While it’s too early in the year to accurately predict what will happen to the real estate market, we can be certain that right now is an amazing seller’s market –particularly for homes priced $3 million or less. The time to act is now, before the competition heats up. It would be my pleasure to represent you in selling your home. In my just published annual Portola Valley Real Estate Review and my Year-End Reviewfor Woodside, Atherton, Menlo Park, Palo Alto, Los Altos and Los Alltos Hills, I indicated a strong outlook for the market in 2015 and I remain very optimistic, following on the heels of the strength we saw in 2014.

Here is the breakdown of the real estate market in the first 5 weeks of 2015 for each of the individual cities and towns.

Portola Valley Market Update

• 2 homes have closed escrow, including one that was listed in January, sold immediately, and also closed escrow in January. The other sale was a very high-end property that had been on the market for just over 30 days
• An additional 4 homes went into contract, including 2 that were on the market for 90 days or more
• There are only 3 homes for sale in all of Portola Valley –all of which have been on the market for 70 days or more. The prices range from $3.7 million to $6.4 million

Woodside Market Update

• 6 homes have closed escrow and another 2 homes have gone into contract
• Sale prices ranged from $975,000 to $4.1 million
• There are 21 homes currently listed for sale in all of Woodside, most of which have been on the market for 39 days or more

Atherton Market Update

• There were 3 sales and all went into contract and closed escrow in January
• One of those homes was on the market for only 12 days and sold for $1.6 million over list price
• Currently there are only 12 homes for sale in all of Atherton – 5 of those homes were listed as of February 1

Menlo Park Market Update

• 10 homes have closed escrow, half of which went into contract and closed escrow in January - 3 of those were also listed in January, including 1 that was on the market for only one day!
• Sale prices ranged from $545,000 to $4,898,000
• There are 20 homes currently listed for sale in Menlo Park. 17 have been on the market for 30 days or less,including 13 listed since February 1

Palo Alto Market Update

• 8 homes have closed escrow in January, all of which soldfor list price or more
• 5 homes sold in 17 days or less, including 3 that were listed, sold, and closed escrow in January
• Currently there are 16 homes for sale in Palo Alto –6 were listed in January, including one listed at almost $12 million, and 6 have been listed since February 1

Los Altos and Los Altos Hills Market Update

• 19 homes have closed escrow and 17 of them were on the market for 30 days or less
• About half of the homes sold for for more than list price
• One home sold for $25 million in Los Altos Hills and the lowest priced home in Los Altos/Los Altos Hills was $1.8 million – 3 sold at that price
• There are 29 homes for sale in Los Altos/Los Altos Hills and most range in price from $1,749,000 to $7,998,000, one home is listed at $15 million