Demand has been very high and continues to be. What remains low is the number of new listings. It continues to be a seller's market, but we are also getting excellent results for our buyers. The stock market volatility and recent rise in interest rates are factors that may affect this market going forward. We are encouraging our clients to act now. We have represented many buyers and sellers in the local real estate markets. We are happy to share our advice with you any time. Just give us a call.

Check out the details below for specifics on local markets.

Portola Valley

There were 9 homes that closed escrow in April – the same number that closed escrow in the entire first quarter this year. Despite the large increase, the total number of sales this year, 18, is down 45% compared to the first four months of last year, which was an all-time high of 33. Pre-pandemic, sales in the first four months were just 12 in 2018 and 10 in 2019.

In April, 4 homes sold for more than $7 million; totaling 7 homes this year that sold for more than $7 million, which has resulted in the year-to-date median price increasing a significant 61% to $5,300,000. Also interesting to note is that 3 of the 4 sales in April in this category sold at list price. The 4 lowest priced sales, from $3.2 million to $3.9 million, all sold for more than list price.

Right now, there are just 12 homes for sale in Portola Valley, 5 of which have been on the market for more than 30 days. There are also just 2 homes that are in contract and pending sale.

Woodside

There were 7 homes that closed escrow in April – half the number that closed escrow in the entire first quarter this year. Despite the large increase, the total number of sales this year, 21, is down 36% compared to the first four months of last year, which was an all-time high of 33. Pre-pandemic, sales in the first four months were just 19 in both 2018 and 2019.

In April, 2 homes sold for more than $9.8 million, which resulted in a 24% increase in the median price compared to the same period last year. Year-to-date, the median price was down 8%. Also interesting to note is that the highest priced sale in April, at $12 million, sold at list price and only one home, the lowest priced sale, sold for more than list price.

Right now, there are 26 homes for sale in Woodside, 15 of which have been on the market for more than 30 days. There are also 8 homes that are in contract and pending sale.

Atherton

There were 8 homes that closed escrow in April compared to 17 that closed escrow in the entire first quarter this year. Despite the large increase, the total number of sales this year, 25, is down 19% compared to the first four months of last year, which was an all-time high of 31. Pre-pandemic, sales in the first four months were just 17 in both 2018 and 2019.

In April, 4 homes sold for more than $11 million, which resulted in a 24% increase in the median price compared to the same period last year. Year-to-date, the median price was up a significant 37% to $10 million. Also interesting to note is that the 3 lowest priced sales were all for more than list price and only one home took longer than 30 days to sell.

Right now, there are 21 homes for sale in Atherton, 13 of which have been on the market for more than 30 days. There are also 8 homes that are in contract and pending sale.

Menlo Park

There were 38 homes that closed escrow in April compared to 65 that closed escrow in the entire first quarter this year. Despite the large increase, the total number of sales this year, 103, is down 25% compared to the first four months of last year, when it reached 137. Pre-pandemic, sales in the first four months were just 85 in 2018 and 90 in 2019.

In April, 3 homes sold for more than $5 million, which resulted in a 6% increase in the median price compared to the same period last year. Year-to-date, the median price was up a significant 21% to $3.2 million. Also interesting to note is that the 4 highest priced sales all sold for more than list price and only 4 of the 38 sales in April took longer than 2 weeks to sell.

Right now, there are 38 single-family homes for sale in Menlo Park, 12 of which have been on the market for more than 30 days. There are also 22 homes that are in contract and pending sale.

Palo Alto

There were 37 homes that closed escrow in April compared to 83 that closed escrow in the entire first quarter this year. Despite the large increase, the total number of sales this year, 120, is down 15% compared to the first four months of last year, when it reached 141. Pre-pandemic, sales in the first four months were 107 in 2018 and 104 in 2019.

In April, 8 homes sold for $5 million or more, which resulted in a 17% increase in the median price compared to the same period last year. Year-to-date, the median price was up a significant 22% to just over $4 million. Also interesting to note is that 26 of the 37 sales, or 70%, sold for more than list price and only 6 homes took longer than 3 weeks to sell.

Right now, there are 40 single-family homes for sale in Palo Alto, 11 of which have been on the market for more than 30 days. There are also a significant 42 homes that are in contract and pending sale.

Los Altos

There were 11 homes that closed escrow in April in Los Altos Hills compared to 13 that closed escrow in the entire first quarter this year. Despite the large increase, the total number of sales this year, 24, is only up 9% compared to the first four months of last year, when it reached 22. Pre-pandemic, sales in the first four months were 23 in 2018 and 10 in 2019. In April, 2 homes sold for $11 million or more, which resulted in a 12% increase in the median price compared to the same period last year. Year-to-date, the median price was up a significant 27% to over $5.7 million.

Los Altos Hills

In Los Altos, there were 24 homes that closed escrow compared to 43 that closed escrow in the entire first quarter this year. Despite the large increase, the total number of sales this year, 67, is down a significant 30% compared to the first four months of last year, when it reached 96. Pre-pandemic, sales in the first four months were 86 in 2018 and 69 in 2019. In April, 7 homes sold for more than $5 million, which resulted in a 16% increase in the median price compared to the same period last year. Year-to-date, the median price was up 14% to $4.4 million.