impossible to escape the conversation around artificial intelligence. New AI tools seem to emerge almost daily, generating excitement, debate, and no shortage of predictions about the future.

Real estate has been data-driven for many years. Online listings, valuation tools, virtual tours, and instant access to market information have long been part of the process. Yet more information has not necessarily made real estate decisions simpler.

After more than 40 years in this business, one thing has remained remarkably consistent: successful real estate decisions are rarely made based on information alone. The most important considerations often involve factors that never appear in a database. A seller's goals. A buyer's concerns. How the nuances of a neighborhood affect a listing price. The reputation of a street. The history of a particular home. The dynamics of a negotiation. The relationships that help transactions come together and stay together.

Technology can provide answers, but experience helps determine which questions should be asked in the first place. When it comes to one of your largest financial and personal decisions, experience, judgment, and relationships like ours remain as important as ever.

Before asking AI about the market, consider asking someone who has navigated more than 40 years of it. Call us any time, whether you are selling or buying.

Let's look at the data from last month as detailed below. The stock market continues to support local housing demand, though geopolitical uncertainty remains a factor.

Portola Valley

There were 5 closed escrows, one more than in May of last year. Year-to-date sales are down 21%, while the median sale price has declined just 4% and remains above $4 million. Most notable is the increase in market time, with the median days on market rising to 20 days. 

Woodside

There were 8 closed escrows, 3 fewer than in May of last year. Year-to-date sales are down 3%, and the median sale price is also down 3% while remaining above $4 million. Most notable is the decline in market time, with the median days on market dropping to just 14 days. 

Atherton

There were 12 closed escrows, 5 more than in May of last year. Year-to-date sales are up 13%, and the median sale price is up a significant 26% to more than $11 million. The length of time to sell is up slightly to just 11 days. 

Menlo Park

There were 30 closed escrows, 2 more than in May of last year. Year-to-date sales are up 20%, and the median sale price is up 4% to more than $3.5 million. The length of time to sell is down to just 8 days. 

Palo Alto

There were 55 closed escrows, 11 more than in May of last year. Year-to-date sales are up 15%, and the median sale price is up 4% to more than $4 million. The length of time to sell is just 8 days. 

Los Altos & Los Altos Hills

There were 32 closed escrows in Los Altos, 3 more than in May of last year, and 12 in Los Altos Hills, 4 more than in May of last year. Year-to-date sales are up 13% in Los Altos and 19% in Los Altos Hills. In both cities, the median price is down 4%.