Real Estate Market Blog: July 2016

 

Insights on the real estate market trends on the Mid-Peninsula: Portola Valley, Woodside, Atherton, Menlo Park, Palo Alto, Los Altos and Los Altos Hills.

2016 Half Year Report: Woodside, Atherton, Menlo Park, Palo Alto, Los Altos and Los Altos Hills

July 15, 2016
Ginny Kavanaugh
Only 33 homes sold in the first half of 2016 compared to 46 in the same period last year. However, prices reached record highs. The average sales price rose 31% and the median price increased 45%. Despite the fact that days on market increased to the highest level since 2012, more than half of the homes sold in 30 days or less. The majority of homes in the first half of the year, 67%, sold for less than list price, although 7 sold for more than asking. The highest end of the market performed well in the first half with 4 sales in excess of ...

2016 Half-Year Report: Portola Valley

July 11, 2016
Ginny Kavanaugh
The Portola Valley real estate market remained strong in the first half of 2016 with 34 sales, just one more than the same period last year. Sales prices continue to rise with the average up 1% and the median up 4.7% over last year. Homes sold very quickly with 62% selling in 2 weeks or less – a marked improvement over previous years. Half of the homes sold between $2 million and $3 million, and 5 sales exceeded $5 million, 4 of which sold in 2 weeks or less. Currently, there are just 11 homes on the market, ranging between $965,000 and $15 ...