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June 2014 Real Estate Update

Real Estate Market Update

Prices continue to rise all around the Peninsula. The numbers insome cities (and individual neighborhoods) are showing staggering increases year over year. The median price in San Mateo County has exceeded $1 million this year, currently at $1,050,000. This means that half of all homes sold in San Mateo County are selling for more than $1,050,000. To put this in perspective, just 2 years ago, the median price in San Mateo County was $735,000; last year, it was $910,000. Sales in parts of Santa Clara County are also tremendous. Read down on specifics for each of the areas of Portola Valley, Woodside, Atherton, Menlo Park, Palo Alto, Los Altos and Los Altos Hills.

Portola Valley Home Sales

Sales in Portola Valley are strong. In May, 8 homes closed escrow (see below), and all but 2 of them sold for more than list price.There are an additional 14 homes that are pending sale, half of which sold in 19 days or less of being on the market. Also, 4 of these pending sales were listed for sale in excess of $4 million.The number of homes currently for sale is very low. There are just 14, and no new listings have come on the market for almost 3 weeks.

Address

Bed/Bath

List Price

Sale Price

DOM

Georgia Ln, Portola Valley

5/6.5

$7,250,000

$6,750,000

51

Mapache, Portola Valley

3/2.5

$3,275,000

$3,420,000

3

Hawkview, Portola Valley

3/3

$2,495,000

$2,795,000

9

Durazno Wy, Portola Valley

3/4

$1,795,000

$2,165,000

12

Carmel Wy, Portola Valley

3/3.5

$1,695,000

$1,890,000

6

S Balsamina, Portola Valley

3/2

$1,625,000

$2,010,000

11

La Cuesta, Portola Valley

2/3

$1,445,500

$1,425,000

40

Ramona Rd, Portola Valley

1/1

$999,000

$1,070,000

12

Woodside Home Sales

In Woodside, sales are strong. In May, 9 homes closed escrow(see below), 4 sold for more than list price, and 2 sold for more than $6 million. There are an additional 15 homes that are pending sale. Inventory has increased quite a bit; currently, there are 53 homes for sale in Woodside, 9 listed for more than $10 million.

Address

Bed/Bath

List Price

Sale Price

DOM

Blue Ridge Ln, Woodside

3/3.5

$7,375,000

$7,375,000

13

Woodside Rd, Woodside

4/4+

$6,795,000

$6,600,000

17

Woodview Ln, Woodside

4/3.5

$4,998,000

$4,600,000

72

Bridle Ln, Woodside

4/3+

$4,450,000

$4,630,000

379

Brookwood Rd, Woodside

5/4

$2,498,000

$2,710,000

16

Grandview Dr, Woodside

5/5

$1,898,000

$1,912,500

6

Hobart Heights Rd, Woodside

3/2

$1,695,000

$1,695,000

17

Espinosa Rd, Woodside

3/2

$1,549,000

$1,575,000

29

La Honda Rd, Woodside

4/2

$1,098,000

$1,098,000

13

Atherton Home Sales

Atherton sales are strong. In May, 14 homes closed escrow (see below), 5 sold for more than list price, and 2 sold for more than $15 million. There are an additional 7 homes that are pending sale, half of which sold in 10 days or less of being on the market. Currently, there are 25 homes for sale in Atherton.

Address

Bed/Bath

List Price

Sale Price

DOM

Polhemus Av, Atherton

7/8+

$18,900,000

$18,900,000

12

Park Ln, Atherton

5/7+

$16,500,000

$15,300,000

41

Stockbridge Av, Atherton

5/6+

$7,925,000

$7,350,000

360

Lowery Dr, Atherton

5/3+

$7,495,000

$7,295,000

25

Stockbridge Av, Atherton

4/3.5

$5,298,000

$5,150,000

10

Mulberry Ln, Atherton

5/3

$4,995,000

$4,900,000

39

Flood Ci, Atherton

4/3.5

$3,895,000

$4,250,000

9

Atherton Av, Atherton

4/4.5

$3,999,888

$4,100,003

15

Heather Dr, Atherton

4/4

$3,795,000

$3,807,000

8

Almendral Av, Atherton

3/3.5

$3,495,000

$3,495,000

8

Jennings Ln, Atherton

4/3

$2,825,000

$3,100,000

14

Maple Av, Atherton

4/3

$2,158,000

$2,158,000

49

Valparaiso Av, Atherton

3/2

$1,398,000

$1,940,000

9

Southgate St, Atherton

3/2

$1,795,000

$1,795,000

8

Menlo Park May 2014 Home Sales

Menlo Park sales are also strong. In May, 29 homes closed escrow (see below), and all but 7 of them sold for more than list price. There are an additional 37 homes that are pending sale, half of which sold in 13 days or less of being on the market. Currently, there are 40 homes for sale with several new listingsthis past week.

