In our market update to you each month, we typically compare the current data to the same period last year. It’s no surprise that the market numbers this month are dramatically up – since we are comparing them to the first full month of the pandemic last year. That’s when everything really came to a halt in real estate as we all adjusted to the new normal. It’s actually staggering what has transpired since then, and especially in the past couple of months. While some homes are “on fire,” they tend to be ones that are more “affordable” in the under $3 million price range. But pricing a home is still key as to how quickly it gets sold in any price range – and how many offers are received (we see homes with as many as 20 offers – imagine a new agent in the business trying to handle that ). Experience really does matter.

April was particularly strong in our local real estate markets. We know these areas inside and out having sold more homes here than anyone else. It could not be a better seller’s market. Is it time to talk? Remember, we can help you find your next home too, and that may mean connecting you with a Realtor out of the area to help you find it. As always, stay safe, stay well, and contact us with any questions.

Portola Valley

In Portola Valley there 15 closed sales (compared to just 3 in April last year). This included 2 for over $7 million and 6 that sold over list price. 11 of the 15 homes sold in 14 days or less. And, look at the sold listings year-to-date at 33 – up 230% compared to the first 4 months of last year. Currently, there are 12 homes in contract (all in the $2- and $3-millions). There are also just 12 homes actively for sale – the lowest number we can remember in a very long time – and 5 of these are for more than $12 million.

Woodside

Woodside had 9 closed sales (compared to 5 in April last year). This included 2 for over $6 million and 5 that sold over list price. 4 homes sold in less than 2 weeks. The sold listings year-to-date is at 33 – up 57% compared to the first 4 months of last year. Currently, there are 37 homes actively for sale – and 13 of these are for more than $10 million. There are also 18 homes in contract that are pending sale.

Atherton

12 homes closed escrow in Atherton (compared to just 1 in April last year). This included 4 for over $12 million and 3 that sold over list price, including the 2 most expensive sales. 7 homes sold in 15 days or less. The sold listings year-to-date tallied 31 – up 72% compared to the first 4 months of last year. Currently, there are just 22 homes for sale – and 13 of these are for more than $10 million. There are also 13 homes in contract that are pending sale, including 3 over $15 million.

Menlo Park

In Menlo Park there were 45 closed sales (compared to just 15 in April last year). This included 2 for over $7 million and 27 that sold over list price. 35 of the 45 homes sold in 14 days or less! There have been 135 sales year-to-date – up 125% compared to the first 4 months of last year. Currently, there are 57 homes in contract. There are also 50 homes for sale – and 3 of these are for more than $10 million.

Palo Alto

Palo Alto closed on 61 homes (compared to just 18 in April last year). This included 4 for over $7 million and 39 that sold over list price. 49 of the 61 homes sold in 14 days or less! The sold listings year-to-date at 140 represents a 106% increase compared to the first 4 months of last year. Currently, there are 54 homes in contract. There are also 70 homes for sale – and 10 of these are for more than $10 million.

Los Altos and Los Altos Hills

Los Altos has 40 closed sales (compared to just 17 in April last year). 96 listings have sold listings year-to-date – up 66% compared to the first 4 months of last year. Los Altos Hills was not as strong in April with 6 sales, the same number as in April of last year. Year-to-date, sales are ahead by just 2. Prices in both cities are up dramatically though with the median price up 40% compared to April last year. Currently, there are 46 homes in contract in Los Altos and 17 in Los Altos Hills. There are 39 homes for sale, 2 for more than $10 million, in Los Altos, and there are 32 homes for sale in Los Altos Hills, 12 of which are for more than $10 million