The clocks have been turned back (and 5:00 darkness is upon us), and the end of the year will be here before we know it. Often, at this time of year, the real estate market starts to slow down, but this was not he case in several of our local markets in October. 

Market knowledge, competitive pricing, and wide-reaching networks are essential for buying and selling homes in Portola Valley. Excellent negotiating skills are also key to successful results, particularly when multiple offers are involved. These are all things we excel at and just a few of the reasons we continue to represent more sellers and buyers in Portola Valley than any other real estate agent. 

Even though the holidays are fast approaching, there is no reason to delay your home search or putting your home on the market. Inventory is limited (bonus for sellers). Whether you are buying or selling, in this market, it's never too early to start preparing for 2026 and get a jump on the competition. In the meantime, we wish everyone a very Happy Thanksgiving! 

Portola Valley

There were 14 sales that closed escrow, the highest monthly total following 12 in April; 6 of those sales were for more than list price. All the sales were between $2.5 million and $8.75 million, which contributed to the 8% higher median price, both for the month and year-to-date. The median price this year is $4.25 million, and the average price is $5,151,129, which is still not the record set in 2022 when it was $5,341,106. Currently, there are 22 homes for sale, 17 of which have been on the market for more than 30 days.

Woodside

There were just 3 sales that closed escrow, following the highest monthly total, by far, in September, when there were 15 closed sales. All the sales in October were between $1.875 million and $3.5 million, which contributed to the 50% decline in median price compared to the same period last year. The median price year-to-date is down just 10% to $3,825,000. The average price, $6,018,296, is up 18% this year compared to all of last year but still not to the record high set in 2022. 

Atherton

There were 7 sales that closed escrow compared to 14 last October. The sales in October were between $5.465 million and $19.6 million; there were 5 sales for $13 million or more. The median price in October was up a significant 50% compared to the same period last year and up 13% compared to the same period year to date. The average price, $11,262,067 (per MLS and not including any off-market sales), is up 13% this year compared to all of last year and a new record high – by far. Currently there are just 25 homes for sale, 22 of which have been on the market for more than 30 days. Currently there are just 14 homes for sale, 8 of which have been on the market for more than 30 days.

Menlo Park

There were 32 sales that closed escrow compared to 23 in October of last year, and 23 of those sales were for more than list price. All the sales were between $1.1 million and $9.25 million. The median price year to date of $3.3 million is up 2% compared to the same period last year. The average price this year for a single-family home is $3,669,475, which is down just slightly from last year’s record high. Currently there are just 27 single-family homes for sale, 17 of which have been on the market for more than 30 days. 

Palo Alto

There were 46 sales that closed escrow compared to 40 in October of last year and tying with June for the highest number of monthly sales this year. 32 of those sales were for more than list price. All the sales were between $2.125 million and $15 million. The median price year to date of $3,860,000 is up 6% compared to the same period last year. The average price this year for a single-family home is $4,655,901, which is a record high and 9% more than all of last year. There are 41 single-family homes for sale, 30 of which have been on the market for more than 30 days. 

Los Altos 

In October, 35 homes closed escrow, compared to 24 in October of last year. Of these sales, 24 sold for more than list price. The median price year to date is up 12% and the average price for a single-family home is up 10% compared to all of last year, and a new record high at $5,151,723. Currently there are 23 single-family homes for sale.

Los Altos Hills

There were 8 homes that closed escrow compared to 9 the previous October. Year-to-date, the median price is down 4% but the average price is up 3.5% from all of last year to a record high of $6,409,655. Only 17 homes are currently for sale.