Address

Bed/Bath

List Price

Sale Price

DOM

Santa Cruz Av, Menlo Park

5/4+

$5,895,000

$5,750,000

23

White Oak Dr, Menlo Park

7/5.5

$5,400,000

$5,480,000

0

Berkeley Av, Menlo Park

4/3.5

$3,798,000

$4,373,000

11

Loma Prieta Ln, Menlo Park

6/5+

$4,349,000

$4,120,000

87

Klamath Dr, Menlo Park

4/4.5

$3,950,000

$3,900,000

54

Camino A Los Cerros, Menlo Park

4/3.5

$3,650,000

$3,855,000

9

College Av, Menlo Park

4/3.5

$3,650,000

$3,650,000

15

Royal Oaks Ct, Menlo Park

5/4.5

$3,888,000

$3,600,000

66

Oakdell Dr, Menlo Park

3/2.5

$2,499,000

$2,655,000

10

Clayton Dr, Menlo Park

3/4

$2,295,000

$2,610,000

13

Hillview Dr, Menlo Park

3/2

$2,388,000

$2,400,000

16

Encina Av, Menlo Park

5/3

$1,995,000

$2,300,000

7

Laurel St, Menlo Park

3/2

$1,799,000

$1,950,000

8

Timothy Ln, Menlo Park

3/2

$1,595,000

$1,925,000

2

Monterey Av, Menlo Park

4/2

$1,650,000

$1,875,000

7

Marmona Dr, Menlo Park

4/2

$1,649,000

$1,810,000

9

Blackburn Av, Menlo Park

3/2

$1,398,000

$1,750,100

9

University Dr, Menlo Park

2/1

$1,499,000

$1,638,000

8

Valparaiso Av, Menlo Park

3/2.5

$1,600,000

$1,625,000

10

Santa Cruz Av, Menlo Park

3/2.5

$1,595,000

$1,600,000

16

Bay Rd, Menlo Park

3/3

$1,295,000

$1,545,000

4

Nash Av, Menlo Park

2/1

$1,147,000

$1,480,000

9

Peggy Ln, Menlo Park

2/1

$1,029,000

$1,310,000

10

Sevier Av, Menlo Park

4/3

$978,000

$950,000

252

Hollyburne Av, Menlo Park

3/2

$639,950

$675,000

11

Hamilton Av, Menlo Park

3/2.5

$670,000

$670,000

180

Carlton Av, Menlo Park

3/1

$559,990

$594,888

15

Hill Av, Menlo Park

3/1

$560,000

$565,000

7

Hollyburne Av, Menlo Park

2/1

$509,000

$510,000

10

Palo Alto Home Sales

The Palo Alto market is on fire! In May, 45 homes closed escrow, and all but 5 of them sold for more than list price. There are an additional 15 homes that are pending sale, half of which sold in11 days or less of being on the market. Currently, there are 30 homes for sale in Palo Alto.

