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Real Estate Market Blog: July 2017

 

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.

2017 Half Year Report

July 25, 2017
Ginny Kavanaugh
The Portola Valley real estate market reached record highs in the first half of 2017. The average price increased 4% to more than $3.1 million and the median price increased 11% reaching $3 million for the first time. Of the 35 sales, 22, or 63%, sold for more than list price. The vast majority of homes, 77%, sold in the first half were between $2 million and $4 million. The highest sale recorded in the Multiple Listing Service was $7 million. Homes also sold very quickly with 69% selling in 2 weeks or less. On average, the length of time to ...