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September 2020 Real Estate Update

Normally at this time of year, the real estate market would be taking off after a bit of a summer hiatus and before we wind down for the upcoming holidays. But, as you know, there is nothing normal right now. Instead, summer was our typical spring market – and so much more!

Larger lots and larger homes – this is what buyers want right now. And, our communities certainly have that to offer along with many homes that have options for fitness, outdoor recreation, and the coveted private office or two. There is strong demand from buyers as they look for the right home to meet their “new normal.”

If you have found that now is the time for you to sell – perhaps you need more space or perhaps it’s time for you to move elsewhere – we would love to represent you. We can sell your current home and we can help you find your new home, no matter where it is. We are just a phone call away so please call us anytime. In the meantime, thanks for continuing to be so respectful of others in our community as we work through this together. Stay well and be safe.

Portola Valley

In the past 3 years, the number of sales in June, July, and August ranged from a total of 13 to 17 sales. There were 41 sales this year. That’s a 141% increase this summer.

There are currently 18 homes for sale, including 3 between $11 million and $25 million, all of which have come on the market in the past month. We are representing the sellers of one of these properties – a 41-acre vineyard estate built in 2006 offered at $22 million.

Woodside

Last year, there were 12 sales in June, July, and August. This year, there were 25 sales (per the Multiple Listing Service). During the previous 3 months, March, April, and May, sales were also robust, which is surprising considering the pandemic. There were 21 sales compared to 20 for the same period in 2019. There are 29 homes for sale right now in Woodside, only 5 of which came on the market in the last 30 days.

Atherton

Last year, there were 17 sales in June, July, and August. This year, there were 22 sales (per the Multiple Listing Service). During the previous 3 months, March, April, and May, sales were down dramatically, which is no surprise. There were 10 sales compared to 21 for the same period in 2019. There are 37 homes for sale right now in Atherton, 16 of which came on the market in the last 30 days.

Menlo Park

In the past 3 years, the number of sales in June, July, and August ranged from a total of 86 to 104 sales. There were 90 sales this year. During the previous 3 months, March, April, and May, sales were down dramatically, which is no surprise. There were 54 sales compared to 85 to 95 for the same period in the previous 3 years. There are 63 single-family homes for sale right now in Menlo Park, 20 of which came on the market in the last 30 days.

Palo Alto

Last year, there were 73 sales in June, July, and August. This year, there were 106 sales. During the previous 3 months, March, April, and May, sales were down dramatically, which is no surprise. There were 65 sales compared to 105 for the same period in 2019. There are 69 single-family homes for sale right now in Palo Alto, 24 of which came on the market in the last 30 days.

Los Altos & Los Altos Hills

In the past 3 years, the number of sales in June, July, and August in Los Altos/Los Altos Hills ranged from a total of 94 to 114 sales. There were 140 sales this year. During the previous 3 months, March, April, and May, sales were down dramatically, which is no surprise. There were 71 sales compared to 103 to 127 for the same period in the previous 3 years. There are 36 single-family homes for sale right now in Los Altos, 22 of which came on the market in the last 30 days. In Los Altos Hills, there are 23 homes for sale, 6 of which came on in the past 30 days.

Ginny Kavanaugh

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John Kavanaugh: 415.377.2924 Joe Kavanaugh: 650.400.5312 Ginny Kavanaugh: 650.400.8076