Address

Bed/Bath

List Price

Sale Price

DOM

Coleridge Av

5/5.5

$14,750,000

$15,000,000

29

Pitman Av

5/4.5

$4,998,000

$5,800,000

8

Bryant St

4/2.5

$5,684,000

$5,567,000

15

Waverley St

4/4.5

$3,798,000

$4,280,000

10

South Ct

4/4.5

$2,988,000

$3,650,000

14

Hamilton Av

4/3.5

$3,299,000

$3,600,000

4

Channing Av

5/3

$2,698,000

$3,400,000

8

Portola Av

4/3

$2,998,000

$3,300,000

8

Ashton Ct

4/3.5

$2,888,000

$3,280,000

9

Seale Av

4/3

$2,758,000

$3,100,000

14

Emerson St

3/3

$2,880,000

$3,057,000

13

Kingsley Av

3/2

$2,199,000

$2,950,000

14

Byron St

2/3

$2,188,000

$2,836,000

8

Guinda St

3/2

$2,595,000

$2,828,000

10

Crosby Ct

6/2+

$2,599,000

$2,800,000

14

Bryant St

3/2.5

$2,195,000

$2,710,000

7

Miranda Av

5/4

$2,698,000

$2,650,000

51

Arroyo Ct

5/3.5

$2,688,000

$2,502,000

36

Ferne Av

4/3

$1,998,000

$2,420,000

9

Loma Verde Av

4/2.5

$1,988,000

$2,420,000

8

Embarcadero Rd

3/2.5

$1,898,000

$2,275,000

6

Address not disclosed

4/2

$1,898,000

$2,225,000

6

Gailen Av

4/2.5

$2,078,000

$2,218,000

9

Bibbits Dr

4/3

$1,898,000

$2,202,000

9

Greenmeadow Wy

4/2

$1,988,000

$2,200,000

10

Ross Rd

3/2

$1,798,000

$2,200,000

7

Colorado Av

3/2

$1,679,000

$2,200,000

8

Kendall Av

4/3.5

$2,199,000

$2,199,000

7

Moreno Av

3/2

$1,695,000

$2,180,000

7

Fallen Leaf St

4/2.5

$1,595,000

$2,157,000

7

San Jude Av

2/2

$1,698,000

$2,125,500

11

Ensign Wy

3/2

$2,295,000

$2,092,700

24

Nathan Wy

4/3

$1,988,000

$2,073,000

8

Roosevelt Ci

3/2

$1,588,000

$2,001,000

8

Birch St

2/2

$1,395,000

$1,958,000

14

Kenneth Dr

3/2

$1,399,000

$1,902,211

0

Mears Ct

4/2.5

$1,859,000

$1,900,000

14

Seminole Wy

3/2

$1,495,000

$1,851,000

7

E Charleston Rd

4/2

$1,695,000

$1,840,000

12

Tennessee Ln

4/2

$1,650,000

$1,800,000

7

Channing Av

1/1

$1,093,000

$1,658,000

7

Wisteria Ln

3/2.5

$1,199,000

$1,640,000

8

Van Auken Ci

3/1

$1,599,000

$1,630,000

8

Washington Av

5/4

$1,595,000

$1,568,000

21

Park Bl

3/2

$1,100,000

$1,200,000

76

Los Altos and Los Altos Hills May 2014 Home Sales

The Los Altos and Los Altos Hills real estate market is also fire! In May, 44 homes closed escrow (see below), and all but 11 of them sold for more than list price. There are an additional 38 homes that are pending sale, half of which sold in 16 days or less of being on the market. Currently, there are just 15 homes for sale in Los Altos and 21 homes in Los Altos Hills.

Address

Bed/Bath

List Price

Sale Price

DOM

Kate Dr

6/6.5

$8,000,000

$7,800,000

3

Bridgton Ct

5/5+

$5,488,000

$5,750,000

7

Stonebrook Dr

4/3.5

$4,500,000

$5,200,000

10

University Av

5/3

$3,995,000

$4,400,000

37

Santa Rita Av

5/4.5

$3,988,000

$4,288,000

8

Arboleda Dr

5/4.5

$3,798,888

$4,000,000

1

Summerhill Av

6/4.5

$3,798,000

$3,798,000

10

Atherton Ct

5/3.5

$3,888,000

$3,740,000

27

Parma Wy

5/4+

$4,000,000

$3,650,000

11

Dawson Dr

4/3.5

$3,499,000

$3,300,000

104

Panchita Wy

5/3.5

$2,998,000

$3,050,000

11

Alvarado Av

5/3

$2,298,000

$3,001,000

6

Montclaire Wy

4/2.5

$2,195,000

$2,850,000

7

Stratford Pl

5/3

$2,498,000

$2,750,000

9

Olive Tree Ln

5/3

$2,999,000

$2,710,000

23

Deodara Dr

5/3.5

$2,398,000

$2,615,000

7

Black Mountain Rd

3/2

$2,688,000

$2,600,000

36

Topar Av

4/3.5

$2,448,000

$2,586,000

11

Russell Av

4/3

$2,595,000

$2,550,000

21

Valencia Dr

5/3

$2,299,999

$2,500,000

10

Raymundo Av

3/2

$1,998,000

$2,500,000

10

Heritage Ct

4/2

$1,998,000

$2,450,000

11

Alicia Wy

3/2

$1,998,000

$2,450,000

7

Crooked Creek Dr

5/2.5

$1,990,000

$2,430,000

8

Guadalupe Dr

4/2.5

$2,200,000

$2,410,000

9

Topar Av

4/3

$2,198,000

$2,350,000

9

Frontero Av

4/2.5

$1,898,000

$2,350,000

6

Duval Wy

4/2.5

$1,988,000

$2,325,000

7

Country Club Dr

4/3

$1,999,000

$2,320,000

7

Runnymead Dr

4/2.5

$1,898,000

$2,305,000

7

Olive Tree Ln

4/2.5

$2,395,000

$2,300,000

21

Clay Dr

4/2

$1,925,000

$2,300,000

6

Kent Dr

4/2.5

$1,995,000

$2,200,000

8

Julie Ln

3/2

$1,599,000

$2,200,000

6

Altamead Dr

3/2

$1,698,000

$2,150,000

9

Old Oak Ct

3/3.5

$1,995,000

$2,050,000

8

Clay Dr

5/2.5

$1,750,000

$2,030,000

8

Eva Av

3/2

$1,650,000

$1,980,000

8

Kent Dr

4/2.5

$1,888,000

$1,900,000

11

Scott Ln

4/2.5

$1,798,000

$1,900,000

6

Cloverly Ct

4/3

$1,890,000

$1,890,000

0

Carmel Te

4/2

$1,550,000

$1,865,000

9

Hierra Ct

3/2

$1,698,000

$1,851,000

10

Brookmill Rd

4/2.5

$1,695,000

$1,650,000

23

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