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September 2018 Real Estate Update

 

September 12 2018
September 12 2018
By

It’s official – schools are back in session and the official start of Fall is right in front of us. Clearly there was a bit of a summer slowdown in local real estate market a bit of a slowdown. However, rather than seeing this as any kind of shift in the market, it could actually be due to the strength of the economy, which resulted in more vacations than ever due to good fortune. As a result, buying a home was not the priority.

Now that school has started, we are seeing a push to get homes on the market so sellers can close before year end. This is normal at this time of year. It’s also not too early to start preparing your home for sale for early next year. Whether you are buying or selling, perhaps the time is right for you. It would be my pleasure to represent you.

Portola Valley

Only 1 Portola Valley home closed escrow in August, however, it is important to note that 4 additional homes went into contract in August, and another has already gone into contract in September. Currently, there are 13 homes for sale in Portola Valley, ranging in price from $1,350,000 to $16,500,000.

Woodside

In August just 5 homes closed escrow in Woodside after 17 homes in the previous 2 months.In addition to the 5 homes that closed escrow, it isimportant to note that 6 other homes went into contract in August, and another one has already gone into contract in September. Currently, there are 28 homes for sale in Woodside ranging from $800,000 to $34,600,000.

Atherton

In August 5 homes closed escrow in Atherton after 24 homes in the previous 3 months. In addition to these closings, it is important to note that 3 other homes went into contract in August, including one listed at $22.5 million, and another 2 have already gone into contract in September. Currently, there are 20 homes for sale in Atherton ranging from $2,350,000 to $32,500,000.

Menlo Park

Unlike some surrounding cities, homes sales in Menlo Park held fairly steady in August and 68% sold for more than list price.In addition to the 28 homes that closed escrow in Menlo Park, another 15 homes went into contract in August, and 8 more have already gone into contract in September. Currently, there are 36 single-family homes for sale in MenloPark ranging from $920,000 to $19,800,000.

Palo Alto

There was a bit of a slow down in July and August with 60 homes closing escrow compared to 86 in the previous two months. In addition to the 31 homes that closed escrow in August, 81% of which sold for more than list, another 11 homes went into contract in August. Currently, there are 49 single-family homes for sale in Palo Alto ranging from $1,988,000 to $19,950,000.

Los Altos & Los Altos Hills


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