The end of the 3^rd quarter is a good time to take a look at how the real estate market compares to previous quarters. In terms of gauging market performance, we like to look at the median sales price as it tends to be a more accurate price indicator than the average, which can be inflated or deflated based on the sale of just one or two really high or low-end properties.

Whether you are buying or selling, please contact us any time for a personal consultation and to catch up on the market.

Portola Valley

In Portola Valley, the 3^rd quarter median price was $2,650,000 compared to $3,195,000 in the 2nd quarter and $3,100,000 in the 1^st quarter. The median price year-to-date through the 3^rd quarter, at $3,195,000, is down 4% compared to last year. In September, only 3 homes closed escrow (1 for more than list price), and another 6 homes are pending sale. Currently, Portola Valley has 17 homes for sale.

Woodside

In Woodside, the 3^rd quarter median price was $2,375,000 compared to $2,671,000 in the 2^nd quarter and $3,175,000 in the 1^st quarter. The median price year-to-date through the 3^rd quarter, at $2,671,000, is down 18% compared to last year. In September, 4 homes closed escrow (1 for more than list price) plus another 3 homes are pending sale. Currently, Woodside has 43 homes for sale, 32 of which have been on the market for more than 30 days.

Atherton

In Atherton, the 3rd quarter median price was $5,535,000 compared to $8,812,500 in the 2^nd quarter and $5,425,000 in the 1^st quarter. The median price year-to-date through the 3^rd quarter, at $6,374,500, is down 4% compared to last year. In September, only 2 homes closed escrow, both for less than list price, and 7 additional homes are pending sale. Currently, Atherton has 34 homes for sale, 18 of which have been on the market for more than 30 days.

Menlo Park

In Menlo Park, the 3^rd quarter single-family home median price was $2,250,000 compared to $2,565,000 in the 2^nd quarter and $2,500,000 in the 1^st quarter. The median price year-to-date through the 3^rd quarter, at $2,415,000, is down 7% compared to last year. In September, 20 homes closed escrow (only 6 for more than list price), and another 12 homes are pending sale. Currently, Menlo Park has 55 single-family homes for sale.

Palo Alto

In Palo Alto, the 3^rd quarter single-family median price was $3,080,000 compared to $3,235,000 in the 2^nd quarter and $2,810,000 in the 1^st quarter. The median price year-to-date through the 3^rd quarter, at $3,080,000, is down 4% compared to last year. In September, 27 homes closed escrow (17 for more than list price), and another 12 homes are pending sale. Currently, Palo Alto has 80 single-family homes for sale, half of which have been on the market for more than 30 days.

Los Altos

In Los Altos, the 3^rd quarter single-family median price was $3,244,500 compared to $3,295,000 in the 2^nd quarter and $3,475,000 in the 1^st quarter. The median price year-to-date through the 3^rd quarter, at $3,288,000, is down 3% compared to last year. In September, 28 homes closed escrow (16 for more than list price), and another 13 homes are pending sale. Currently, Los Altos has 40 single-family homes for sale, 26 of which have been on the market for more than 30 days.

Los Altos Hills

In Los Altos Hills, the 3^rd quarter median price was $4,100,000 compared to $4,550,000 in the 2^nd quarter and $4,200,000 in the 1^st quarter. The median price year-to-date through the 3^rd quarter, at $4,205,000, is down 13% compared to last year. In September, 8 homes closed escrow (half for more than list price), and another 3 homes are pending sale. Currently, Los Altos Hills has 36 homes for sale, 21 of which have been on the market for more than 30 days.