Here are some metrics that I have pulled for the real estate market performance in Q1 2015. Surprisingly, each of the town were both similar and different in various ways

Portola Valley

The year started out with very low inventory of homes for sale. There were 11 homes for sale in January, 15 in February, and then 22 in March. Due in partto the low inventory, there were just 8 homes that closed escrow, compared to 18 for the same quarter in 2014. There were an additional 7 homes that went into contract but have not closed escrow yet. The average price made an impressive 14% climb from last year to $3,108,250, and the median price increased by 5% to $2,580,500. Both the average and median prices reached record highs. There are currently just 12 homes for sale, 6 of which have been on the market for more than 30 days and for as long as 17 months. In just the past week, 3 homes came onthe market.

Woodside

There were 15 homes that closed escrow, compared to 20 for the same quarter in 2014. There were an additional 5 homes that went into contract but have not closed escrow yet. Once again, record high prices were reached. The average price increased 9% from last year to $3,272,800, and the median price made an impressive 24% climb to $2,850,000. Nine of the homes sold were on the market for more than 30 days, including 2 that were on for almost a year. As a result, the median days on market jumped significantly to 70 days.There are currently 26 homes for sale, and 15 of these have been on the market for more than 60 days. In the pastweek, 2 homes came on the market.

Atherton

Prices reached staggering new highs with the median and average prices climbing to $7 million and beyond. There was only 1 sale for less than $2 million and 2 sales in excess of $10 million. The average price increased 42% compared to last year, and the median price increased 58%. There were 11 homes that closed escrow during the quarter, compared to 25 in the same quarter in 2014. An additional 5 homes went into contract but have not closed yet. The low number of sales was due in part to the low inventory. There were 10 homes for sale in January, 14 in February, and then 17 in March. Four of the homes sold were on the market for more than 4 months, including 2 that were on for almost 9 months. As a result, the median days on market jumped significantly to 47 days.There are currently 15 homes for sale, and 7 of these have been on the market for more than 60 days. In the past week, 4 homes came on the market.

Menlo Park

Once again, record high prices were eached. The average price increased 14% from last year to $2,352,226, and the median price made an impressive 28% climb to $2,400,000. There were 53 homes that closed escrow during the quarter, compared to 58 in the same quarter in 2014. An additional 15 homes went into contract but have not closed yet. All but 6 of the homes sold were on the market for less than 30 days. Half of the homes sold in 12 days or less.There are currently 18 homes for sale, only 3 of which have been on the market for more than 30 days. In the past week, 12 homes came on the market.

Palo Alto

Once again, record high prices were reached. The average price increased 15% from last year, exceeding $3 million for the first time and reaching $3,192,018. The median price increased 8%, climbing to $2,600,000. There were 57 homes that closed escrow during the quarter, compared to 53 in the same quarter in 2014. An additional 13 homes went into contract but have not closed escrow yet. All but 9 of the homes sold in 3 weeks or less and half of the homes sold in 9 days or less. There are currently 24 homes for sale, only 7 of which have been on the market for more than 30 days. In the past week, 7 homes came on the market.

Los Altos and Los Altos Hills

In Los Altos, the average price increased 20% from last year, exceeding $3 million for the first time and reaching $3,107,639. The median price increased 18%, climbing to $2,800,000. In Los Altos Hills, the average price reached almost $5 million, increasing 33% to $4,980,521, and the median price increased 8% to $3,500,000. The number of sales was also up with 61 in Los Altos compared to 51 in the first quarte rof 2014 and 24 in Los Altos Hills compared to 15 the yea rbefore.The strong demand in Los Altos Hills resulted in half of the homes selling in 9 days or less – a dramatic 50% decline from last year. Los Altos also saw half of the homes sellingin 9 days or less. There are currently just 14 homes for sale in Los Altos and 23 in Los Altos Hills. In the past week, 11 homes came onthe market